Replied by Kanthaswamy Balasubramaniam thru Quora -Former Chief Manager at Central Bank of India (1987–2017)
This is one area where India cannot be blamed. We cannot blame ourselves for this.
Lets first talk of Mukesh Ambani and Gautam Adani
When a Country is prospering - and doing very well - everyone grows. Everyone becomes richer. All Businessmen do well. Small businesses, Medium Businesses, Large Businesses. It is called Boom Time. Everyone is happy.
When a Country is crashing When small businesses are folding by the day. When Medium Businesses are struggling to keep afloat. When many Large Businesses are not able to cope and having huge problems with NPAs and other issues - and in such a situation - A handful of Businessmen - keep getting a slew of opportunities most of which are not objected to by the Government (who object the same opportunities for other Businesses). Then the People are absolutely right.
Lets take Adani and his competitiors
Adanis Loans which are enormous are renewed repeatedly without any problems despite having decent profit streams but Power Industries and Construction Industries in the same Sector have NPA declarations and harrassment and forced into closure.
This is like a Prison of War Camp where all prisoners are lean and starving but a handful are plump and looking very healthy. The obvious conclusion is that they are informers and hand in glove with the Enemy officers.
So perfectly justified to Criticize Modi for encouraging Crony Capitalism
Now lets talk of Vijay Mallya
Mallya spent 3 1/2 years in India - after the Kingfisher Crisis and problems. He did not abscond in the middle of the night.
He was not criminally investigated for almost 2 years after Modi took power.
CBI cleared him earlier in 2014 November.
Then Mallya decided to retire to London. Openly announced it in the papers and left with 20 Suitcases in open daylight.
Then suddenly - he became a criminal and everyone was after him.
Initially only the Anti Modi media began to criticize the PM. Nobody else did. No rational sane person believed that Modi had any clue that Mallya was leaving or cared.
In fact i believe - it is entirely because of this Media that Modi and CBI were forced to find something ‘Criminal’ in Mallyas actions - otherwise by now it is likely they would have liquidated his money with Karanataka High Courts, paid the banks and everyone would have been satisfied.
Here the blame is EXCLUSIVELY with the - Indian Anti Modi or Liberandu Media
Slowly the Right Wing Media also followed suit as Propaganda.
In the process they destroyed a Decent Mans life and destroyed what remained of our Justice system.
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