Vijay Mallya | National News | Business NewsBusiness Featured 

Vijay Mallya offers to return 100% of the Loans and Public Money

The politician and business tycoon Vijay Mallya who was charged in the case of liquor and money laundering. Mallya said on Wednesday that he will pay back the entire principal amount of Rs. 5,500 crore as he owned from various banks. And he also said that he will return 100% of public money.  Vijay Mallya who is being investigated for fraud and money laundering has been living in the United Kingdom for the past two years. Vijay Mallya who fled away in 2016 to U.K. is wanted in India over a default of Rs. 9000 crore was loaned to Kingfisher Airline by several banks and he has been told to pay all the loans.

Vijay Mallya | National News | Business News
Vijay Mallya | National News | Business News

According to the report of an official, Vijay Mallya said that “Airline was struggling financially partly because of high ATF prices. Kingfisher was a fabulous airline that faced the highest ever crude prices of $140/barrel. Losses mounted and that’s where bank’s money went.”


Vijay Mallya also expressed anguish over him being tagged as a defaulter asking him to be given a hearing and fair treatment. Vijay Mallya who is currently on bail on an extradition warrant executed by the Scotland yard on financial fraud and money laundering charges. He also said that he has been falsely marked as “defaulter” by the politicians and by the media.

He has also quoted that: “I see that media is quick in speaking about his extradition decision.”

In September the UK court had Fixed December 10 as the day to deliver its verdict, whether beleaguered liquor baron can be extradited to India to face charges of fraud and money laundering amounting to around Rs 9,000 crore.

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