Now Mallya files ‘proposals’ for repayment of Rs. 4000 crores to banks: Court sought replies from Banks

Vijay-Mallya

New Delhi: It was seen today, i.e. on 30th March, that the Business tycoon- Vijay Mallya and Kingfisher Airlines Ltd. has submitted their proposal in the sealed cover, where they sent offer for repayment to the consortium banks, headed by the State Bank of India of Four Thousand crores of rupees by the month of September, this year.

Also, the proposal is also being submitted by the United Breweries (Holdings) Ltd. and Kingfisher Finvest (India) Ltd. along with Mallya and Kingfisher. It is notable that rupees two thousand crores are proposed to be paid by Mallya upfront and the rest money would be payable by him, by the 30th day of September, this year.

It was seen that the offer from the side of liquor king- Mallya was made by his counsel- C. S. Vaidyanathan before the honourable Supreme Court of India.

However, when a question as to whether Vijay Mallya is intending to come back to India from London or not, his counsel remained silence.

Moreover, by fixing the matter on 7th day of April, this year, the honourable Supreme Court of India has also allowed the consortium of banks to file respond within a period of week, on the proposals so sought by the businessman- Vijay Mallya.

While the matter was so, the counsel on behalf of Mallya also sought to allege that the media is running campaign against him, however, in such response, the honourable Apex Court observed that the media is doing its job in the interest of public.

It was seen earlier on 9th day of March that the Court was informed by the Government that Vijay Mallya has left the country few days back. Mallya is facing legal proceedings for the allegedly defaulting loans of over Nine thousand crores of rupees from various banks.

However, then the Apex Court sought to issue notice against him and required him that time to file response on the pleas of the Consortium of banks in Two weeks thereof. The pleas were besides contending other claims, were also seeking for directions to the effect that his passport be frozen and his presence was claimed thereby.

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