'Settlement initiatives date back to 2016,' says Vijay Mallya after MJ Akbar's claim that liquor baron had years to repay debts

Akbar said if Mallya wanted to repay his bank dues, he had many years to do so.

FP Staff June 27, 2018 08:49:12 IST
'Settlement initiatives date back to 2016,' says Vijay Mallya after MJ Akbar's claim that liquor baron had years to repay debts

Reacting to M J Akbar’s statement at a press conference on Tuesday, fugitive liquor baron Vijay Mallya said in a series of tweets: My old friend MJ Akbar (now Hon'ble MOS) states that I had years to repay. My settlement initiatives date back to 2016. Most importantly the value of assets today in 2018 is far higher than in 2016.

Akbar said if Mallya wanted to repay his bank dues, he had many years to do so.

Settlement initiatives date back to 2016 says Vijay Mallya after MJ Akbars claim that liquor baron had years to repay debts

File image of Vijay Mallya. AP

"If Mallya wanted to pay to the banks, I think he had...many, many years in which he could have done so," Akbar told a press conference, in response to a question about the fugitive liquor baron claiming that he had tried to settle the dues and had become a victim of sorts.

Mallya conceded that government, courts and banks are 'rightfully concerned' about public money loaned by public sector banks. But he said he had made an application to the Karnataka High Court showing assets 'far in excess of the banks claims' and had requested sale under judicial supervision.

Mallya pointed out that the CBI and ED charge sheets specifically allege criminality with no intention to repay banks. Mallya said he has placed all his assets before the High Court."It is incorrect that my settlement offer before the Karnataka HC was motivated by the latest chargesheet under the media reported Fugitive Ordinance. I always had honest intentions to settle and there is ample proof. I hope the sale of assets is approved for banks," Mallya said.

The 62 year old also said that there was 'delaying tactics' or any agenda to 'gain brownie points'.

Mallya, who is wanted in India for bank loan default, said he had become the "Poster Boy" of bank default and a lightning rod of public anger, and that there was nothing he could do "if politically motivated extraneous factors interfere" with his efforts to settle the dues.

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