RBI Guv Raghuram Rajan lashes out at Vijay Mallya for lavish birthday bash?

Vijay Mallya recently celebrated his 60th birthday in Goa with about 500-600 guests including a performance by international pop star Enrique Iglesias.

Zee Media Bureau

New Delhi: In a statement that appears to have been referred to Vijay Mallya, promoter of Kingfisher Airlines, RBI Governor Raghuram Rajan has lashed out at defaulters who flaunt their lavish lifestyles.

"If you flaunt your birthday bashes even while owing the system a lot of money, it does seem to suggest to the public that you don't care. I think that is the wrong message to send. If you are in trouble, you should be cutting down your expenses," said Rajan.

This appears to have been referred to Vijay Mallya who recently celebrated his 60th birthday in Goa.

According to reports, there were about 500-600 guests of which many were all put up in his villa while others were hosted in the neighbouring Vivanta by Taj resort.

These guests were entertained by a hired event management company including a performance from international pop star Enrique Iglesias.

Vijay Mallya and Kingfisher Airlines reportedly owes banks over Rs 7,500 crore with about 17 banks about to lose the battle to recover this money.

In an interview with a leading news channel, Rajan also said, "The system has been geared to favouring those who have the ability to work the courts. The policy that you (large businessmen) follow is that during good times you take the upside but in bad times you go to banks and ask how much of a haircut are you going to take?"