London: Vijay Mallya wants to pay bank loan and pending salaries of employees

Wed, Jul 03 2019 09:43:19 AM

Daijiworld Media Network - London

London, Jul 3: Vijay Mallya, whose appeal to the UK high court against his extradition to India was upheld, went a step ahead, tweeted on his account that he wants to repay the loan amount in full to those banks who lent money to Kingfisher Airlines. In addition, he also said that he wants to pay the pending salaries of his employees and creditors with the balance money that remains after paying back the loan of banks.

Mallya's tweet says "Despite the good Court result for me today, I once again repeat my offer to pay back the banks that lent money to Kingfisher Airlines in full. Please take the money. With the balance, I also want to pay employees and other creditors and move on in life."

It may be recalled that on Tuesday, UK high court allowed Vijay Mallya to appeal against his extradition to India giving him a sigh of relief as the earlier verdict given by the Westminister Magistrates' Court last year had upheld his extradition to India.

Despite the good Court result for me today, I once again repeat my offer to pay back the Banks that lent money to Kingfisher Airlines in full. Please take the money. With the balance, I also want to pay employees and other creditors and move on in life.
— Vijay Mallya (@TheVijayMallya) July 2, 2019

Comment on this article

Rita, Germany
Wed, Jul 03 2019
What made him all of a sudden to pay the salarys to employers and all loans?all these years never had a thought of employers.He has I am sure something in mind ,or of loosing something if not paid?Let us wait and see how things develope.first pay back and rest follows.May be he wants something to start in UK and needs loan from Bank?

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Langoolacharya., Belman / Washington, DC.
Wed, Jul 03 2019
Rita,

Government of India prints Currency notes....Mallya prints Calendars....both are powerful entities in India in their own way...

When he says he is paying...you should infer...he is near of loosing the court case and getting deported to India...

I believe Government already confiscated his assets worth more than 9000 crores...pending 3000 he can pay easily...he has assets all over the world...

...Tak...Takk...

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Rehna, Mangalore
Wed, Jul 03 2019
Rita Mallaya had told the bank will pay the principle amount of the loan and not the interest.But the banks had refused to accept.

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AD, Mangalore
Wed, Jul 03 2019
The basic reason people don't like Vijay Mallya is because of his flamboyant lifestyle. Actually people envy him and his extravagant lifestyle of beautiful women, car racing, horseracing, wines and spirits.
Politicians are milking this fact to their advantage after using him all along. Other business men are quiet lest they be tagged. The sports and arts members who benefitted from his sponsorship are silent.These silent majority with holier than thou attitudeare the crooked ones.
Vijay Mallya has failed business man in KFA only. He is just a promoter of the business, other stakeholders like lenders, regulators , board, employees are all responsible for the mess at KFA. Air India is a bigger culprit and is kept alive through tax payers money and nobody is bothered while everyone is baying for Mallya blood.
KFA should be referred to NCLT and employees and suppliers should be paid first. Banks can take haircut and shareholders inclusing Mallya loose their money in the company.

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Dinesh, Mangalore
Wed, Jul 03 2019
Dear Mallya,
To fool indian people give same statement s once in six months so people of India is happy and your party BJP leaders also happy. Enjoy your days but don’t forget to repeat statements.
86
Jai Mallya... Jai Modi, Jai Hind

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Rolf, Dubai
Wed, Jul 03 2019
well said .
jai Sri Ram. jai Beem. Jai Suleiman.

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mohammed, mangalore
Wed, Jul 03 2019
Mr Mallya was also forced to resign as chairman of United Spirits, India's biggest distiller, after its new owner Diageo accused him of financial wrongdoing.
Diageo is now suing the tycoon to recover payments worth $181m.

