Remember Gadgil? He was the promoter of the Western India group of companies valued at around Rs. 40 billion in the early nineties. Suddenly one day we heard that he was in jail in Dubai because one of his cheques had bounced. Within months the whole Western India group was declared bankrupt and shareholders lost all their money. The law in Dubai is very specific. If you default on any debt you are put in prison until such time that you are able to raise enough capital or someone else pays for you. That is why last year when the economic crisis broke expatriates who lost their jobs just left their cars at the airport while flying home to avoid being stuck in jail for their inability to pay off their car loans. Yet now that Dubai World is defaulting on its debt repayment the Emir Of Dubai is still free. Not just that, his spokesman said that the government of Dubai would not guarantee the loans choosing to blame the creditors for investing in the country. S&P have downgraded six Dubai government companies to junk status. They should reduce them to dung status because the entire Dubai justice system is fraudulent and the government consists of lying crooks.