Absconding businessman Vijay Mallya, who is being investigated for fraud and money laundering, in a series of tweets on Wednesday offered to pay back 100% of the principal amount, against his defunct airline Kingfisher Airlines, that he owed to banks. He also asserted that all allegations against him are false.
In a tweet, Mallya – who had fled to the UK in March 2016 – said “I am offering to pay 100% back. I humbly request the banks and government to take it.” In another tweet, he added that “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.”
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
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.
— Vijay Mallya (@TheVijayMallya) December 5, 2018
Vijay Mallya, who is accused of defaulting on about approximately Rs 9,000 crore in loans willfully for his now-defunct carrier Kingfisher Airlines, is fighting extradition to India on charges of fraud and money laundering. He, however, remains on bail on an extradition warrant executed by the Scotland yard last year in relation to money laundering charges.
In another tweet, Mallya added that rising crude oil prices had weighed on Kingfisher Airlines, which was a fabulous airline.
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.
— Vijay Mallya (@TheVijayMallya) December 5, 2018
Earlier, Mallya had said that he became the “poster boy” bank default and a lightning rod for public anger. He had also claimed in the past that when proceedings were filed by banks in the Supreme Court, he made two settlement offers to the banks. However, both the offers were rejected by them.
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.
— Vijay Mallya (@TheVijayMallya) December 5, 2018
Mallya’s tweets came hours after alleged AgustaWestland VVIP chopper deal middleman Christian Michel was brought back to India from Dubai. Currently, Vijay Mallya is staying in London where a court will pronounce its verdict on his extradition case on December 10. In India, non-bailable warrants were issued against the 62-year-old former Kingfisher Airline boss in November 2016 and July 2017.
Recently, a special court for Prevention of Money Laundering Act (PMLA) cases last week dismissed the plea filed by Vijay Mallya’s lawyer Amit Desai, asking to adjourn the hearing of Enforcement Directorate’s (ED) application to declare him a fugitive economic offender. Earlier, the Bombay High Court had also rejected Mallya appeal for not attaching ‘fugitive’ tag to his name. Vijay Mallya had filed an appeal against the ED, which wanted him to be declared a ‘fugitive economic offender’ and his properties to be confiscated, seeking a stay on ED’s request to begin proceedings against him under the new laws.