Vijay Mallya, the liquor tycoon recently took to social media to repeat his offer of paying back 100 percent of his dues that he owed to the state-owned Indian Banks. The payback he promises to pay in full is to cover the debt that Kingfisher Airlines had incurred, resulting to its shutdown.
Mallya, owner of Kingfisher Airlines (KFA) has also appealed to the court to stop the extradition order against him from the UK. The extradition order requires Vijay Mallya to extradite the tycoon from the UK to India to face charges of money laundering and fraud, amounting to a whopping Rs. 9,000 crores.
In the tweet he posted, Mallya also lamented over the collapse of Jet Airways, India’s leading private airline. Jet Airways services came to a halt owing to the cash crunch it faced. “Several Indian airlines collapsed sadly including KFA. Now the previously unthinkable has happened with the collapse of Jet,” tweeted Mallya on Monday.
He also questioned as to why he is being criminally charged by the CBI and ED despite offering 100 percent payback.
“Watched TV debate on the sad collapse of Jet which included unpaid employees and Industry veterans. Important issues on unemployment and suffering, security available to banks, prospects of revival etc. Here I am offering 100% payback of KFA loans, which Banks won’t take. Why?” he said.
Mallya is currently appealing to the UK High Court against the extradition order that was executed by the Scotland Yard in April 2017. He has been allocated a date, July 2nd, for permission to appeal and convince a High Court judge against the order that was in favour of his extradition process given by Chief Magistrate Emma Arbuthnot’s Westminster Magistrates’ Court.
The business tycoon is facing several other cases in UK courts, which include the threat of foreclosure of one of his homes in London and the worldwide freezing order.