Big Enough to Fail Loans
It is ironic that when Vijay Mallya did not deserve a farthing, he was given crores. Now that he is offering part-payment, banks are unwilling to accept it. As many as 17 banks released funds against intangibles of a lossmaking company; but now they want a tangible, concrete settlement proposal. It is a moot point whether the number of banks funding a party/group should not be restricted to a reasonable figure because if a big group being funded by a lot of banks goes down under, it may take the banking system with itself.