Vijay Mallya to Repay 100% Loan Amount; Liquor Baron's Offer Comes Just Five days Ahead of His Extradition Hearing

Team Latestly
Who goes to attend a meeting with "300 bags", the Enforcement Directorate (ED) asked Vijay Mallya's lawyer in a special court here Wednesday, countering the claim that the liquor baron had left India in March 2016 only to attend an event in Geneva and did not flee the country.

London, December 05: Fugitive businessman Vijaya Mallya in a series of tweets has offered to repay 100 percent loan amount against his airline, Kingfisher. Mallya’s offer to repay the loan amount came just five days ahead of the United Kindom (UK) court’s extradition hearing in London. In September, the UK court on reserved its verdict in connection with an extradition case against the fugitive liquor baron Mallya for December 10.

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Mallya in his tweet said that all the allegations against him were false. The liquor baron wrote, “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.”

The fugitive businessman also accused high Air Traffic Control (ATF) and fuel prices. In his another tweet 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.”

Along with offering to pay 100 percent loan amount, Mallya also blamed the Indian media for spoiling his image. In his tweet, he wrote, “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 ?” London Court Allows Sale of Six Posh Cars Owned by Vijay Mallya to Repay Indian Banks.

Meanwhile, Mallya also claimed that he was mistreated, as United Breweries being the largest alcoholic group, contributed thousands of crores to the State exchequers. He said, “or 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.”

Recently, a UK court while quashing the discharge plea of match-fixing accused Sanjeev Chawla termed Indian jails “Satisfactory”. It was considered as a setback for the liquor baron because, in July, the UK court had asked the Indian authorities to submit a video within three weeks of Mumbai's Arthur Road Jail cell where they plan to keep Mallya post-extradition. Mallya collectively owes an amount of over Rs 9,000 crores to a total of 17 Indian banks. He left the nation in March 2016, shortly after the consortium of lenders moved the court seeking penal action against him.