Mallya offers to redeem loan principal to banks


New Delhi: The fugitive businessman Vijay Mallya has offered to pay one hundred percent loan principal outstanding to banks.

Mallya who is in London and just five days ahead of his extradition hearing, in a series of tweets on Wednesday, has offered to pay the amount outstanding against his now-defunct airline Kingfisher.

The business tycoon, has however, asserted that all the allegations against him are false.

A London court has  finished  hearing on India’s extradition case against Mallya in September and is scheduled to deliver a  verdict on December 10.

In his twitter handle Mallya  said politicians and media are constantly branding  him as a defaulter who has run away with bank money. All this is false.

In another tweet, Mallya claimed Kingfisher struggled financially partly because of high ATF prices.Losses mounted, he said.

He said as India’s largest alcoholic beverage group, his company has  contributed thousands of crores to the state exchequers. Kingfisher Airlines also contributed handsomely to the states.


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