INSUBCONTINENT EXCLUSIVE:
The 62-year-old liquor baron, who fled India on March 2, 2016, has been living in LondonBengaluru: Claiming that he had honestly tried to
repay bank loans since 2016, beleaguered tycoon Vijay Mallya on Wednesday denied his offer to settle the dues was linked to the Fugitive
Economic Offenders Ordinance
"It is incorrect that my settlement offer before the Karnataka HC was motivated by the latest chargesheet under the media reported Fugitive
I always had honest intentions to settle and there is ample proof," tweeted Mallya, a day after he broke silence on defaulting bank
attach and confiscate the proceeds of crime and properties of economic offenders like bank defaulters or bank fraudsters fleeing the
country, and is aimed at deterring economic offenders from evading the process of law by remaining outside the jurisdiction of Indian
courts, a probe agency official told IANS here.The 62-year-old liquor baron, who fled the country on March 2, 2016, has been living in
London since then despite summons from Indian courts and law enforcement agencies to appear before them for trial in various related
When I have placed assets on the table before the Karnataka High Court in excess of the bank claims, how can I be an economic offender The
fugitive part falls away," said Mallya in another tweet.Referring to some people asking him why he chose to make a statement at this time,
he said he did so because he and his United Breweries Holding Ltd (UBHL) have filed an application before the high court on June 22, selling
out assets worth Rs 13,900 crore."I made my media statement concurrent with my settlement offer now and was unable to make such an offer
before due to various circumstantial changes about the value of my assets available," he tweeted.: Vijay Mallya's Woes Worsen As ED Seeks To
Confiscate Assets Worth Rs
12,500 CroreHe stressed the chargesheets of the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) allege criminality
with no intention to repay banks although he had been making efforts to settle since 2016."As I have placed everything before the high
court, where is the malafide Are banks interested in repayment" he asked.Admitting that the government, courts and banks were rightfully
concerned about public money loaned to his now defunct Kingfisher Airline by the state-run banks, Mallya said he showed to the high court
Indian Banks By UK Court"The government wants to recover money loaned by the state-run banks
It used CBI and ED to attach and recover
I have placed all assets before the high court and submitted for sale
Banks should be very happy
But if the same CBI and ED object, what do I do" he asked.Regretting that the official narrative seemed to question his intentions, Mallya
also denied delaying tactics or any agenda to score brownie points."What needs to be appreciated is a bona fide offer and commitment placed
Let Justice play its part," he pointed out.Responding to the comment of Minister of State for External Affairs M
Akbar that he had years to repay the loans, Mallya said his settlement initiatives date back to 2016.
