February 19, 2020 | 2:36 PM IST
vijay mallya

Vijay Mallya asks Indian banks to take back their 100% dues

Former Kingfisher Airlines owner Vijay Mallya, who allegedly owes Rs 9,000 crore to Indian banks, on Thursday has asked the banks to take back 100% of the principal amount owed to them. The liquor baron has also challenged his extradition in a London Court at the end of his three-day British High Court appeal. Presently, Mallya is out on bail on an extradition warrant since April 2017 which involves a bond of 650,000 pounds in addition to other restrictions on his travel.
It may be noted that Mallya is wanted in India by the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) that have charged him with fraud and money laundering.
While interacting with media outside the Royal Courts of Justice in London, he said, “I request the banks with folded hands, take 100% of your principal back, immediately. The ED attached the assets on the complaint by the banks that I was not paying them. I have not committed any offenses under the PMLA (Prevention of Money Laundering Act) that the ED should suo moto attach my assets.
The 64-year-old added vehemently, “I am saying, please, banks, take your money. The ED is saying no, we have a claim over these assets. So, the ED on the one side and the banks on the other are fighting over the same assets.
The two-member bench comprising Lord Justice Stephen Irwin and Justice Elisabeth Laing was hearing the appeal and will hand down their verdict at a later date after considering the submissions over the next few weeks.

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