Vijay Mallya plays nice guy: 2 years after fleeing India, offers to pay back all the money to lenders

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Updated: Dec 05, 2018 12:58 PM

Vijay Mallya is in the UK for the past two years and has been fighting India's attempts to bring him back to face trial.

Vijay Mallya, Vijay Mallya setback, Vijay Mallya london, Vijay Mallya london home, Swiss bank, UK High CourtVijay Mallya also asserted that all allegations against him are false. (Reuters)

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.”

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.


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.

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.

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