TROU­BLED TIMES

Hindustan Times ST (Mumbai) - HT Navi Mumbai Live - - FRONT PAGE -

THE DEBT

`6,903

CR Loans taken by King­fisher Air­lines (KFA) `9,300

CR KFA owes to banks and var­i­ous govt de­part­ments in loans, in­ter­ests and other dues

THE OF­FER

`4,000 Mallya ready to pay back, CR his lawyers told the Supreme Court The of­fer will be a mix of cash and pledged shares of some of Mallya’s com­pa­nies The of­fer was made to a con­sor­tium of 17 banks — led by the State Bank of In­dia (SBI) — that ap­proached the top court last month to re­cover its dues The court gave a week’s time to the banks to re­spond to Mallya’s of­fer

THE RE­JEC­TION

The con­sor­tium of banks re­jected Mallya’s of­fer to pay Rs4,000 crore by Septem­ber to­wards set­tle­ment of his loan

The banks, led by the State Bank of In­dia (SBI), have also de­manded that Mallya be per­son­ally present at the next hear­ing of the case in Supreme Court on April 26

The top court has asked Mallya to dis­close all as­sets owned by him and his fam­ily in In­dia and abroad by April 21

NOT IN IN­DIA

Mallya, 60, left In­dia on March 2 as the cred­i­tor banks closed in on him to re­cover the huge loan amount owed by his now-de­funct King­fisher Air­lines

Mallya is un­der­stood to have left for UK on his diplo­matic pass­port though his ex­act where­abouts are not known

OP­TIONS FOR HIM

Mallya has the op­tion of first ap­peal­ing against the pass­port re­vo­ca­tion if the govt de­cides on it, be­sides look­ing at other le­gal routes.

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