“Please take it”, said Vijay Mallya, offering to pay back 100% of the principal loan amount that he owes to banks, just days before the UK court’s decision over Mallya’s plea to not extradite him to India.
Kingfisher Airlines boss and fugitive liquor baron Vijay Mallya fled to the UK in March 2016 after defaulting Rs 9000 crore loan scams to his airline company from several Indian banks. In 2017, the Scotland Yard charged him with extradition warrants for Mallya and he is currently on bail, facing trials in the UK court for avoiding his extradition to India. Within 24 hours of extradition of British national Christian Michel involved in the AgustaWestland scam, and just a few days before the UK court’s decision on his extradition to India, Vijay Mallya offered to pay back “100% of the principal amount” that he owes to banks.
In a series of Tweets on Wednesday, Mallya pointed out that how Kingfisher drinks group had contributed to banks and states with “thousands of crores” of rupees over three decades and also mentioned that the loans taken under the name of now-defunct Kingfisher Airlines were used to keep the airline afloat during high jet-fuel prices. Furthermore, Mallya offered “to pay 100% principal amount back” and asked the banks and government to “please take it”. He also denied that he had “ran away” with the public money.
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.
— Vijay Mallya (@TheVijayMallya) December 5, 2018
The ruling for Mallya’s extradition case is expected to be given on December 10 at the Westminster Magistrates’ Court in London, and the extradition of Michel from the UAE has raised the temperature high on the liquor baron’s end. But the statements showing willingness to pay back the loan amount could lead to a blockage on permission to bring Mallya back to India for proceedings on the fraud case.