'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.

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.

— Vijay Mallya (@TheVijayMallya) June 26, 2018

CBI and ED charge sheets specifically allege criminality with no intention to repay Banks. Since 2016 I have been making efforts to settle. Now I have placed everything before the Hon’Ble Karnataka HC so where is the malafide ? Are Banks interested in repayment ?

— Vijay Mallya (@TheVijayMallya) June 26, 2018

Akbar said if Mallya wanted to repay his bank dues, he had many years to do so. [caption id=“attachment_4254413” align=“alignleft” width=“380”]  File image of Vijay Mallya. AP[/caption] “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.

Government, Courts and Banks are rightfully concerned about Public money loaned by Public Sector Banks. I have made an application to the Hon’Ble Karnataka HC showing assets far in excess of the Banks claims and requesting sale under judicial supervision. What more ?

— Vijay Mallya (@TheVijayMallya) June 26, 2018

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.

Government wants to recover money loaned by PSU Banks. They used CBI and ED to attach and recover. I, myself have placed all assets before the Hon’Ble Karnataka HC and submitted for sale. Banks should be very happy. But if the same CBI and ED object what do I do ?

— Vijay Mallya (@TheVijayMallya) June 26, 2018

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

It is sad that the narrative seems to question my honest intentions. There are no delaying tactics or any agenda to gain brownie points. What needs to be appreciated is a bona fide offer and commitment placed before the Hon’Ble Karnataka HC. Let Justice play its part.

— Vijay Mallya (@TheVijayMallya) June 26, 2018

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.