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Vijay Mallya Offers To “Repay 100%” To Banks

Vijay Mallya Offers To "Repay 100%" To Banks, Says "Please Take It"

Vijay MallyaVijay Mallya
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Vijay Mallya Offers To "Repay 100%" To Banks, Says "Please Take It" Vijay Mallya has been fighting India's attempts to bring him back to face trial. Five days before a UK court's verdict on whether Vijay Mallya can be extradited, the fugitive businessman, who is being investigated for fraud and money-laundering, appealed to various Indian banks to accept his offer to pay back 100 per cent of the principal loan amount he owes them.

In a series of tweets, the liquor baron said that the huge loans he took from banks went into keeping his now-defunct Kingfisher Airlines afloat despite high jet fuel prices. In the UK for the past two years, he has been fighting India's attempts to bring him back to face trial.

Vijay Mallya, 62, his now-defunct Kingfisher Airlines and others availed huge loans from various banks. He left India in March 2016 after banks got together to initiate legal proceedings to recover an outstanding of more than 9,000 crores. India formally asked for his extradition in February last year.

In his latest tweets Vijay Mallya said his  United Breweries "contributed thousands of crores to the state exchequers" for three decades. "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 tweeted.

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