ECONOMIC OFFENSE

Date :04-Jul-2019

OVER the last few years economic offenses committed mostly by high profile business people and corporate houses, have become a matter of worry for the country’s financial system. And what is even more worrisome is the flight from the country of those who have committed the crime of defrauding financial institutions. The enormity of these offenses is such that they threaten the very survival of the banking and non-banking financial institutions. What is more intriguing is the fact that such offenders seek and are given asylum by several countries. It is an enigma how an economic offender in one country is allowed respectable rehabilitation in another. It is in this light that the appeal of Vice President Mr. Venkaiah Naidu holds significance. Mr. Naidu’s appeal comes in the backdrop of the prolonged legal haggling going on in some high profile cases of economic fugitives involving liquor baron Vijay Mallya and Nirav Modi. They are misusing the legal remedies in those countries to escape Indian laws, thwarting extradition process.

NARROW ESCAPE:

THE Indian team, on Tuesday, has had yet another narrow escape in the ongoing cricket World Cup. But for the lion-hearted bowlers, even the Bangladesh tail threatened to upstage the high-flying Indian cricket team at Old Trafford, Manchester. All through the tournament Virat Kohli’s men showed an uncanny vulnerability, either chasing the target or defending one. That, in spite of this the team has lost just one game out of the eight it has played in the competition so far unlike teams like England, and made it to the Semi-finals, is indeed a tribute to it. But luck is not going to last for ever. No doubt the team had to suffer quite a few injury scares and had to seek replacements. But the team management has to make a thorough study of the seven wins that the team has registered and prepare a plan where there are no scares in reaching the next stage of the tournament, the final, to justify their billing as one of the favourites to lift the coveted Cup. The most that can be done is to plug the chinks in the middle.