Vijay Mallya offers to repay 100% principal to banks: Liquor baron should stop his antics and engage…

Vijay Mallya has tweeted again, making the offer to repay the principal to the lenders of Kingfisher Airlines. Is Mallya serious or are these just familiar shenanigans in view of impending judgement in respect of his extradition a few days hence?

First thing first. Twitter is not the medium to settle dues as high as Rs 9,000 crore, with the entities who lent the moolah to Mallya when he was in dire need. If Mallya is serious, he should engage with the lenders directly. To use Don Vito Corleone’s words, Mallya should “make an offer which they [lenders] cannot refuse”. Mallya knows very well he is in deep muck. Most likely, the liquor baron has the resources, hidden all across the globe, as per the press reports. He should come up with a workable proposition.

Merely stating that he is willing to pay the principal does not cut any ice with people who put

... read more at: https://www.firstpost.com/business/vijay-mallya-offers-to-repay-100-principal-to-banks-liquor-baron-should-stop-his-antics-and-engage-directly-with-lenders-5684971.html

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