LOK SABHA ELECTIONS 2019: INDIA DECIDES

Nation Current Affairs 05 Dec 2018 'Please take it ...

'Please take it': Vijay Mallya offers to 'repay 100 pc' to banks

DECCAN CHRONICLE. | Edited by : UMANG SHARMA
Published Dec 5, 2018, 10:10 am IST
Updated Apr 23, 2019, 9:22 am IST
Vijay Mallya’s tweets came hours after alleged AgustaWestland deal middleman Christian Michel James was brought to India.
In his tweet, Vijay Mallya also claimed that his vast liquor empire, the United Breweries, contributed 'handsomely' to state exchequers. (Photo: File | AP)
 In his tweet, Vijay Mallya also claimed that his vast liquor empire, the United Breweries, contributed 'handsomely' to state exchequers. (Photo: File | AP)

Mumbai: Fugitive tycoon Vijay Mallya, who is being investigated for fraud and money-laundering, on Wednesday made an appeal to banks to accept his offer to pay back 100 per cent of the principal loan amount.

Mallya also denied that his move was linked to the extradition proceedings against him.

 

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 ?

Mallya’s tweets came hours after alleged AgustaWestland VVIP chopper deal middleman Christian Michel James was brought to India from UAE.

Michel's extradition the first successful extradition since India initiated similar proceedings against economic offenders like Vijay Mallya, Nirav Modi and Mehul Choksi.

Vijay Mallya took huge loans from banks for keeping his now-defunct Kingfisher Airlines afloat despite high jet fuel prices. The outstanding amount, including interest is Rs 9,990.07 crore.

In his tweet, Mallya also claimed that his vast liquor empire, the United Breweries, contributed “handsomely” to state exchequers.

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.

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.

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.

62-year-old Vijay Mallya left India for the UK on March 2, 2016, and has been fighting India’s attempts to bring him back to face the legal action.

He is currently in London where a court finished hearing on India's extradition case against him in September this year and is due to pronounce its verdict on December 10.

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