The abominable defiance of Vijay Mallya: Wilful defaulter now says PNB not 'the only bank'

Defiance, thy name is Vijay Mallya.

The liquor baron, one of the top defaulters to Indian banks, continues to be one of those recalcitrant kids, even as public sector banks are reeling under huge NPAs and the issue has become a key talking point for even the lay man.

Other wise how could he defy Punjab National Bank, the state run bank that declared him a 'wilful defaulter' just few days back.

The abominable defiance of Vijay Mallya: Wilful defaulter now says PNB not the only bank

File photo of Vijay Mallya. Reuters

According to reports, Vijay has said "PNB is not the only bank" and promised will do what he has to do. Earlier, the flamboyant businessman had won a court case against United Bank after the bank tagged him a wilful defaulter. He seems to alluding to this case.

Mallya also said everybody has his own "perception" about his lifestyle and he would not comment on it.

He, however, maintained his future action was to achieve settlement with banks.

PNB is the third public sector bank to declare now defunct Kingfisher Airline and its two guarantors - United Breweries (Holdings) Ltd and Mallya - as wilful defaulters. Earlier, after United Bank of India, SBI had done the same.

Talking to Times Now news channel, Mallya said PNB was "not the only bank" and he "will do what he has to do."

He said he had "no comment to make" when asked about RBI Governor Raghuram Rajan's recent comment on lavish birthday parties thrown by loan defaulters.

"Listen everybody has their own perception. I don't want to comment," he said when asked about his lifestyle.

Mallya said he would not comment on PNB, which had loaned Rs 800 crore to his now defunct airline, declaring him a wilful defaulter. "I have no reaction at all. I don't comment on these things," he said.

"I have no comment to make," he said. "My only future (course of) action is to achieve settlement with banks."

He, however, refused to say how he would achieve that or the timeframe in which he would pay up outstanding loans.

"That is it. I have nothing more to say," he said when asked how he plans to reach a settlement with banks.

Asked about the timeframe for repaying loans or reaching a settlement, he said, "why are asking me the same question in 10 different ways."

Pressed how he plans to achieve settlement with banks, he said, "why are you bothered about my business, please."

When pointed out that questions are being raised because it involved tax payers public money, he said, "Listen, I am making all possible efforts to settle with the banks. That's all I am prepared to say."

Asked when he would clear every penny that he and his companies owe to bank, Mallya said, "Listen, why are you going on and on. Are you the Government of India or are you the RBI Governor asking me all the questions."

When told that these are the questions that RBI has asked, he said, "fair enough. If RBI asks me any question, I will respond to the RBI."

Asked about PwC report alleged fund diversion, he said, "I don't want to answer about anything. I have not commented to the media and I don't want to comment."

In April 2015, Diageo-controlled USL Board said it has "lost confidence" in Vijay Mallya after an internal probe and a forensic inquiry by PwC revealed alleged fund diversion to Kingfisher and other UB group entities.

With PTI

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Updated Date: Feb 19, 2016 10:53:13 IST

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