‘Please take it’: Vijay Mallya says ready to repay 100% loans to Indian banks

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Absconding businessman Vijay Mallya has made a “humble request” to banks to accept his offer to pay back the money he borrowed to keep his now-defunct Kingfisher Airlines afloat. Mallya also slammed the Indian media for repeatedly calling him a defaulter.

Mallya made this request on Twitter, just a day after alleged AgustaWestland deal middleman Christian Michel was brought to India from the UAE. India has initiated similar proceedings against economic offenders like Nirav Modi and Mehul Choksi, and Vijay Mallya.

“Respectfully to all commentators, I cannot understand how my extradition decision or the recent extradition from Dubai and my settlement offer are linked in any way. Wherever I am physically, my appeal is “Please take the money”. I want to stop the narrative that I stole money,” Mallya tweeted.

The case against Mallya is pending in a court in London, where Mallya is currently residing.

In a series of posts on micro-blogging website Twitter, Mallya reiterated his stand to pay 100 per cent of the principal amount to banks and called for fair treatment.

“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,” Mallya said.

“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,” Vijay Mallya added.

“I humbly request the Banks and Government to take it. If payback refused, WHY?” he questioned.

Mallya further said that his Kingfisher Airlines venture was a “fabulous” airline, but added that it failed due to additional costs towards skyrocketing aviation turbine fuel prices.

“Airlines struggling financially partly becoz [sic] 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,” the beleaguered businessman said.

Listing his contributions, Mallya said, “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.”

He again reiterated that his settlement offer has been pending since 2016 and asked media publications to check facts before making assertions.

Mallya fled India on March 2, 2016 after he failed to repay dues amounting to Rs 9,000 crore to banks. Indian authorities have been pressed hard for his extradition from the UK, where he has been living for the past two years.

He is currently out on bail against an extradition warrant issued last year in relation to money laundering charges. A ruling on his extradition case is expected at the Westminster Magistrates’ Court in London later this month.

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