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Dani, Udupi
Wed, Jul 03 2019
If u see the actual picture mallya is not a defaulter. The loans were lent to KFA with something at stake and looking at the worthyness of his company. The assets staked by KFA for the loan have lost value after the company become defunct but that doesnt make mallya at fault. As per market standards and then value of assets the amount was given to the company. If it has lost is value in present day is not mallyas fault. Mallya is the owner of the defunct airline hence he is being held responsible. He hadnt taken a personal loan. It was a business loan for functioning ofthe company. If the company is bankrupt how is the company liable to pay back? The way the government and banks are blaming him its not right cz inspite of the company shutting down he is ready to pay the amount from his pockets or fortune from other business. If he is agreeing to do that then he is a genuine man . If he didnt have any other business and only KFA was running and got shut down then how would the bank recover the amount? If he dint have any other means to payback what would the bank do? They would have to depend on the pledged assets to recover as much as possible. Hs is offerring to pay the amount taken back to the banks then why the hassle for the interest? If the banks are so greedy about their interest then that money will never come back and they will have to depend on the loss of value assets to recover. The government and banks are after him cz they know he can pay with interest hence they are trying their luck but as genuine businessman he is ready to pay the priniciple .
Well and he had to escape the country because he wouldnt be able to prove anything here cz everything would be conspired against him. Even after freezing his personal assets worth 12k Cr. They want him extradicated for what reason when they got more than the principle amount back out of which not even half would cme back..they should keep what tgey get and close the case.

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Edward, mangalore
Wed, Jul 03 2019
have you heard of the economic offenders law and the new fugitive law?
hes charged under that...

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Shankar, Mangaluru
Wed, Jul 03 2019
We can never let down Shri Vijay Malya.
When we only had bitter Haywards and knock outs, It was Malya who came with divine Kingfisher premium in that beautiful light green bottle! We owe to him.

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mohammed, mangalore
Wed, Jul 03 2019
He gave you for free? Then you can give your money to him.
Here we are taking about the public sector banks money, which belongs to India.

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Shamsher, Mangalore
Wed, Jul 03 2019
So we assume model girls reappear in calendar 2020.

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mahesh, mangalore
Wed, Jul 03 2019
so now that your extradition is nearly confirmed, you are offering money?
why didn't you do the same before fleeing the country, if you had the money ???
There has been a new law for economic offenders, if you do not know.
These 'public tweet' strategy will not work anymore.

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Jossey Saldanha, Mumbai
Wed, Jul 03 2019
Let him settle everything

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Gangaram, Moodbidri
Wed, Jul 03 2019
You just start paying to employees and if remains pay to banks...

banks can wait but not employees as they need to feed their families...

Sure we feel you are a gentleman from Mangalore. unlike chor Modi's and choksi's

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Shankar, Mangaluru
Wed, Jul 03 2019
let the government unfreez the KFA account. There is enough money for the salaries...that is what Malya claims.

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mohammed, mangalore
Wed, Jul 03 2019
No, there is no money in that.

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Shankar, Mangaluru
Wed, Jul 03 2019
Are the courts out of senses to freeze an account with no money???

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Satya, Mangalore
Wed, Jul 03 2019
I cannot understand the government's stubbornness in this matter. Mallya is a businessman whose airlines business went bust. Two reasons for Kingfisher going bankrupt are the adverse aviation policies of the government and mismanagement at the airlines. However unlike Choksi and Nirav Modi, he is not a crook. If he is willing to pay back what he owes the banks and also the salaries of his employees, why is the government insisting on his extradition? What purpose will it serve? If he has committed any financial irregularities, why not fine him additionally and get along with life? Nirav Modi and Chokis are crooks and swindlers and that is plain and simple and their entire modus operandi was to steal from the banks and run away. Mallya is not the same. He is only a failed businessman who is willing to make amends.

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Peacelover, India
Wed, Jul 03 2019
Well said!
The government is not keen in bringing back the Gujarati crooks!
The BJP government had amended the FCRA to make it easier for parties to accept foreign funds. Now, it has amended it further to do away with the scope for scrutiny of a political parties’ funding .
IS THERE ANY CONNECTION ?

