[dropcap]O[/dropcap]n Wednesday, Vijay Mallya, the fugitive businessman is under investigation for fraud and money-laundering, said that he offered to pay back the full amount of the principal loan he owed various banks.
In a series of tweets, the businessman complained about not getting fair treatment, and claimed charges of him labelled as a defaulter is false. This comes just 5 days ahead of his extradition verdict in the UK court. A ruling at the end of his extradition trial is expected at Westminster Magistrates’ Court in London on December 10.
“Airlines struggling financially partly becoz 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 (sic),” he wrote in another tweet.
“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 offered again.
Rubbishing a news report, Mallya claimed that he had made settlement offers since 2016 as well.
Vijay Mallya, his now-defunct Kingfisher Airlines and others availed huge loans from various banks.
The 62-year-old businessman left India in March 2016 after banks got together to initiate legal proceedings in order to recover an outstanding of more than Rs 9,000 crores. India formally asked for his extradition in February last year.