joel.francis.7351
Par 100 posts (V.I.P)
Difference between Ramalinga Raju (Satyam) & Vijay Mallya (Kingfisher), and the moral we can learn from them:
Raju founded a software company. Mallya founded an airline company.
Raju took money from high profile businessmen & politicians to run his company. Mallya took money from Govt Banks (which are answerable to taxpayers) to run his company.
Raju recruited thousands of employees & promptly paid them good salaries. Mallya recruited thousands of employees, but did not pay them any salary at all.
Raju diverted the businessmen's (investors) money, Mallya diverted PSU bank loan money.
Finally, Raju owed Rs 4,000 crore to his business investors and helplessly defaulted. Mallya owed Rs 10,000 crore to PSU banks and willfully defaulted.
i.e Raju cheated high profile businessmen & politicians. Mallya cheated common man (It is the common man's tax money which will be used to rescue the PSU banks which had lent him such huge loans).
Raju, who cheated high profile businessmen & politicians, is rotting in jail.
Mallya, who cheated common man, is holidaying in London.
Moral of the story: If you are an entrepreneur, don't mess with the rich (Businessmen/Politicians) because that can lead you to jail. But by all means, cheat the govt, public banks, common man, taxpayers, happily take your employees for granted, & betray the nation, because that can take you to such great heights that even a majority Govt of the world's largest democracy will be helpless and allow you to live life king size.
Raju founded a software company. Mallya founded an airline company.
Raju took money from high profile businessmen & politicians to run his company. Mallya took money from Govt Banks (which are answerable to taxpayers) to run his company.
Raju recruited thousands of employees & promptly paid them good salaries. Mallya recruited thousands of employees, but did not pay them any salary at all.
Raju diverted the businessmen's (investors) money, Mallya diverted PSU bank loan money.
Finally, Raju owed Rs 4,000 crore to his business investors and helplessly defaulted. Mallya owed Rs 10,000 crore to PSU banks and willfully defaulted.
i.e Raju cheated high profile businessmen & politicians. Mallya cheated common man (It is the common man's tax money which will be used to rescue the PSU banks which had lent him such huge loans).
Raju, who cheated high profile businessmen & politicians, is rotting in jail.
Mallya, who cheated common man, is holidaying in London.
Moral of the story: If you are an entrepreneur, don't mess with the rich (Businessmen/Politicians) because that can lead you to jail. But by all means, cheat the govt, public banks, common man, taxpayers, happily take your employees for granted, & betray the nation, because that can take you to such great heights that even a majority Govt of the world's largest democracy will be helpless and allow you to live life king size.