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Edward, mangalore
Wed, Jul 03 2019
problem is, he cannot use twitter as a platform for telling solutions.
He has been given multiple opportunities to give explanations.
He never used it.
Now he is talking ????
doesnt work like that.

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Dr.S.Kamath, Mumbai
Wed, Jul 03 2019
I agree with you
Not because he is a Mangalorean
Look at the way BSNL ,MTNL made losses purely due to bad management and adverse market conditions Govt has proposed Rs 74,000 Crore Bail Out Package
Whereas Mallya just owes some Rs 9000 Crores to Banks that too he was ready to pay under a settlement .But govt making criminal charges
One thing I like in England is they follow Christian Faith based laws which gives some liberty Loans not paid people .Mallya was ready to pay his dues

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mohammed, mangalore
Wed, Jul 03 2019
Look at his statements earlier.
He never offered to pay.
Now when he knows he will be dragged to india, hes talking about payment.

you dont post on twitter these things.
Tell the court in writing that you are ready to pay.
He didnt do that.

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Evans C. Sumitra, Udupi/ New York, USA.
Wed, Jul 03 2019
Satya, Mangalore, I fully agree with your sensible comments which I hope some people will understand. If Vijay Mallya keeps good by his words, it is good for the banks and above all to all the employees who are going through a hectic time. Also he will come out clean.

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rakesh dsouza, mangalore
Wed, Jul 03 2019
He offered this before also because of politics involvement banks not taking it.
in logonka kya jata hey yar . paisa dega matlab kon ready nahi hotha le ne keliye?
modi politics here. may be modi want to take credit if they succeed him to bring malya back.

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Flavian, Mangaluru/Kuwait
Wed, Jul 03 2019
correction
Let him pay(not me)

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abdulla, india
Wed, Jul 03 2019
Vijay Mallya Of course is Stylish..Flamboyant.businessman.
but surely not a crook Like Naresh Goel.. Praful patel..and Sharad pawarw..Thackerys and List of saintly policos we can name them one by one . etc.
Mistake of Mallya was he has Ego.he should have sold King fisher air line sand settled the Banks dues ..and be clear.
Mallya: is abusiness man and has enough money tosettle his Dues.
do not know why he is not allowed to

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mahesh, mangalore
Wed, Jul 03 2019
you seem to know so much about all these businessmen.
what is your opinion on mansoor khan?

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Flavian, Mangaluru/Kuwait
Wed, Jul 03 2019
@ Shankar
"Malya was, is and always will be a gentleman."

We may agree to you logical explanation but his ways of evading the country with all prior preparations and hoodwink the courts for so many years sometime do not h to a gentleman image. Any ways let me settle whatever possible and importantly the pending salaries of ex-employees.
After all:
something is better than nothing.
Better late than never.

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Shankar, Mangaluru
Wed, Jul 03 2019
He knows India is the only country which will hold an individual responsible for a public limited company!
If KFA was doing good, all the shareholders would have been feasting on the dividends. When it failed, only Malya has to take the blame!!!

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mahesh, mangalore
Wed, Jul 03 2019
sir, do you what the law for 'economic offenders' states?
please do it read it again.

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AM, Mangalore
Wed, Jul 03 2019
Mallya should be allowed to pay back the loan and specially employees salaries. Government may think any other legal action against him. If he returns the loan it will be a great relief to the already cash crunch banks which continuously charging unwanted service charges to the public. Also many of the employees still not have any job and getting salary it is a God gift for them.

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mohammed, mangalore
Wed, Jul 03 2019
1. Fugitive Economic Offenders Act.
2.Special Prevention of Money Laundering Act Court

these are two acts ,under which he has been charged.
please read more about this before commenting any further.

