Vijay Mallya Offers To Repay Rs. 4,000 Crore To Banks
March 31, 2016: According to the lawyers of Vijay Mallya, famous as the Liquor Baron has offered to repay loans of Rs. 4000 crore($603 million) by the end of September. The inoperative Kingfisher Airlines are indebted to pay Rs. 9000 crore to a group of banks including State Bank of India.
The banks are being led by State Bank of India. These 17 banks had requested the Supreme Court to help them to recover their money that Mr. Mallya has defaulted. Vijay Mallya had departed the country on March 2 and the banks had demanded his return and asked the court for the same. His actual spot is unknown.
The Supreme Court has ordered the banks to revert on Vijay Mallya’s proposal within a week. The next hearing of the court has been set for April 7, 2016.