Right after his first comprehensive public statement in two years expressing willingness to repay the bank loans, Vijay Mallya has rejected allegations that he came forward with the settlement offer out of fear of extradition.

“Some people have been asking why I chose to make a statement at this time. I have made my statement because UBHL [United Breweries Holdings Ltd] and myself have filed an application before the Hon’ble Karnataka High Court on June 22, 2018,” Vijay Mallya told India Today TV in a written statement.

“We are setting out available assets of approximately Rs 13,900 crore. We have requested the court’s permission to allow us to sell these assets under judicial supervision and repay creditors, including the public sector banks such amounts as may be directed and determined by the court,” Mallya said.


According to this application, Mallya has also “expressed his willingness to sell six other entities which are currently not liable to [the] creditors”. He has submitted a four-page affidavit before Karnataka High Court in support of the settlement offer made by the erstwhile director of UBHL Manmohan Singh Kapoor.

Repeating his earlier charge against investing agencies Enforcement Directorate and Central Bureau of Investigation, Mallya told India Today TV, “If the criminal agencies such as ED or CBI object to my proposal, and object to the sale of assets, it will clearly demonstrate that there is an agenda against me — the poster boy beyond recovery of dues to public sector banks”.

Government sources earlier didn’t seem too excited by the offer made by the liquor baron as it seemed “to be an attempt to shift focus while the extradition process is in the last stage”. Sources, however, pointed out that he has made similar offers before too.

In a statement to india today Mallya said that “I respectfully say that I have made and continue to make every effort, in good faith to settle with the public sector banks. If politically motivated extraneous factors interfere, there is nothing that I can do,”


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