close

News WrapGet Handpicked Stories from our editors directly to your mailbox

Vijay Mallya urges banks to take his money, save Jet Airways

Vijay Mallya is wanted in India on alleged fraud and money laundering charges amounting to an estimated Rs 9,000 crores.

Vijay Mallya urges banks to take his money, save Jet Airways

New Delhi: Absconding liqour baron Vijay Mallya on Tuesday urged Indian banks to "take his money" so that it can be used to save debt-ridden Jet Airways.

"I repeat once again that I have placed liquid assets before the Hon`ble Karnataka High Court to pay off the PSU Banks and all other creditors. Why do the Banks not take my money. It will help them to save Jet Airways if nothing else," the liquor baron tweeted.

Vijay Mallya is wanted in India on alleged fraud and money laundering charges amounting to an estimated Rs 9,000 crores, that was loaned to Kingfisher Airlines (KFA) by several banks. He fled to the UK in March 2016, and is currently facing extradition trial in a UK Court.

"Happy to see that PSU Banks have bailed out Jet Airways saving jobs, connectivity and enterprise. Only wish the same was done for Kingfisher," read another tweet by him.

He went on to add that he “invested over 4000 crores into Kingfisher Airlines to save the Company and its employees. Not recognised and instead slammed in every possible way. The same PSU Banks let India’s finest airline with the best employees and connectivity fail ruthlessly.”

Meanwhile, Jet Airways founder and Chairman Naresh Goyal and his wife Anita Goyal yesterday stepped down from the company's board, after months of speculations over his exit. Goyal who set up the company with his wife in 1993, would also cease to be the chairman.

Jet, battling acute financial woes estimated to be more than Rs 8,000 crore, is looking at all possible options. The liquidity crunch has not only forced the Airline to ground aircraft leading to cancellation of several flights, it has also caused delayed salary payments to its pilots, engineers and other senior staff.