Absconding businessman Vijay Mallya has offered to pay on Wednesday “100 per cent” of the principal amount he owes to a consortium of banks and the Indian government.
Absconding businessman Vijay Mallya has offered to pay on Wednesday “100 per cent” of the principal amount he owes to a consortium of banks and the Indian government.
His extradition and the debt owed to the banks is “separate and will take its own legal course”, Mallya said.
“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,” he said in a series of tweets.
Mallya explained how Kingfisher Airlines’ losses mounted and struggled financially due to rising aviation fuel prices, and yet the now-defunct airlines had made handsome contributions to the States.
“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 wrote on Twiter.
In his tweets, Mallya denied he was a defaulter and questioned why he does not receive fair treatment on a comprehensive settlement offer he had offered before the Karnataka High Court.
On charges of fraud and money-laundering, several banks initiated legal proceedings against Mallya for the repayment of an outstanding amounting to more than 9,000 crores. Thereafter, Mallya left the country in 2016 and India requested his extradition from the UK, the verdict of which is scheduled to be delivered on December 10.
His extradition and the debt owed to the banks is “separate and will take its own legal course”, Mallya said.
“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,” he said in a series of tweets.
Mallya explained how Kingfisher Airlines’ losses mounted and struggled financially due to rising aviation fuel prices, and yet the now-defunct airlines had made handsome contributions to the States.
“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 wrote on Twiter.
In his tweets, Mallya denied he was a defaulter and questioned why he does not receive fair treatment on a comprehensive settlement offer he had offered before the Karnataka High Court.
On charges of fraud and money-laundering, several banks initiated legal proceedings against Mallya for the repayment of an outstanding amounting to more than 9,000 crores. Thereafter, Mallya left the country in 2016 and India requested his extradition from the UK, the verdict of which is scheduled to be delivered on December 10.