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Santhosh Kulal, Mangaluru
Wed, Jul 03 2019
He has been saying this from the day he left India that he wants to pay the loan he borrowed from the banks. In fact he had given the same offer to banks while he was in India too. But the banks are adamant that he should pay the interest too. He has always maintained that he's ready to pay the principle amount. Why Banks aren't agreeing for this offer? Isn't it better than getting nothing? When he is ready to pay what he borrowed, why not accept it rather than getting nothing at all? Had they accepted this, he would have cleared that amount 4 years ago. Whose loss is this now? Do they think it's that easy to bring him back from UK? UK has almost the same legal system like that of us in India. It's lengthy and too lethargic. So with this attitude they are set to lose more than gain anything.

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Kumar, Kinnigoli
Wed, Jul 03 2019
THIS TIME IN IPL.. MALLYA BET AGAINST ROYAL CHALLENGERS. ... AND MADE GOOD MONEY....

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marie, india
Wed, Jul 03 2019
Good thinking before all curses fall on you and your family from employees who you have not paid their salaries for months and years. Better late than never. God bless you for your good thinking.

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Jossey Saldanha, Mumbai
Wed, Jul 03 2019
We want to know whom did he pay Rs. 35 Crores to get out of the Country ...

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Sanjay, Hebri
Wed, Jul 03 2019
Good, this is a positive sign....govt should allow him to discharge the dues. But he should come back to India and a time frame should be set up and any deveation from plan, he should be arrested.

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Flavian, Mangaluru/Kuwait
Wed, Jul 03 2019
Mallya agreed to repay the loan Principle amount but no mention of default interest for so many years.
Also staff salaries must be settled with due interest on the sums. He has enough funds/fortune/means but only playing his ways to benefit him to the maximum.

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Shankar, Mangaluru
Wed, Jul 03 2019
Flavian Sir,
Malya was, is and always will be a gentleman.
First of all, Malya has not defaulted the loan payments. Kingfisher airlines was the company which took the loan. Banks would have given the loans with assessing the worth of the company and also they would have covered the loan with insurance. Why the banks are crying now if they have not done their duty?
Further, Malya offered to repay the loan amount which the banks declined. Isn't it logical to get the principle amount back from a defunct company rather than waiting for years for the interest to pile up?
Moreover, KFA's seized bank account had enough money to pay the pending salaries of the employees. But the our foolish courts ordered to freeze the account so that the employees were not paid. Malya is a businessman, there wasn't any point in paying the KFA staff from his other business ventures.
Now, it will be very unreasonable from the staff's part to claim interest for the pending salaries.

There has been an old saying, ' baggunaayegu onji guddu jaasthige' !

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Shamsher, Mangalore
Wed, Jul 03 2019
Only modiji can bring back culprits who ran with money.

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suresh shetty, mangalore
Wed, Jul 03 2019
what a brave choor man so many employees may be died by sucide , so many creditors and investors must have died by sucide still you say that i am ready to pay the dues .to employees and creditors .and banks .banks will not die because is public money. what about others .shame on your richness.those who have faced the problems they may know they fooled by rich man.

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RkR, Mangalore/ Dubai
Wed, Jul 03 2019
Happens when your friends avoid you,, and good for nothing
Frozen bank accounts and assets- a billionaire in papers.
You’ve have lost all of it.
Only thing we have to offer is a stay in Jail, wherein you don’t have to pay anything.

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Nithin Poojary, Mangalore
Wed, Jul 03 2019
Bhakts who are giving credit to chaiwala, should know the actual reason why Mallya is ready to pay his dues.....

Mallya cannot step out of his house....Wherever he goes people call him thief....Indians are settled all over the world. Mallya cannot escape. Mallya because of humiliation has agreed to pay the dues. not because of Chaiwala....

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SP Shetty, Dubai/Kateel
Wed, Jul 03 2019
As if he cares what people say about him. LOL

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Nithin Poojary, Mangalore
Wed, Jul 03 2019
Freedom is very precious.....You will only come to know when you are at the receiving end.

