'Falsely called defaulter': Mallya offers to return 100% of public money

Vijay Mallya | Reuters Vijay Mallya | Reuters

Fugitive liquor tycoon Vijay Mallya on Wednesday said his extradition from the UK to India will take its own legal course, while offering to pay back 100 per cent of "public money".

Mallya, who has been fighting a legal battle against his extradition to India, claimed that he had been falsely dubbed as a "defaulter" by politicians and the Indian media.

"I see quick media narrative about my extradition decision. That is separate and will take its own legal course," Mallya said in a series of tweets.

In September, a UK court had fixed December 10 as the date to deliver its verdict on whether beleaguered liquor baron can be extradited to India to face charges of fraud and money laundering amounting to around Rs 9,000 crore.

Mallya further said, "The most important point is the public money and I am offering to pay 100 per cent back. I humbly request the banks and government to take it. If payback refused, WHY (sic)," he added.

Mallya, who fled to the UK in March 2016, is wanted in India over default of Rs 9,000 crore that was loaned to Kingfisher Airlines (KFA) by several banks.

He, however, said, "Politicians and media are constantly talking loudly about me being a defaulter, who has run away with PSU bank money. All this is false.”

"Why don't I get fair treatment and the same loud noise about my comprehensive settlement offer before Karnataka High Court. Sad,” Mallya tweeted.

Mallya claimed he had made the offer to settle the dues to the banks since 2016.

Reflecting on the downfall of Kingfisher Airlines, he said, "Airlines are struggling financially because of hight aviation turbine fuel (ATF) prices." Mallya further said Kingfisher also faced the "highest ever crude prices of $140 per barrel."

"Losses mounted and that's where the banks' money went. I have offered to repay 100 per cent of the principal amount to them. Please take it," Mallya tweeted.

Mallya's tweets came hours after alleged AgustaWestland VVIP chopper deal middleman Christian Michel was brought to India from Dubai, the first successful extradition since India initiated similar proceedings against economic offenders like Mallya, Nirav Modi and Mehul Choksi.