The tech investor T V Mohandas Pai who favors a negotiated settlement has forced beleaguered businessman Vijay Mallya who owes over Rs 9,000 crores to several banks to come back to India is a "bad strategy".
The former Chief Financial Officer of software major Infosys has said that he thinks it as a bad strategy to force him to come back because he don't think that they have a strong case to do what they are doing and it is to get the Debt Recovery Tribunal to pass an order invoking guarantee he has given to banks and to attach his assets.
Pai the co-founder of Aarin Capital has favored and has requested the Supreme Court to pass an order for negotiations with the liquor baron and he has noted that nobody has claimed that Mallya siphoned off money and indulged in money laundering till Enforcement Directorate (ED) went after him.
Pai currently the Chief Adviser to the Manipal Education and Medical Group has stressed the need for improving legal system in the country and he has noted that the case against Mallya was going on before DRT from the year 2013 and they need bankruptcy law to force them into bankruptcy and to sell their assets and get back the money.
