The Indian Wire » News » Vijay Mallya offers to pay 100%; Makes ‘Humble Request’ to banks

Vijay Mallya offers to pay 100%; Makes ‘Humble Request’ to banks

Vijay Mallya

Fugitive liquor tycoon Vijay Mallya, who is being investigated for fraud and money-laundering, on Wednesday appealed to various Indian banks to “accept” his offer to pay back “100 per cent” of the principal loan amount he owes them. These tweets have come five days ahead of UK court’s verdict on whether he should be extradited to India or not.

India formally asked for his extradition in February last year.

He tweeted in a series:

The now-defunct Kingfisher Airlines and others owned by Mallya availed huge loans worth more than 9000 crores from various banks. He left India in March 2016 after banks joined hands to initiate the legal proceedings to recover the outstanding.

In the UK for the past two years, he has been fighting India’s attempts to bring him back to face trial.

He remains on bail on an extradition warrant executed by the Scotland Yard last year on fraud and money laundering charges. A ruling at the end of his extradition trial is expected at Westminster Magistrates’ Court in London on December 10.

The baron wrote to PM Modi earlier this year where he assured that he was “making every effort” to settle his dues to banks but he had been made the “Poster Boy” of bank default and a lightning rod for public anger.

Mallya’s “promising” tweets came hours after alleged AgustaWestland VVIP chopper deal middleman Christian Michel was brought to India from Dubai, the first successful extradition since India initiated similar proceedings against economic offenders like Mallya, Nirav Modi and Mehul Choksi.

Recently, Union Finance Minister Arun Jaitley assured that “the trio would soon follow Michel.”

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