Vijay Mallya offers to repay his loan

ANIMESH SRIVASTAVA 05/12/2018 17:30 PM


New Delhi, Dec 5: Businessman Vijay Mallya who is a fugitive and fighting an extradition case in the UK has appealed to various Indian Banks to accept his offer to pay back 100% of the principal amount owed to banks.

Mallya posted a series of tweets on Monday saying that the huge loans he took from the banks were to run his now defunct Kingfisher Airlines amidst high fuel prices. 

Mallya tweeted, “ 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.”
In another tweet, he 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.”

Mallya is out on bail under an extradition warrant executed by the Scotland Yard. Mallya claimed that he offered two settlement offers to the banks the banks denied to accept those offers.

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