London: Vijay Mallya has again took to social media to announce his offer to pay back 100% of the money he owes to Indian banks fearing extradition to India.
Lately, the liquor baron is jittery about a looming extradition to India to face legal charges against him. He had tweeted several times that he is ready to pay back the loan amount he took from state-owned banks in India. However, the banks are not buying the tycoon’s bluff and has not accepted his ‘offer’.
Vijay Mallya also referred to the recent sinking of Jet Airways and said that those were genuine business failures just like how his Kingfisher Airlines failed.
Vijay Mallya had fled from India after he was charged with fraud and money laundering to the tune of Rs. 9000 crores. He is currently on bail on an extradition warrant by Scotland Yard in April, 2017.
Mallya is undergoing a UK High Court appeals process against his extradition order.
The Chief Magistrate of Westminster Court had favoured his extradition and said that the prosecutor representing Indian authorities had presented a prima facie case of fraud and a conspiracy to launder money.
After the liquor baron fled the country, the Enforcement Directorate (ED) has attached his assets worth crore of rupees. In June, 2016, ED attached Rs. 1,411 crore. On 3 September, the agency attached another Rs. 6,630 crore worth of his assets. By December, 2016, the ED attached a total of Rs. 9,661 crore worth of assets, which makes it the biggest attachment by ED in a Prevention of Money Laundering Act case till date.
He is also facing legal cases in the United Kingdom.