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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