Banks may Re­ject Mallya’s 4kcr Loan Of­fer

The Economic Times - - Companies -

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


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