I have offered to repay 100% of the principal, please take it: Vijay Mallya

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Fugitive businessman Vijay Mallya, on Wednesday, said that he offered to pay back the full amount of the principal loan he owed to multiple banks and asserted that all the allegations against him are false.

He has been accused of defaulting on bank loans to the tune of Rs 9,000 crore. Mallya left India in March 2016 and has been living in the UK since March 2016. An extradition case against him is being heard in a London court.

Mallya took to Twitter and wrote, “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. Sad.”

ALSO READ: Mallya asked to pay £88,000 to UBS for mortgage on London house

Mallya also reacted to news reports about his extradition to India. “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. I humbly request the Banks and Government to take it. If payback refused, WHY ?”

In the thread of tweets, Mallya claimed that Kingfisher Airlines struggled financially partly because of high ATF prices after it 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” he said.

ALSO READ: Didn’t have sufficient grounds to arrest Mallya, says CBI

“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,” Mallya added.

Last month, Mumbai special Prevention of Money Laundering Act (PMLA) court had rejected Vijay Mallya’s plea seeking a stay on hearing of Enforcement Directorate’s (ED) application to declare him a fugitive.

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