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Viajay Mallya still has good time playing around with all authorities & figures

Thu, Apr 14, 2016, 12:10 PM
Faced with the prospect of scrapping of his passport, the heavily indebted Kingfisher Airlines chief, Vijay Mallya, has made a calibrated offer of returning Rs 6000 crore to the banks from which he had enjoyed over Rs 9000 crore loans.

While Vijay Mallya wants to make staggered payments from the amount of Rs 6,000 crore, the banks told him to pay Rs 4900 crroe plus interest thereon immediately, which works out to Rs 9000 croe, to show his commitment.

Vijay Mallya has to reply to the banks and not social media by April 21 and the banks are to respond to his offer by April 25. The Supreme Court will review the Mallya situation on April 26.

The court had already asked Mallya to disclose his assets after the banks rejected his earlier offer.

Mallya started the three-Aces game with the banks by first offering Rs 2000 crore, then Rs 4000 crore and now Rs 6000 crore.

Sensing that his time was up with the intervention of the Supreme Court asking for listing his assets and the Enforcement Directorate writing to the Ministry of External Affairs to scrap his passport in connection with the money-laundering cases against him, the long rope for Mallya may not yet have reched the end of the tether, unless substantial action is taken by the authorities, considering the back-up support he has in the system.

The banks had earlier said that he should arrive in India to make the repayments. At present he is dealing with banks by video-conferencing and emailing.
Agency: Ap7am Desk

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