Ready to repay 100% principal amount to banks, please take it: Vijay Mallya

Mallya said that he should be given a hearing and a fair treatment.

New Delhi: Absconding liquor baron Vijay Mallya has offered to repay 100 percent of the Principal amount of the loan to the banks urging them to accept it.

Mallya, who fled to the 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.

In a series of tweets, Mallya claimed he had made the offer to settle the dues to the banks since 2016.

He wrote, “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.”

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 ? — Vijay Mallya (@TheVijayMallya) December 5, 2018

Mallya also expressed anguish over him being tagged as a defaulter asking to be given a hearing and a fair treatment.

Mallya tweeted, “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.”

He wrote, For three decades running India’s largest alcoholic beverage group, we contributed thousands of crores to the State exchequers. 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.

In September, a UK court had fixed December 10 as the date to deliver its verdict on whether beleaguered liquor baron can be extradited to India to face charges of fraud and money laundering amounting to around Rs 9,000 crore.