Repeating his stand, the fugitive Mr. Mallya has tweeted this morning, appeals to banks to accept his offers to repay the principal loan amounts that he owes. Mr. Mallya continued that he wants to end the narrative of him having ‘stolen’ money from lenders.
On Wednesday, 62-years-old Vijay Mallya has made the same appeal in a series of tweets, offers banks to “repay 100 percent of the principal amount”. He continued that the huge amount of loans that he took from various banks went into keeping his now-obsolete Kingfisher Airlines afloat despite high jet prices of fuels.
The Fugitive, Kingfisher Airlines, and other escapists businessmen have availed huge amount of loans from various Indian banks. Mr. Mallya has escaped from the country in March 2016 after banks got together to start the legal proceedings to recover the outstanding amount of more than 9000 crores. In February 2017, Indian has formally asked for Mr. Mallya’s extradition from the London.
He is now in the United Kingdom and above 2-years there fighting against India’s attempt to bring his back to the country to face the trial.
Earlier this year, in a letter to the PM Modi, the tycoon said that he was “making every effort” to settle his dues to banks but he had been wrongly made the “Poster Boy” of bank default and also a lightning rod for public anger.
Vijay Mallya remains on bail on an extradition warrant, which was last year executed by the Scotland Yard on money laundering and fraud charges. A ruling at the end of Mr. Mallya’s extradition trial is expected at Westminster Magistrates’ Court on December 10 in London.