United Breweries chairman Vijay Mallya has offered to pay back “100% of the principal amount” that he owes banks. He made the offer days before a UK court rules on his bid to block his extradition to India.
Mallya, who remains on bail on an extradition warrant executed by the Scotland Yard last year, is fighting extradition to India on charges of fraud and money laundering.
“I see the quick media narrative about my extradition decision. That is separate and will take its own legal course. The most important point is public money and I am offering to pay 100% back. I humbly request the banks and government to take it. If payback is refused, why?” Mallya said in the first of a series of tweets on Wednesday morning.
Through his twitter account @TheVijayMallya, he stated: “I see the quick media narrative about my extradition decision. That is separate and will take its own legal course. The most important point is public money and I am offering to pay 100% back. I humbly request the Banks and Government to take it. If payback refused, WHY?”
“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 stated in another tweet.
Mallya, whose extradition case ruling will be delivered on 10 December, said Kingfisher Airlines floundered because of rising prices of air turbine fuel.
“Politicians and media are constantly talking loudly about my being a defaulter who has run away with PSU bank money. All this is false. Why don’t I get fair treatment and the same loud noise about my comprehensive settlement offer before the Karnataka high court. Sad,” Mallya said tweeted.
It maybe noted that in June 2017, the ED filed a chargehseet under the Prevention of Money Laundering Act (PMLA) alleging that Mallya fled to the UK on 2 March 2016 as a consortium of 13 banks, led by the State Bank of India closed in on him, with Mallya owing ₹9,000 crore.
The ED also moved a special Prevention of Money Laundering Act court in July to declare the now defunct Kingfisher Airline chief a “fugitive economic offender” and to confiscate all his properties to the tune of Rs 12,500 crore.