Banks rejected Vijay Mallya’s offer of Rs. 4000 crore: SC asked Mallya to speak up how much he can deposit with court


New Delhi: The proposal of Rs. 4000 crores which the liquor- baron, Vijay Mallya has made earlier in the Supreme Court in favour of consortium of banks, now, is being rejected by the group of banks, as they have stated before the Supreme Court of India.

It was seen today, that the said consortium of banks, led by the SBI- State Bank of India informed the honourable Supreme court of India that the they has a meet on second day of this month, and then after discussing over the said proposal made by the businessman- Vijay Mallya, they decided to reject the same.

Moreover, while telling the court, about their decision, the banks also found claiming that for the meaningful negotiation with businessman- Mallya, he needs to be present in person. Also, as per the banks, they have also rejected the second proposal from the Mallya and its details were not immediately available.

It was seen in the year 2012 (October) when the Kingfisher (a company belonging to Vijay Mallya) was ceased to its operations, had owned the banks (most of them are state- running) a 9,091 crores of rupees, including the interest and fees as of November, last year.

Moreover, in such a situation, the court has now decided to order the businessman- Mallya to tell the court, ‘how much money he can deposit with the court’ for proving that he is intending to make a meaningful settlement. Thus, his response to this order are also sought by the court, to be made by 21st day of this April and also court further asked the banks to respond to the said response which the Mallya would be filing by 25th day of this month. Also, beside ordering the same, the court also seemed stating that businessman- Mallya should also indicate that when he would be appearing in person in the court.

It is notable that the businessman and MP- Vjaya Mallya earlier in the last month went to London and in spite of regular calls for the interrogation, he refused to return back to India. However, he always shows that he is not absconding and has respect towards law.

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