In one's quick but firm view, there seems to be a strikingly agonising fallacy, verging on lunacy, in the very idea for having in place a 'resolution' authority, that too at this late stage. One would have thought in today' s already extremely muddled scenario, any talk of 'co-ordination', ideally on an ongoing basis, as aimed at, is palpably a wishful/blinkered thinking, rather a non-starter. If were to be guided by common sense, with a good measure of wisdom historically gathered only in hindsight, 'prevention' (in anticipation of a crisis such as this) is any day better than devising a 'cure' (remedy). In other words, wisdom lies in sincerely and intelligently foreseeing and planning how to cross a river on the route, a turbulent one at that, even before the late stage of having arrived at its threatening banks.
SARFAESI Act Management Of NPA (Non Performing Assets) – Part III
wrt 'bounsers (TOI)
<>To sadly recall:
It was the Banking Sector , mainly leading banks, laden with mounting NPAs and having had to face the wrath and severe critisicm of, besides the RBI, all stakeholders alike, that set the trend for a similarly high-handed action, nay overactive but unethical steps by any standard, verging on criminality, against the defaulting borrowers; giving the impetus and inspiration for others to follow suit and mindlessly resort to longarm tactics.
In a manner of speaking, that has left bewildered the right minded citizens, regardless of self being a harrassed borrower or not, - in the thought that the socalled DRMs often being spoken of has miserably faied to be a foolproof and effective route.
Times of India - by Reeba Zachariah - 1 hour ago
From manning nightclubs and protecting VIPs, bouncers have seen their roles expand. Private security agencies claim demand for bouncers ...
Down the Hill In Reverse Gear >
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Echoing the readers’ common reaction, one is left wildly wondering, - is not all the modern day talks of moving or marching forward towards ‘progress’ , a real, and profound one at that, after all a myth in its profoundest sense, verging on self-deceit of the gravest kind .
Switching over to a lighter mood and to recall what one has read:
“When William the Conqueror came to England, he introduced a system of ordeal by battle or trial by battle. The fight had to be by the litigant in person unless he was allowed to be represented by a champion. Thus the gladiator was the predecessor of the modern advocate.”
May be difficult to even imagine more so to believe that, It was a renowned lawyer of our times himself, who spoke; but went on to add: “I have never stopped thanking Providence for the change in the mode of advocacy. If the mode which prevailed in the earlier centuries were to continue today, there would be a drastic change in the leadership of the Bar.”
Had he been in our midst today, surely he would have unhesitatingly recommended the reference to be suitably changed to “debt-ridden corporate” and “bouncers” – the ones now in headlines.
< Tail End>
"India's private security business has grown by leaps and bounds since the 2008 Mumbai terror attacks. Today, it is worth $5 billion. The industry, according to leading players, is growing at 18 per cent annually — one of the few sectors to beat the economic slowdown."
When Shilpa Dwivedi walked into her office — a