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Vijay Mallya makes another offer of 100% loan payback

Vijay Mallya makes another offer of 100% loan payback

New Delhi: The 63-year-old former Kingfisher Airlines boss and liquor tycoon Vijay Mallya, took to Twitter once again to repeat his 100 percent loan payback offer and quoted finance minister Nirmala Sitharaman’s Lok Sabha statement from last week in his latest offer.

“Business failures in this country should not be tabooed, or looked down. On the contrary, we should give an honourable exit or resolution to the problem in letter and spirit of the IBC. Finance Minister’s reported statement,” Mallya said.

In the wake of the death of Cafe Coffee Day founder V G Siddhartha, Nirmala Sitharaman made the statement while responding to the debate on the amendments to the Insolvency and Bankruptcy Code (IBC) in the Lok Sabha last week.

Mallya had previously taken to Twitter to relate between his situation and that of Siddhartha, who had supposedly written a suicide note that pointed to harassment by the Income Tax Department before his body was found near a river on the outskirts of Mangalore.

“The Govt Agencies and Banks can drive anyone to despair. See what they are doing to me despite offer of full repayment. Vicious and unrelenting,” Mallya said last week.

Mallya remains on bail pending his UK High Court appeal, now scheduled for February 2020, in the extradition proceedings brought by India in relation to charges of fraud and money laundering amounting to an alleged Rs 9,000 crores.

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