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Vijay Mallya offers to repay 100% loan principal amount to banks

Businessman Vijay Mallya, undergoing extradition trial in a UK court over fraud and money laundering charges by Indian authorities, has offered to pay back “100% of the principal amount” owed to banks. In a series of tweets, Mallya, said: “I am offering to pay 100% back. I humbly request the banks and government to take it.”

In another tweet, Vijay Mallya, who had fled to the UK in March 2016, said: “For three decades running India’s largest alcoholic beverage group, we contributed thousands of crores to the state exchequers. 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.”

In his tweet, he said that due to higher crude prices losses had mounted in the now-defunct Kingfisher Airlines. Mallya, who remains on bail on an extradition warrant executed by the Scotland Yard last year, is fighting extradition to India on charges of fraud and money laundering.

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