Insignificantly Significant: Gooney Recovery

This image is a distressful reminder of the way business is done in our country.

Like a lot of us, I missed this incident reported in the newspapers. On the surface of it, its just another death. When I think about it, it reminds me that my life is not that significant. I might be too insignificant in a bank’s larger scheme of things, and 15000 bucks might be required to break or shake the fortunes of the company. So what if there are other defaulters dealing with several crores contesting for the apex position in this country.

And on my death, while my family would talk about the scared voice

Around 12.30 pm, Sunanda says, Yadaiah called her up and told her to arrange Rs 15,000 at any cost. According to her, Yadaiah sounded scared. “He said that he would not be allowed to leave unless he returned the money, and then he hung up,” Sunanda has told the police.

I will have a bank manager fabricating stories– 

In a statement, Rahul Virkar of ICICI Bank, said, “We are informed that Yadaiah had come to the office of our agency for making payments for the overdue instalments. We are informed that during the interaction with the representatives of the agency he felt unwell and requested to be accompanied to a doctor. We are further informed that the agency representatives had provided all possible support for his medical treatment.”

And our friend, the Police  will say –

Narasaiah said Elite`s agents had admitted to having taken Yadaiah to their office in Ameerpet and asking him to clear his debts. [Zee News Article]

 And in the same vein of contradictory statements –

A case was registered today under Sections 342 (Wrongful Confinement) and 304 (Culpable Homicide Not Amounting To Murder) of IPC. Inspector G Narasaiah said, “We are awaiting the post- mortem report. If it turns out to be a case of murder, the sections will be altered accordingly.”

Talk about playful cajoling by a factoring agency. Gentle reminder – Supreme court had come down heavily on commercial banks (again, driven by ICICI’s behavior) for using goons for recovering bad debts.

 Its appalling.

In another development, the AP State Human Rights Commission taking suo moto cognizance of the case has asked the city police to furnish a report on the circumstances leading to the death of Yadaiah. Justice B Subhasan Reddy, chairnman of the State Human Rights commssion has asked the ACP Panjagutta to  furnish a report by June 29. The commission will initiate action after receiving the report.

William Gladstone had mentioned in one of his popular speeches– Justice delayed is justice denied! But then, I think we have already moved from the judicial theory of arbitration to the political theory of arbitration. Its about collective coercion, and analyzing the power of the parties requiring arbitration. Justice usually sides with the powerful.

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