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Mohammed, Mangaluru
Wed, Jul 03 2019
Mallya wants to pay money but chaiwala and co. dont want to take and drag this issue till next voting..

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Kiran Dsouza, Mangalorr
Wed, Jul 03 2019
You keep on saying this & fooling everyone. Better you clear the dues & then talk.
Because of you people we have been made to pay fees or fines for each & every services including maintaining minimum balance.
Please raid the politicians & officers who recomended loans to his company & repay it to the banks.

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Vincy, Bangkok
Wed, Jul 03 2019
This is the game plan. The government is interested only bring him back and give a media trial. He is ready to pay back all his loan. This point must have convinced the Magistrate to hear his case again.

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SP Shetty, Dubai/Kateel
Wed, Jul 03 2019
That's the Power of Chaiwala & his Govt.

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SAMAD, Mangalore
Wed, Jul 03 2019
The money he took and ran away it is tripled now..Now now no use of praising chaiwala..but atleast India tax payers are getting their money back.

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Shamsher, Mangalore
Wed, Jul 03 2019
Samad...how tripled...due to people in india...who still consuming regularly kingfisher beer and product of UB brewaries. While sitting in london he able to fill his coffer without much trouble.

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Shilpa, Mangalore
Wed, Jul 03 2019
Mallaya had offered to pay the principle money earlier too but the banks refused as they wanted interest as well Now also he is paying the principle..... so nothing new. Chaiwala has not done any magic. Mallya was a genuine person. Not like these politician who loot the coutry. Mallya had incurred loss in Kingfisher.

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Indian, Udupi
Wed, Jul 03 2019
Very true...

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AnoNymouS, Mangalore
Wed, Jul 03 2019
He incurred loss because of his mismanagement. Take back the principle amount and the pending salaries and let him be. People of India are blood thirsty. Nothing will satisfy them unless peoples heads are mounted on a spike like GOT. He cannot live with that money because he will be prosecuted in UK eventually under the UK unexplained wealth order

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Rita, Germany

Langoolacharya., Belman / Washington, DC.

Rehna, Mangalore

AD, Mangalore

Dinesh, Mangalore

Rolf, Dubai

mohammed, mangalore

Dani, Udupi

Edward, mangalore

Shankar, Mangaluru

mohammed, mangalore

Shamsher, Mangalore

mahesh, mangalore

Jossey Saldanha, Mumbai

Gangaram, Moodbidri

Shankar, Mangaluru

mohammed, mangalore

Shankar, Mangaluru

Satya, Mangalore

Peacelover, India

Edward, mangalore

Dr.S.Kamath, Mumbai

mohammed, mangalore

Evans C. Sumitra, Udupi/ New York, USA.

rakesh dsouza, mangalore

Flavian, Mangaluru/Kuwait

abdulla, india

mahesh, mangalore

Flavian, Mangaluru/Kuwait

Shankar, Mangaluru

mahesh, mangalore

AM, Mangalore

mohammed, mangalore

Santhosh Kulal, Mangaluru

Kumar, Kinnigoli

marie, india

Jossey Saldanha, Mumbai

Sanjay, Hebri

Flavian, Mangaluru/Kuwait

Shankar, Mangaluru

Shamsher, Mangalore

suresh shetty, mangalore

RkR, Mangalore/ Dubai

Nithin Poojary, Mangalore

SP Shetty, Dubai/Kateel

Nithin Poojary, Mangalore

Mohammed, Mangaluru

Kiran Dsouza, Mangalorr

Vincy, Bangkok

SP Shetty, Dubai/Kateel

SAMAD, Mangalore

Shamsher, Mangalore

Shilpa, Mangalore

Indian, Udupi

AnoNymouS, Mangalore

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Title: London: Vijay Mallya wants to pay bank loan and pending salaries of employees

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