Ready to talk to banks for one-time settlement of Rs. 9,000-cr. loan default: Mallya

March 10, 2017 12:19 pm | Updated December 03, 2021 12:46 pm IST - New Delhi

Vijay Mallya

Vijay Mallya

Embattled businessman Vijay Mallya on Friday took to Twitter, saying he is ready to negotiate with banks for one-time settlement of 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 added.

On Thursday, the Supreme Court posed a question to Mally a about the “truthfulness” of his disclosure of assets and transfer of $40 million to his children.

A Bench of Justices Adarsh Kumar Goel and U U Lalit put forth the queries during the day-long hearing following which it reserved the orders on two pleas from lenders seeking contempt action against Mallya and a direction to him to deposit $40 million received from offshore firm Diageo.

Last month, the Indian government handed over to the UK an extradition request for the businessman, who is facing cases of loan default and other financial irregularities.

Mallya, whose now-defunct Kingfisher Airlines owes more than Rs 9,000 crore to various banks, had left India on March 2.

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