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In a damage control exercise, beleaguered industrialist Vijay Mallya on Sunday blamed media for spoiling his reputation and sought to clarify why his dream airline Kingfisher Airlines failed. "The past few days have witnessed a near hysterical campaign in the media directed against me," the 60-year-old flamboyant tycoon, known as the 'King of Good Times' said in a statement here. Vijay Mallya's statement comes ahead of the Debt Recovery Tribunal's order on the four interlocutory applications (IAs) the SBI moved on March 2, seeking his arrest, impounding his passport, disclosure of his assets in India and abroad and first claim to the $75 million deal he had signed with British liquor major Diageo plc on February 25 for resigning as chairman of its Indian arm United Spirits Ltd (USL). (Reuters) <br><a href="https://www.financialexpress.com/article/industry/companies/vijay-mallya-loan-default-case-know-what-makes-a-wilful-defaulter/220332/"><strong>Verdict on Vijay Mallya default case today; know who is a ‘wilful defaulter’</strong></a></br>
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Accusing media of indulging in sensationalism, Vijay Mallya said he felt the time had come to clarify his position in order to avoid relentless attack on his reputation. "I have always lived an honourable life and the calumny notwithstanding, shall continue to do so. As to the allegations in media, all I can say is I hope some sobriety and sense will prevail and truth not held a hostage to TRPs," Vijay Mallya says. <br><a href="https://www.financialexpress.com/article/industry/companies/vijay-mallya-loan-default-case-know-what-makes-a-wilful-defaulter/220332/"><strong>Verdict on Vijay Mallya default case today; know who is a ‘wilful defaulter’</strong></a></br>
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Kingfisher House: Auction for Vijay Mallya’s Kingfisher House in Mumbai ended on Thursday with lenders failing to get any bids. The base price for the property was set at Rs 150 crore and the e-auction opened on Thursday. The property, with a built-up area of over 17,000 sq ft in Vile Parle area, is being auctioned by SBICAPS Trustee, a subsidiary of SBI Caps through an e-auction. The auction was conducted on e-auction property platform, AuctionTiger. (Reuters)
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Kingfisher Airlines women staff to Vijay Mallya: The women in the letter also said that they would appeal Prime Minister Narendra Modi to take very serious view and remove Mallya from the committee of Rajya Sabha. "You are indifferent to us but we feel pity on you for what you have done to yourself and your empire. We don't feel happy to insult you but our contention is that why you kept us in dark. You should have immediately paid us when the first life was lost but instead, you used us as human shield to prolong your legal battle," it added. (Reuters)
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"Thus, the aggregate cash recovery/security available is Rs 2,494 crore," Vijay Mallya claimed in the statement. Observing that a disinformation campaign had made him a poster boy of all banks' NPAs (non-performing assets) despite pledging blue chip securities and depositing unspecified amounts in court, Vijay Mallya said banks have NPAs of Rs 11 lakh crore and borrowers owe much more than Kingfisher Airlines. (Reuters) <br><a href="https://www.financialexpress.com/article/industry/companies/vijay-mallya-loan-default-case-know-what-makes-a-wilful-defaulter/220332/"><strong>Verdict on Vijay Mallya default case today; know who is a ‘wilful defaulter’</strong></a></br>
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"None of these large borrowers have been declared wilful defaulters, but unfortunately, UB Holdings and I have been declared wilful defaulters by certain banks on technical grounds. I have legally challenged these declarations," Vijay Mallya said. Clarifying all inquiries found no evidence of misappropriation of funds by his defunct airline or himself, he said hence allegations and innuendo to this effect were false. (PTI) <br><a href="https://www.financialexpress.com/article/industry/companies/vijay-mallya-loan-default-case-know-what-makes-a-wilful-defaulter/220332/"><strong>Verdict on Vijay Mallya default case today; know who is a ‘wilful defaulter’</strong></a></br>
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"My group invested Rs 4,000 crore into the airline which stands impaired – it is not as though it is only the bank debt that has suffered. Banks will recover a substantial part of their debt – my groups loss is permanent," Vijay Mallya noted. Lamenting for being painted as an absconder, Mallya said he had been a non-resident for around 28 years and the RBI had acknowledged this in writing. "Over the years, I have built businesses in India and abroad. I am also honoured to be a member of the Rajya Sabha (from Karnataka for the second time)," he added. (PTI) <br><a href="https://www.financialexpress.com/article/industry/companies/vijay-mallya-loan-default-case-know-what-makes-a-wilful-defaulter/220332/"><strong>Verdict on Vijay Mallya default case today; know who is a ‘wilful defaulter’</strong></a></br>
Indian woman leaves US after layoff during F-1 OPT, calls goodbye ‘hardest step’
