I am ready to repay 100 per cent of my debts: Vijay Mallya appeals to Indian banks

The outburst from Mallya comes hours after Christian Michel, the alleged middleman in the AgustaWestland chopper deal, was extradited from Dubai and brought to India on Tuesday

I am ready to repay 100 per cent of my debts: Vijay Mallya appeals to Indian banks

Five days prior to the UK court’s verdict regarding the extradition of Vijay Mallya, the Indian businessman, who is being investigated for money-laundering and fraud, has appealed to the banks to accept his offer to pay back 100 per cent of the principal loan amount he owes them.

Also Read: Vijay Mallya’s Confiscated Jet Gets A Bidder; Florida-Based Aviation Management Sales Buys It For Meagre ₹34.8 Crore

The fugitive businessman took to Twitter to say that the loans he took from the banks went into keeping his now defunct Kingfisher Airlines operational amidst high jet fuel prices.

Airlines struggling financially partly because of high ATF prices. Kingfisher was a fab airline that faced the highest ever crude prices of $ 140/barrel. Losses mounted and that's where Banks money went. I have offered to repay 100 % of the Principal amount to them. Please take it (sic)," he tweeted.

The 62-year-old left India in March 2016 after the banks got together to legally approach the Kingfisher owner to recover an outstanding amount of more than ₹9,000 crores. Accordingly, India had formally asked for his extradition in February last year. On the other hand, the "King of Good Times" is having a hard time, fighting India’s attempts to bring him back to the country to face trial.

"Kingfisher Airlines also contributed handsomely to the states. Sad loss of the finest Airline but still I offer to pay Banks so no loss. Please take it," he tweeted.

Earlier, Mallya had also written a letter to Prime Minister Narendra Modi stating that he had become the poster boy for 'money laundering' and said that he wishes to clear off the debts. 

In the meantime, Mallya continues to remain on bail on an extradition warrant executed by the Scotland Yard last year in regard to fraud and money laundering charges. The latest ruling for the case has been scheduled for December 10 at Westminster Magistrates' Court in London.

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