Take my money and save Jet Airways: In Kingfisher rant, Vijay Mallya renews payback offer

The ripple effects of the Jet Airways bailout were felt in far-away London. Absconding liquor baron Vijay Mallya, who saw his Kingfisher Airlines going bankrupt, has accused the NDA government for having ‘double standards.’ In a Twitter rant, Mallya accused both government and the banks in failing to save his airline. “Happy to see that PSU Banks have bailed out Jet Airways saving jobs, connectivity and enterprise. Only wish the same was done for Kingfisher,” Mallya said in one of his tweets.

“BJP spokesman eloquently read out my letters to PM Manmohan Singh and alleged that PSU Banks under the UPA Government had wrongly supported Kingfisher Airlines. Media decimated me for writing to the current PM. I wonder what has changed now under the NDA Government,” he added. Mallya slammed the Modi government and said that, “I invested over 4000 crores into Kingfisher Airlines to save the Company and its employees. Not recognised and instead slammed in every possible way. The same PSU Banks let India’s finest airline with the best employees and connectivity fail ruthlessly. Double standards under NDA.”

“And I repeat once again that I have placed liquid assets before the Hon’ble Karnataka High Court to pay off the PSU Banks and all other creditors. Why do the Banks not take my money. It will help them to save Jet Airways if nothing else,” Mallya said as he renewed his payback offer.

Last month also, Mallya had tweeted to PM Modi saying that he is not absconding. He also said that Indian banks must take the money that he has offered for the full recovery. “The Prime Ministers last speech in Parliament was brought to my attention. He certainly is a very eloquent speaker. I noticed that he referred to an unnamed person who “ran away” with 9000 crores. Given the media narrative I can only infer that reference is to me,” Mallya tweeted.

“Following on from my earlier tweet, I respectfully ask why the Prime Minister is not instructing his Banks to take the money I have put on the table so he can at least claim credit for full recovery of public funds lent to Kingfisher,” he said in another tweet.  Talking about his offer, Mallya said that, “I have made the offer to settle before the Hon’Ble High Court Court of Karnataka. This cannot be dismissed as frivolous. It is a perfectly tangible, sincere, honest and readily achievable offer. The shoe is on the other foot now. Why don’t the Banks take the money lent to KFA ?”he also slammed the ‘misleading public opinion.’ “Am appalled to say the least at the media reports on the Enforcement Directorate claims that I hid my wealth ! If there was hidden wealth how could I put approximately 14,000 crores worth of assets openly in front of Court ? Shameful misleading of public opinion but unsurprising,” he added.

Troubles are mounting for the embattled business tycoon as latest reports suggest that India may soon acquire details of his Swiss bank accounts. The latest move means that India will be able to know the extent of money stashed by the liquor baron in the secret account. According to a Hindustan Times report, the development came after the top court of Switzerland agreed to share the information with Indian authorities. The accounts are held at Edmond de Rothschild (Switzerland) SA and Compagnie Bancaire Helvétique (CBH) in names of Mallya and his companies, Drayton Resources, Black Forest Holdings and Harrison Finance, the HT report quoted a CBI official as saying.