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Vijay Mallya offers to repay 100% to banks

Fugitive tycoon Vijay Mallya, who is being investigated for fraud and money-laundering, on Wednesday again made an appeal to banks to accept his offer to payback 100 per cent of the principal loan amount.

Mallya also denied that his move was linked to the extradition proceedings against him.

Mallya’s tweets came hours after alleged AgustaWestland VVIP chopper deal middleman Christian Michel James was brought to India from UAE.

Michel’s extradition is the first successful extradition since India initiated similar proceedings against economic offenders like Vijay Mallya, Nirav Modi and Mehul Choksi.

Vijay Mallya took huge loans from banks for keeping his now-defunct Kingfisher Airlines afloat despite high jet fuel prices. The outstanding amount, including interest is Rs 9,990.07 crore.

In his tweet, Mallya also claimed that his vast liquor empire, the United Breweries, contributed “handsomely” to state exchequers.

62-year-old Vijay Mallya left India for the UK on March 2, 2016, and has been fighting India’s attempts to bring him back to face the legal action.

He is currently in London where a court finished hearing on India’s extradition case against him in September this year and is due to pronounce its verdict on December 10.

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