Vijay Mallya makes fresh offer to repay his loans

The fresh offer to pay 100% of his loans, which according to Indian banks is above Rs 9,000 crore, comes a day after Christian Michel.

Fugitive liquor baron Vijay Mallya on Wednesday made another offer to repay all his loans owed to banks and said politicians and media, who are constantly making noise about his default should also talk about a comprehensive settlement offer he has made before the Karnataka High Court.

“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.

“Airlines struggling financially partly becoz of high ATF prices. Kingfisher was a fab 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 % of the Principal amount to them. Please take it,” Mallya said in a series of tweets early this morning.

The fresh offer to pay 100% of his loans, which according to Indian banks is above Rs 9,000 crore, comes a day after Christian Michel, the alleged middleman in the Rs 3,600 crore AgustaWestland chopper deal was extradited to India from UAE.

The 62-year old self-acclaimed “king of good times” Mallya too is fighting against extradition to India from the UK. He is currently on bail pending an extradition hearing in April.

Mallya had earlier this year too made a similar offer to repay Rs 4,400 crore of his loans to banks but his offer was rejected. He had also said that a letter written to Prime Minister Narendra Modi and Finance Minister Arun Jaitley two years ago in 2016  evoked no response.

Mallya contends that his entire loan to India’s banks is much less than Rs 9,000 crore claimed by lenders back home. A consortium of 17 Indian lenders led by largest public sector State Bank of India have given loans to Mallya on which he has defaulted.

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Vijay Mallya makes fresh offer to repay his loans

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