Mallya row: Why's nobody talking about Rs 30K cr Air India loss, asks Mohandas Pai

Hyderabad: Amidst a row over beleaguered businessman Vijay Mallya leaving India in the middle of a massive loan default probe, former top official of Infosys, T.V. Mohandas Pai has sought to know why questions are not being raised about the massive losses of Air India, and called for a system for recovery or settlement of loans.

“Air India has lost about Rs 30,000 crore. Why don’t you hold the people who manage (it) accountable for Air India losses like you hold Vijay Mallya (accountable for losses in Kingfisher Airlines)?” Mr Pai, former chief financial officer and HR head of the Bengaluru-based software major, said. “What is the difference between Vijay Mallya who lost Rs 10,000 crore and Air India which lost Rs 30,000 crore? Bank money is lost (in case of KFA) and public taxpayer’s money is lost (in AI’s case). Everybody is going after Vijay Mallya. (But) a government entity making (AI) losses is okay...is it? Parliament is sitting quietly and does not talk about it. Media will sit quietly and nobody will talk about it...holding nobody accountable. What is this? It’s hypocrisy. Both are of the same character and both are wrong,” he said.

One can blame Mallya of mismanagement for business losses, but now it’s in his interest to come back to India and strike a deal with banks by paying back as much as possible because he is “not going to win this battle of delaying payment and going to courts”, said Mr Pai, currently chairman of venture capital firm Aarin Capital and Manipal Education.

Noting that the whole country is against Mallya now, Mr Pai said, “He can’t fight the whole country for what he has done.” He also questioned Mallya for “not paying salaries to employees while you have a luxurious life”.