Wednesday, January 8, 2014

When does corporate malfeasance become a crime?

How do you characterize a debt-laden promoter who manages to get public sector banks to lend more money even as he was defaulting on his existing commitments? What if those loans were made against collateral whose valuations were allegedly manipulated and inflated? What if the promoter now tries to sell his mortgaged business assets before his unsuspecting creditors get around to seize them? What if the unscrupulous promoter then tries to surreptitiously funnel the proceeds away to an international tax haven? What if the promoter is a leading member of the country's corporate elite and a honorable political leader? 

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