Mallya offers to repay 100% of ‘public money’

Businessman stressed that extradition issue was a separate matter

Fugitive liquor baron Vijay Mallya yesterday took to social media with an offer to pay back 100 per cent of “public money” to various Indian banks and urged the government to accept his offer, days ahead of a United Kingdom court’s decision on his plea not to extradite him to India.

The 62-year-old former Kingfisher Airlines boss, who has been on bail in the UK on an extradition warrant since his arrest in April last year, is fighting extradition to India on charges of fraud and money laundering allegedly amounting to around Rs90 billion (Dh4.6 billion).

A ruling in the case is expected at Westminster Magistrates’ Court in London on December 10, but the businessman stressed that the extradition issue was a “separate” matter that will take its “own legal course”.

“The most important point is public money and I am offering to pay 100 per cent back. I humbly request the banks and government to take it. If payback refused, why,” he questioned in one of his tweets.

Referring to reports claiming his offer is linked to an expected ruling in the extradition case on December 10, he added: “Usual nonsense! I have made settlement offers since 2016.”

After weeks of silence, Mallya shot off a series of tweets since the early hours of yesterday.

“Airlines struggling financially partly because of high ATF prices. Kingfisher was a fab airline that faced the highest ever crude prices of USD 140/ barrel,” read one of his posts..

“Losses mounted and that’s where banks money went. I have offered to repay 100 per cent of the principal amount to them. Please take it,” the post read.