IDBI officials knew of losses at Kingfisher: Mallya’s lawyer

Vijay Mallya

London, Sep 12: The counsel of fugitive liquor baron Vijay Mallya on Wednesday revealed that IDBI Bank officials were aware of the losses incurred in the debt-ridden Kingfisher Airlines.

Mallya’s lawyer told Westminster Magistrates Court in London, “IDBI bank officials were well aware of losses at Kingfisher. The emails from IDBI officials show that the government’s accusation of Mallya hiding losses is baseless.”

Ahead of the hearing outside the Court, Mallya said that he is ready for a comprehensive settlement.

On being asked if he has convinced the Court that he has the means to pay, the liquor baron stated “Obviously, that is why a settlement offer has been made. The hearing is on September 18.”

Mallya, his now-defunct venture Kingfisher Airlines Limited and others availed loans from various banks and the outstanding amount, including interest, against him is Rs 9,990.07 crore at present.


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