Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do. There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Now as I approach my 90th birthday ( 27 June 2023 ) , I invite you to visit my Digital Avatar ( www.hemenparekh.ai ) – and continue chatting with me , even when I am no more here physically

Tuesday, 6 March 2018

SFIO summons ? #PNB #NiravModi




Here are today’s headlines :










Extract :

" Both Kochhar and Sharma sent their representatives today. Officials from the other banks will be also called for questioning," sources said.


Common Man’s interpretation :

Who cares ?  Ask our deputies – lawyers




Extract :

In a reply to stock exchanges, ICICI Bank said it is a part of the working capital lender consortium, adding its exposure is not the highest


Common Man’s interpretation :

·        What is an exposure of a few hundred crores of rupees  ?  Peanuts !


·        It was a “ working capital loan “ – not real money of shareholders !


·        We did not do it alone – all by ourselves !




Axis bank response to the SFIO summons :


“ Our exposure to these entities is just Rs 200 crores and we are not the LEADER in the consortium “


Meaning :


“ Hey ! Why chase us ? Go after the LEADER !  or after those Public Sector Banks


We are neither owned by the government , nor answerable to it since this was not tax payer money . We will ensure that shareholders don’t ask uncomfortable questions during AGM “

  


My Take :


Even if technically , those CEOs of Private Sector Banks can get away by deputing their subordinates to go and meet SFIO , the message that they seem to be sending to 1.3 billion Indian citizens is loud and clear :


“ Send all the summons that you care .


Like  #NiravModi   #MehulChoksi   #Gitanjali  #KartikChidambaram etc  , we too are ABOVE THE LAW of the land . “



07  March  2018


www.hemenparekh.in  / blogs  


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