Vijay Mallya submits 4000 Crore repayment plan to Supreme court

Vijay Mallya submits 4000 Crore repayment plan to Supreme court

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Vijay Mallya, Liquor baron and owner of Kingfisher Airlines kept debts of 9000 Crores and he absconded to London. This issue created ripples and Union Minister Arun Jaitley said that everything till the last penny will be collected from him.

However due to media, Vijay Mallya responded that he never fled India and he promised to pay all the debts. Now Vijay Mallya has offered to pay 2000 Crores to settle all claims. But Banks turned down the offer as the amount was too low. Two senior bankers who were a part of the 17-bank consortium said that Vijay Mallya has approached them with this settlement offer.

One of them told media that they cannot accept such a small amount. Meanwhile CNBC-TV18 reports said Vijay Mallya has submitted a Rs 4,000-crore repayment plan to the Supreme Court.

The plan includes payment of amount by September 2016. Recently the lenders put the company's trademarks and brands on an auction to recover his dues at a cost of Rs.6963 Crores. His trademarks or brands includes Fly Kingfisher, Flying Models, Funliner, Fly the Good Times, Kingfisher and Flying Bird Device.


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