Vijay Mallya offers to repay 100% to banks

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Fugitive liquor tycoon Vijay Mallya who is being investigated for fraud and money-laundering, offered to pay back 100 per cent of the principal loan amount to various banks.

Mallya’s offer came five days before UK court’s extradition hearing in London.

In a series of tweets, Mallya claimed that he has been falsely dubbed as a “defaulter” by politicians and media.

“I see quick media narrative about my extradition decision. That is separate and will take its own legal course.” Mallya said.

He further added, the most important point is public money and he is offering to pay 100% back and humbly request the Banks and Government to take it.

“The most important point is public money and I am offering to pay 100% back. I humbly request the Banks and Government to take it. If payback refused, WHY?” Mallya tweeted.

Earlier, UK court had fixed December 10 as the date to deliver its verdict on whether fugitive liquor baron can be extradited to India to face legal proceedings.

Vijay Mallya, 62, fled to UK in March 2016, is wanted in India over default of Rs 9,000 crore that was loaned to Kingfisher Airlines (KFA) by several banks.

Mallya however said, “Politicians and media are constantly talking loudly about me being a defaulter, who has run away with PSU bank money. All this is false.”

“Why don’t I get fair treatment and the same loud noise about my comprehensive settlement offer before Karnataka High Court. Sad,” he added. 

Mallya claimed he had made the offer to settle the dues to the banks since 2016.

He also said, “Airlines are struggling financially because of high aviation turbine fuel (ATF) prices.”

“Kingfisher also faced the “highest ever crude prices of US$ 140 per barrel. Losses mounted and that’s where the banks’ money went. I have offered to repay 100 per cent of the principal amount to them. Please take it,” he added. 

Vijay Mallya also said, “we contributed thousands of crores to the state exchequers for three decades. Kingfisher Airlines also contributed handsomely to the states. Sad loss of the finest Airline but still I offer to pay Banks so no loss. Please take it.”