billionaire Vijay Mallya has on December 5 offered to pay back the entire principal amount of Rs 5,500 crore that he owed various banks.
Vijay Mallya, 62, his now-defunct Kingfisher Airlines and others availed huge loans from various banks. He left India in March 2016 after banks got together to initiate legal proceedings to recover an outstanding of more than 9,000 crores. India formally asked for his extradition in February last year.
In the UK for the past two years, he has been fighting India's attempts to bring him back to face trial.
Politicians and Media are constantly talking loudly about my 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 the Karnataka High Court. Sad.
In a letter to Prime Minister Narendra Modi earlier this year, the tycoon said he was "making every effort" to settle his dues to banks but he had been made the "Poster Boy" of bank default and a lightning rod for public anger.
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% back. I humbly request the Banks and Government to take it. If payback refused, WHY ?
In his latest tweets Vijay Mallya said his business group "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," he tweeted.
He remains on bail on an extradition warrant executed by the Scotland Yard last year on fraud and money laundering charges. A ruling at the end of his extradition trial is expected at Westminster Magistrates' Court in London on December 10.
0 comments: