Vijay Mallya outside the UK court hearing his extradition case in September. (Photo by Jack Taylor/Getty Images)In a series of new tweets, disgraced businessman Vijay Mallya who is currently facing extradition proceedings in the United Kingdom (UK) over fraud and money laundering charges pressed by the Indian government, has made an offer to pay back ‘100 per cent of the principal amount’ he owes to Indian banks, Mint has reported.
Mallya is currently out on bail on an extradition warrant which was executed against him by the Scotland Yard last year. He is fighting a court battle to prevent his extradition to India.
The exiled businessman made similar claims of offering to pay back the debt amount to Indian Banks twice but stated that they had refused his offer. Mallya lamented that he had been turned into the ‘poster boy’ of bank defaults and had become the scapegoat for public outrage.
Mallya reiterated his plea that he was willing to make public coffers whole again, but that his offers were being continuously rejected.
Mallya has been accused of embezzlements to the tune of Rs 9,000 crore, mostly related to the bank loans for Kingfisher Airlines. He has complained of being labelled a ‘wilful defaulter’ by several banks despite his willingness to pay, the Mint report says.
An Appeal...
Dear Reader,
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.