This is with reference to ‘High Value cases: Finance Ministry designates one DRT each in Chennai, Delhi and Mumbai’, (October 10). One doubts the efficacy of this move given the number of cases pending in various DRTs.
DRTs were originally envisaged as a mechanism of speedy recovery in a time bound manner. But the time frames provided in the law exist only on paper and they are honoured more in the breach.
The Insolvency and Bankruptcy Code was heralded as yet another superior mechanism to tackle high value defaults. Are we now back to square one? Unless the government demonstrates political will, this too will end up as another gimmick to divert attention from the real issue of wilful defaults.
Manohar Alembath
Kannur (Kerala)
Moonlighting dilemma
This has reference ‘What the law says on moonlighting’ (October 10). Whatever be the legal position, the main question is whether a person can take up multiple work assignments. The practice is common and inevitable among unorganised workers but under a regular and contractual framework, the employee is required to devote his undivided attention to his job.
At present, activities like religious work, social activities, work for housing societies, trade union work to some extent etc are carried out without any explicit approval from employers and are considered normal. Moonlighting involves both ethical and legal issues besides the capacity of an individual to multi-task. If the second and subsequent jobs are in the same nature, there are very high chances of confidentiality being compromised besides the employee losing concentration.
Of course, it may provide cost advantages for the subsequent employers and additional income for the employers.
Given how carefully maximum working hours are formulated, employers are right is expecting their employees exclusive commitment.
It is time a comprehensive legislation regulating this practice.
M Raghuraman
Mumbai
Rising education loans
With reference to the news report, ‘After 4 years, demand for big education loans soars’, the good news is a certain section of these loans has seen uptick while priority sector loans of smaller ticket size are witnessing a major fall.
It is the banks’ prerogative to decide whom they must lend to. But a rise in education loans should necessitate a a relook at priority sector classification and deeper engagement with Indian Inc will go a long way in assessing which courses or skill area are in demand and accordingly those courses should be made more accessible to our young students in the country.
Bal Govind
Noida
Mulayam’s legacy
In the demise of Mulayam Singh Yadav we will miss his energetic style of politics, which is much needed in this era of combative politics. Through all this, he seldom abandoned his socialist moorings.
Other than the BJP, he had gladly embraced other parties as per dictates of his agenda and parting with them when needed, be it the Congress, BSP or others.
That did not prevent him maintaining personal rapport with their leaders, which did enable in crafting constructive coalitions to tide over political situations from time to time. His stature ensured that he remained a major political player for decades.
R Narayanan
Navi Mumbai