Banks may Reject Mallya’s 4kcr Loan Offer
A group of Indian lenders is set to reject businessman Vijay Mallya’s offer to repay .₹ 4,000 crore ($600 million), less than half of what his defunct Kingfisher Airlines owes them, sources with knowledge of the matter said.
The lenders, led by SBI, are due to inform the Supreme Court of their decision on the offer at a hearing on Thursday.
A senior SBI executive overseeing its stressed-assets management unit declined comment when asked about the banks’ decision. A spokesman for Mallya’s UB Group also said he would not comment. — Reuters