Published On: Fri, Apr 22nd, 2016

Vijay Mallya Offer Rs 6,868 Crore for Bank Settlement

Thursday, Mallya made a statement that he offer Rs 6.868 crore also he was prepared to deposited Rs 2,468 Crore over and above the earlier offer Rs 4, 400 against demand of Rs 9,000 Crore to State Bank of India. But, court remained by unchanged question about his return to India.

Mallya informed that this could be the best offer that he could make, and his Kingfisher airlines was ruined due to the hike prices of oil, hike taxation and faulty aircraft engines. Offered is being made by Mallya and he also state due to that it resulted in loss of Rs 6,107 Crore to him and his company.

Vijay Mallya Offer Rs 6,868 Crore for Bank Settlement

He said, his three children Siddartha, Leana and Tanya were all US citizens and his wife estranged had been living in California since 1996, even though they are not amenable to Supreme Court jurisdiction. Mallya drew a list of some property in India and abroad as a sealed cover of demand Rs 9,000 Crore as he was ready to deposit Rs 6, 868 Crore to court as consortium of bank settlement.

Mallya said Rs 1, 1591 crore could be deposited upfront in SC by selling UB’s shares in United spirits Rs (660 crore) United Spirits shares (Rs 243 crore) with Kingfisher and (Rs 688 crore shares with Kingfisher Airlines. He also stated that Rs 1,329 crore deposited in various case before Karnataka HC could be pledged.

Mallya claim Court to be NRI

Mallya claim Supreme Court to be NRI with affidavit certificate that a non-resident Indian is not obliged to disclose overseas assets even in his I_T returns and seek to file the asset detail in sealed cover on April 26. He also added, ‘’no part of his overseas assets have been acquired from any loan or facility extended by to KFA’’.

He said, settlement was negotiable and he was ready to negotiate and clear but could not held it with conductive way as government suspended his passport and issuance of NBW and ‘’ UB group had infused large sums of money in it by way of loans.