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UK Extradition says Vijay Mallya offer to repay 100% loan to PSU bank

Escaped liquor baron, Vijay Mallya, said that he offered to pay 100% amount of the principal loan which he owes from multiple banks.

This is not the first time Mallya has spoken about wanting to repay the banks fully. a senior official of a large public sector bank that is a part of the association, said: “His offer was very complicated then and we only stood to lose. We can accept only if we get entire money back. It must be a direct settlement if he wants to further repay.”

He even wrote letter to PM earlier this year, he said that he was making every attempt to settle his dues but has been depict as the poster boy of bank defaults in India.

Vijay Mallya’s defence during his extradition trial yesterday claimed that a association of Indian banks led by State Bank of India (SBI) rejected an offer by the liquor baron in early 2016 to pay back nearly 80 per cent of the principal loan amount owed to them. as of now he is ready to pay 100% of the principal amount

Vijay Mallya Tweeted : “The most important point is public money and I am offering to pay 100% back. I humbly request the Banks and Government to take it. If payback refused, WHY ?

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