Vijay Mallya is Ready to Make One-Time Settlement with Bank

Vijay Mallya is Ready to Make One-Time Settlement with Bank

Vijay Mallya a business tycoon was recently declared bankrupt. Following bank decided to sell all his assets. He owes INR 9000+ crore amount to the banks.

After being bankrupt, on 2nd March 2016 he flung to UK, where he owns decent amount of property and business.

Now, Mallya chooses to settle all his problems with the banks as well as government. He says that he is ready to pay a one-time settle charge of INR 9,000 crore loans.

He claims, ‘public sector banks have policies for one-time settlements. Hundreds of borrowers have settled. Why should this be denied to us?

He charged, ‘our substantial offer before the hon’ble Supreme Court was rejected by the banks without considerations.’ Further, he requested the Supreme Court to intervene in the matter and direct the banks to negotiate and settle with him.

He adds, ‘humbly obeyed every single court order without exception’ and ‘seems as if government is bent on holding

me guilty without fair trail.

He says, ‘we are ready’ to settle all the problems.

 

The apex court asked Mallya to disclose all his and his family assets after the banks spurned his offer to pay INR 4000 Crore to settle all his debts.

Attorney General Mukul Rohatgi charged Mallya as he failed to disclose the $40 million deal with London-based Company Diageo to the Supreme Court. Following this, Supreme Court asked Mallya to be truthful in the matter.

“You answer us whether you have disclosed your assets truthfully? Did you violate the Karnataka High Court order by transferring $40 million.”

Last month, the Indian government placed the extradition request to the UK government for Vijay Mallya as he is facing cases of loan default and other financial irregularities.