Vijay Mallya offers to repay 100% bank money

Vijay Mallya

New Delhi, Dec 5: Fugitive liquor baron Vijay Mallya, wanted in a Rs 9,000 crore bank loan default case, on Wednesday offered to pay back “100 per cent of the principal amount”.

Lashing out at the quick media narrative about his extradition to India, Mallya Tweeted  “I see the quick media narrative about my extradition decision. That is separate and will take its own legal course.

“The most important point is public money and I am offering to pay 100 per cent back. I humbly request the banks and government to take it. If payback refused, Why?” he said.

Last year, India filed extradition proceedings against Mallya which he has contested and pending the final verdict in the case. Presently, he is out on bail in London.

The court will pronounce its verdict on December 10.

“Airlines struggling financially partly because of high ATF (Aviation Turbine Fuel) prices. Kingfisher was a fab(ulous) airline that faced the highest ever crude prices of $140/barrel. Losses mounted and that’s where banks money went.

“I have offered to repay 100 per cent of the principal amount to them. Please take it,” Mallya said in a series of Tweets.

Kingfisher began defaulting on loans beginning 2009-10.

Hitting out at the political parties and media for accusing him of running away with the money, the head of the now defunct Kingfisher Airlines said that all of the accusation was false.

“Politicians and media are constantly talking loudly about my being a defaulter who has run away with PSU (public sector undertaking) banks’ money.

On September 12, during the hearing of his case in London’s Westminster Magistrates’ Court, Mallya told media that he flee from India after meeting Union Finance Minister Arun Jaitley in 2016, which the minister called “factually false”.

“I had a scheduled meeting in Geneva. I met the Finance Minister before I left… repeated my offer to settle with the banks. That is the truth.”

The absconding businessman had also told Jaitley that he was leaving for London.

Mallya, who left India on March 2, 2016, also claimed that he had made a comprehensive settlement offer before the Karnataka High Court.


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