Vijay Mallya discloses letter written to Narendra Modi in 2016: 'Fall of Kingfisher Airlines caused by circumstances'

Mallya said he has been accused by politicians and the media alike of having stolen and run away with Rs 9,000 crore that was loaned to Kingfisher Airlines

FP Staff June 26, 2018 17:38:33 IST
Vijay Mallya discloses letter written to Narendra Modi in 2016: 'Fall of Kingfisher Airlines caused by circumstances'

Tired of "relentless pursuit" by "the government and its criminal agencies", Vijay Mallya on Tuesday said he had written letters to both Prime Minister Narendra Modi and the then finance minister Arun Jaitley, on 15 April, 2016, to explain his side of the story.

"No response was received from either of them," he said in a statement, in which he sought to state 'factual position' in response to the controversy surrounding him.

Mallya said he has been accused by politicians and the media alike of having stolen and run away with Rs 9,000 crore that was loaned to Kingfisher Airlines (KFA).

"As you will see, I made every possible effort to save Kingfisher Airlines including investing more than Rs 4000 crores which, sadly has been lost. This was a genuine business failure caused by circumstances beyond control", the KFA founder said in his letter to Modi.

The fugitive liquor baron also released a letter written by the State Bank of India (SBI) to the Reserve Bank of India (RBI). Mallya highlighted the SBI's view from the letter, which said that the lender believed "Kingfisher Airlines had been making every effort to achieve satisfactory performance operations through the infusion of substantial funds and keep the airline as a going concern, despite facing severe constraints." 

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