Vijay Mallya offers truce, says he is ready to pay Rs 4,000 crore to banks

[V.Balasubramani]

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[h=1]Vijay Mallya offers truce, says he is ready to pay Rs 4,000 crore to banks[/h]

NEW DELHI: Vijay Mallya has offered a Rs 4,000 crore settlement to banks that are seeking more than Rs 9,000 crore in dues that stem from loans made to Kingfisher Airlines, the carrier that he founded.

The 17-lender group led by State Bank of India will consider the offer before the next hearing on April 7. Mallya, currently in the UK, has been declared a wilful defaulter by lenders for failing to repay loans.

Mallya's lawyer CS Vaidyanathan argued that his presence wasn't required. He refused to give more details of the settlement saying that it would surcharge the atmosphere and harm public interest. Kingfisher AirlinesBSE 3.03 % stopped flying in 2012.



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[GANESH65]

May good sense prevail . Perhaps the ordeal of Sahara Chairman, Subroto Roy must be hounding him!!

 

[vgane]

Why single out only Vijay Mallya.RBI has given the list of defaulters who have failed to repay loans over Rs 500 crore to SC yesterday! Let us see what action awaits these defaulters!

 

[GANESH65]

Why single out only Vijay Mallya.RBI has given the list of defaulters who have failed to repay loans over Rs 500 crore to SC yesterday! Let us see what action awaits these defaulters!

I am sure, the list will have names of leading tamil nadu politicians in it!!

 

[asadu]

All the loans were doled out during congress regime. Most of the ghost loans were siphoned off by politicians as per RBI data. NDA is atleast trying to bring back the money. many loans pending for more than 25 years. barking at Vijay mallya is like barking at sun. Atleast he is willing to settle. others are nowhere near. We should appreciate the present government for taking bold steps to flush out the NPA out of the secret books of PSBs. Also the govt. should institute an enquiry as to why such a successful airline was grounded. It was purposely done by some vested interests. Without getting full details of KFA we can not pass any judgement on present govt or vijay mallya.

 

[V.Balasubramani]

Shower abuse on me but not on my son: Vijay Mallya


My son Sid does not deserve all this hatred and abuse. He has had nothing to do with my business. Shower abuse on me if you must but not him. Slam me if you must but not a young man," Mallya said in a series of tweets.


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[V.Balasubramani]

Do not trust Vijay Mallya: 6 reasons why banks should chuck his Rs 4,000 cr offer

The much-hyped Kingfisher-Vijay Mallya saga seems to be entering the final leg. The hard bargaining is on with the liquor baron offering to pay up Rs 4,000 crore by September 2016 in his proposal at the Supreme Court on Wednesday.

The SC has asked the banks to respond to the proposal within a week after banks study the proposal. Mallya presented the proposal in SC after banks moved the apex court seeking action against him in the Kingfisher loan default case, which also includes charges on fund diversion by Mallya and financial irregularities.

Read more at: http://www.firstpost.com/business/d...hould-chuck-his-rs-4000-cr-offer-2703188.html

 

[yesmohan]

What Vijay Mallayya offers is OTS Rs 4000 crores(one time settlement for the loan); balance is to be written off.

 

[yesmohan]

Why single out only Vijay Mallya.RBI has given the list of defaulters who have failed to repay loans over Rs 500 crore to SC yesterday! Let us see what action awaits these defaulters!

Media gives much importance and focus to Vijay Mallyai only.

One could find the list of defaulters of a particular Bank in the annexures to the annual Balance Sheet of that Bank.
It is transparent.
Moreover, all Banks submit a Quarterly Return to RBI in which the names of high value NPAs find a place.
RBI consolidates it, make a follows up and shares the information with Ministry of Finance, GOI.

Any individual citizen of India, could seek information from from RBI under RTI.