Vijay Mallya proposes Rs 4000 crores by September 31 this year

Vijay Mallya has finally come to the negotiation table and is willing to settle all his claims for Rs 4,000 crore. The amount is less than half the Rs 9,000 crore he owes to a consortium of banks, which contains nearly Rs 6,963 crore in borrowed principal. Banks have asked the Supreme Court for time to consider the proposal.