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Mallya Pleads Indian Govt to Accept Loan Repayment, Close Case

In Nation
May 14, 2020

Fugitive Indian businessman Vijay Mallya again urged the central government on Thursday to unconditionally accept his offer of bank loan repayment and close the case against him.

In a tweet, the embattled liquor baron alleged that his offer of 100 per cent payback to a consortium of public sector banks is being constantly ignored. “Congratulations to the government for a Covid-19 relief package. They can print as much currency as they want BUT should a small contributor like me who offers 100 per cent payback of state-owned bank loans be constantly ignored? Please take my money unconditionally and close,” Mallya tweeted.

Mallya is in the midst of a legal battle in the UK, with the Indian government trying to get him extradited to India to face enforcement authorities in connection with a Rs 9,000-crore bank fraud and money laundering case involving his now-defunct Kingfisher Airlines. The latest offer from him comes 10 days after he filed an application in the UK Supreme Court to prevent implementation of an earlier order that made his return to India imminent.

In the past also, Mallya had tweeted that he had offered to pay in full the money borrowed by Kingfisher Airlines to the banks concerned but neither the banks were willing to take the money nor the Enforcement Directorate was willing to release his attached assets. The ED has attached many properties of Mallya in the last few years under the Prevention of Money Laundering Act.

Mallya is being investigated by the CBI and the Enforcement Directorate in connection with the loan fraud case. He was arrested by the UK authorities on April 20, 2017 on the request of the Indian investigative agencies.