Posted by: lovaboy December 28, 2004
NRB goes after Defaulters, Amatya Speaks...
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i think we are deviating from my question. Does NRB has right to stop Amatya/defaulters from travelling outside the country? Next time a Businessman defaults a loan, should it be a headache for american embassy...?? I personally think likes of Amatya played the game. Its unfortunate but lot of big business play with the system. Before the IRISH managemetn took over, the referee was on players side and now the rules of the game have changed, businessmen are crying foul play. From my personal business experience, the fulbari resort which is now a 30+ million USD headached was a failed business model from the start. why in the hell, bank approved such a failed project. More than a business it was one business man's crazey dream. A place where there is NO International Airport, hotel with 165+ Deluxe rooms?? Mind you the architecture is great... but who cares about Newari architecture in the laps of the rugged mountains. if he had squeezed his vision perhaps by 70% and used local resources from Pok. region may be the public money would have produced better returns. My grandfather once told me "ghanti herera had nilnu." Perhaps Mr. Amatya should have followed that philosophy. Well the damage is done and the bank is about to loose a huge chunk of change. Liquidating his asset or trying to threaten him is NOT the solution. I don't think his house in New Baneshwore is worth 30+ million USD. There needs to be an exit strategies in place.. some of my suggestions are below... if you have more pls feel free to add them, perhaps somebody from amatya enterprise can take into account to save their A$$ Option One: Turn it into a condo sell it into pieces. Option two: Parnter with worlds leading rehabilitation center and turn it into a drug/mental rehabilitation center for businessmen in S and SE ASIA Option three: contact some world famous Indian Guru and turn it into a Ashram. The location is very ideal.. Option four: sell it to Indian or Chinese hotel franchise
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