Banks Rejected Mallya's Rs 4,000 Crore Loan Repayment Offer: Report
April 7, 2016: According to a report, the banks have rejected Vijay Mallya's’ offer to repay Rs. 4,000 crore. A group of lenders, led by State Bank of India has told the Supreme Court about this decision in the morning.
The defunct Kingfisher Airlines is liable to repay Rs. 9,091 crore loan amount to the banks. The banks have told the court clearly that the presence of Mr. Mallya is mandatory for the discussion of negotiation.
The court has ordered Mr. Mallya to tell clearly when he will be present in the court and how much amount he can deposit to prove his repayment intentions. Last month, he left the country and flew to London and denied to present for the interrogation. The next hearing of court is set to be on April 26, 2016.