Vijay Mallya says he is willing to settle with PSBs; UK court likely to deliver verdict on extradition plea on 31 July

Fugitive liquor baron Vijay Mallya, who is wanted in India over loan default, on Tuesday said he has become the "poster boy" of bank default and a lightning rod of public anger.

Breaking his silence after a long time, to state the "factual position in response to the controversy unfortunately surrounding" him, Mallya said he had written letters to both the Prime Minister and the finance minister on 15 April, 2016 to explain his side of the story.

"No response was received from either of them," he said in a statement.

Mallya has reportedly said that he has made and will continue to make every effort to settle the case with public sector banks (PSBs) adding that he is tired of "relentless pursuit by the govt and its criminal agencies". Mallya also said that recovery of loan is a civil case which has been criminalised in his case.

According to ET Now, Mallya said that some of the claims made by the consortium of banks are bogus. “Bulk of the claims of PSU Banks is on account of interest,” he said.

VIjay Mallya. File Photo. Reuters

VIjay Mallya. File Photo. Reuters

He further said,"I have been accused by politicians and the media alike of having stolen and run away with Rs 9,000 crores that was loaned to Kingfisher Airlines (KFA). Some of the lending Banks have also labelled me a wilful defaulter".

Mallya, who is currently fighting against extradition to India from the UK, also said the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) have filed charge sheets against him "with various untenable and blatantly false allegations acting at the behest of the Government and lending Banks".

In London, a lower court is likely to deliver its verdict on the liquor baron's extradition plea on 31 July.

"The ED has also attached assets belonging to me, my Group Companies and companies owned and/or controlled by my family under the Prevention of Money Laundering Act (PMLA) currently valued at approximately Rs 13,900 crore," he added.

In March 2017 also Mallya said he was ready to negotiate with banks to pay a one-time settlement charge on Rs 9,000-crore loan default. "Public sector banks have policies for one-time settlements. Hundreds of borrowers have settled. Why should this be denied to us? Our substantial offer before the honourable Supreme Court was rejected by banks without consideration. (I) am ready to talk settlement on fair basis," Mallya said in a tweet.

He further said: "Wish the Supreme Court would intervene and put an end to all this by directing banks and us to negotiate and settle. We are ready." Mallya added that he has "humbly obeyed every single court order without exception" and "seems as if government is bent on holding me guilty without fair trial".

"The allegations against me by the Attorney General before the Supreme Court only prove the attitude of the government against me," he went on to say.

Last week, the Enforcement Directorate (ED) moved court against Mallya seeking to declare him a 'fugitive offender' and to confiscate his assets worth Rs 12,500 crore.

Officials said the central probe agency filed an application before a special court in Mumbai, under the recently promulgated Fugitive Economic Offenders Ordinance, that empowers it to confiscate "all linked assets" of an absconding loan defaulter.

With inputs from PTI


Updated Date: Jun 26, 2018 15:52 PM

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