Will pay 100 per cent amount back even from ‘Indian Jail’: Vijay Mallya reiterates offer to banks

Vijay Mallya, who is on the verge of being extradited to India, has once again reiterated his promise to pay “100 per cent” back to the PSU banks. “Every time I say that I am willing to pay 100 percent back to the PSU Banks, media say I am spooked, terrified etc of extradition from the U.K. to India. I am willing to pay either way whether I am in London or in an Indian Jail. Why don’t Banks take the money I offered first?” Mallya tweeted.

Expressing his regret over the Jet Airways crisis, Mallya also slammed the government for discrimination between the private and public sector airlines. Questioning the 35,000 crore bailout package to Air India, Mallya held the Centre responsible for the collapse of Jet Airways and his Kingfisher Airlines.

“Even though Jet was a major competitor to Kingfisher at the time I feel sorry to see such a large private airline on the brink of failure when Government used 35K crores of public funds to bail out Air India. Just being a PSU is no excuse for discrimination (sic),” Mallya tweeted.

The liquor baron, who is facing charges of money laundering, fraud, and violation of Foreign Exchange Management Act (FEMA), had fled the country in March 2016 after banks initiated legal proceedings to recover the outstanding loan amount of over Rs 9,000 crore. He recently lost the legal challenge against his extradition in a British court.

Mallya had moved to a UK High Court against his extradition order but got no respite. The UK High Court also rejected the application of embattled liquor tycoon Vijay Mallya against the extradition order. With just Supreme Court option left for him, he has once again offered the banks to accept his 100 per cent payback offer. However, the banks are highly unlikely to accept the offer, given the ongoing Lok Sabha elections in which the Congress has been targeting the Narendra Modi government of allowing him to escape the country.