Vijay Mallya offers to ‘repay 100%’ principal amount to banks, says ‘please take it’

In a series of tweets, the business tycoon said “Airlines struggling financially partly becoz of high ATF prices. Kingfisher was a fab airline that faced the highest ever crude prices of $ 140/barrel. Losses mounted and that’s where Banks money went. I have offered to repay 100 % of the Principal amount to them. Please take it. ”

On Twitter, he also wrote ““I see the quick media narrative about my extradition decision. That is separate and will take its own legal course. The most important point is public money and I am offering to pay 100% back. I humbly request the Banks and Government to take it. If payback refused, WHY ?,” (Image: PTI)

NEW DELHI: Fugitive businessman Vijay Mallya on Wednesday said that he has offered to repay 100 % of the Principal amount to Banks and pleaded to 'please take it'. In a series of tweets, the business tycoon said “Airlines struggling financially partly becoz of high ATF prices. Kingfisher was a fab airline that faced the highest ever crude prices of $ 140/barrel. Losses mounted and that’s where Banks money went. I have offered to repay 100 % of the Principal amount to them. Please take it. ”

Airlines struggling financially partly becoz of high ATF prices. Kingfisher was a fab airline that faced the highest ever crude prices of $ 140/barrel. Losses mounted and that’s where Banks money went.I have offered to repay 100 % of the Principal amount to them. Please take it.

— Vijay Mallya (@TheVijayMallya) December 5, 2018

The 62-year-old fugitive business tycoon has been living in the UK since March 2016 after some state-run and private banks moved the Tribunal here against sale of his assets, including shares in his group firms for not paying back the loans over Rs 9,000 crore he raised to sustain his loss-making airline. On Twitter, he also wrote “I see the quick media narrative about my extradition decision. That is separate and will take its own legal course. The most important point is public money and I am offering to pay 100% back. I humbly request the Banks and Government to take it. If payback refused, WHY ?,” Mallya further added, “For three decades running India’s largest alcoholic beverage group, we contributed thousands of crores to the State exchequers. Kingfisher Airlines also contributed handsomely to the States. Sad loss of the finest Airline but still I offer to pay Banks so no loss. Please take it. “Politicians and Media are constantly talking loudly about my being a defaulter who has run away with PSU Bank money. All this is false. Why don’t I get fair treatment and the same loud noise about my comprehensive settlement offer before the Karnataka High Court. Sad.” he said The 62-year-old former Kingfisher Airline boss, who has been on bail on an extradition warrant since his arrest in April last year and is fighting extradition to India on charges of fraud and money laundering amounting to around Rs 9,000 crores.