Indians on the whole are not very honest and forthcoming.laws in india are non existant.There is no law to quickly recover and attach properties of defaulter.cases are dragged by corrupt lawyers for years.Judges dont bother.You cant get your own house vacated for decades.The judciary is most inefficient and frauduelent in india.there should be a comprehensive act for fianncial recovery of all kinds with time limit and summary proceedings,attachment of properties and involvement of police by court to find and seal proeprties after givcing one chance to hear accused party.if this iosdone the finacing companies will take more risk. Government shuld give quick financial aid through private consultants to be appointed in industrial centers at distrivct level who understamnd business and can monitor the loanee for 2 years.Canada has good model.sdtudy it and implement.merely talking lofty wont help.Why banks should today risk money?No one pays back without collaterla.Even then also people drag cases for years.many disappear.The financial recovery should be converted to crminal case after 6 months of decree are exhausted and party does not pay up.put the guys behinf bars til they pay and attach all properties belonging to self and spouse and children(dependent)
