Mallya and his now-defunct Kingfisher Airlines owe some Rs 9,000 crore to a conglomerate of banks. A verdict in his extradition trial is expected in five days' time, on December 5, at the Westminister Magistrates Court.
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.
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.
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.
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 left India in March 2016 after the banks got together to initiate legal proceedings against him to recover their dues.
In June this year, Mallya said he had written to both Prime Minister Modi and Finance Minister Arun Jaitley, explaining his side of the story. He said he got no reply from them.
He added that he had twice tried to settle with the banks, but his offers were rejected.
He said he had become the "Poster Boy" of bank default and a lightning rod of public anger, and there's nothing he could do "if politically motivated extraneous factors interfere" with his efforts to settle the dues.
He added that he was tired of the "relentless pursuit" of him by "the government and its criminal agencies".