Vijay Mallya deprecates Narendra Modi government; says ‘ready to talk settlement’

By: | Updated: March 10, 2017 10:26 AM

Beleaguered Liquor baron Vijay Mallya on Friday strongly criticized the Narendra Modi government, claiming that the Centre is "bent upon holding me guilty without fair trial.

Beleaguered Liquor baron Vijay Mallya on Friday strongly criticized the Narendra Modi government, claiming that the Centre is “bent upon holding me guilty without fair trial.

Beleaguered Liquor baron Vijay Mallya on Friday strongly criticized the Narendra Modi government, claiming that the Centre is “bent upon holding me guilty without fair trial.” He also said that the allegations levelled against him by Attorney General Mukul Rohatgi before the Supreme Court “only prove the attitude of the Government against” him. The desperate remarks come a day after the apex court had asked him about the “truthfulness” of his disclosure of assets and transfer of USD 40 millions to his children. Mallya, who is presently in the United Kingdom, also raised question over Public Sector Banks’ One Time Settlements policy. “Public Sector Banks have policies for One Time Settlements. Hundreds of borrowers have settled. Why should this be denied to us?,” he said. In a series of tweets this morning, he said, “I have humbly obeyed every single Court Order without exception.” In a bid to resolve the ongoing dispute, Mallya said he is “ready to talk settlement on fair basis.” “Our substantial offer before the Hon’ble Supreme Court was rejected by Banks without consideration…Wish the Hon’ble Supreme Court would intervene and put an end to all this by directing Banks and us to negotiate and settle.We are ready,” Mallya tweeted.

Meanwhile, the hearing will continue in the Supreme Court today, as the State Bank of India (SBI)-led consortium of banks have filed a plea seeking recovery of the loan amount worth to the tune of Rs 9,000 crores approximately given to the businessman.

A bench of Justices Adarsh Kumar Goel and U U Lalit yesterday put for the queries during the day-long hearing after which it reserved the orders on two pleas of lending banks seeking contempt action and a direction to him to deposit USD 40 million received from offshore firm Diageo respectively.

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“You answer us whether you have disclosed your assets truthfully? Did you violate the Karnataka High Court order (restraining Mallaya from transferring and alienating assets) by transferring USD 40 million,” the bench asked senior advocate C S Vaidyanathan, representing Mallya.

Check out Vijay Mallya’s tweets

At the outset, the bench also posed several queries to the consortium of lending banks led by State Bank of India and asked it whether any criminal proceedings have been initiated against Mallya.

“Was any security taken at the time of giving the loan? Was the security adequate? If not, then why the loan was advanced without sufficient security.

“Is it not a case of misrepresentation with regard to security?,” the bench asked.

The court then asked Mallya as to why he did not disclose the receipt of USD 40 million from London-based company Diageo Plc and subsequent transfer of money to trusts to which his three children were the beneficiaries.

The banks have alleged that Mallya concealed the facts and diverted the money to his son Siddharth Mallya and daughters Leanna Mallya and Tanya Mallya in “flagrant violation” of the orders passed by the Karnataka High Court.

Attorney General Mukul Rohatgi and senior advocate Shyam Divan, appearing for the banks, contended that unless Mallya deposits USD 40 million before this court, he does not deserve to be heard and, moreover, he needed to appear personally as the contempt notice has already been issued.

“He did not disclose the USD 40 million deal with Diageo to this court. He took the Supreme Court for a ride, cares two hoots for the courts,” Rohatgi said.

In response to the query as to how the orders of the court would be enforced, he said that the government is seeking deportation of Mallya from the UK.

(With agency inputs)

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