Vijay Mallya Raises Settlement Offer To Rs 6,868 Crore

| } April 22 , 2016 , 10:25 IST
vijay-mallyaThe liquor baron Vijay Mallya on Thursday filed an affidavit in the Supreme Court saying that banks have no right to ask about his overseas assets as he was asked by the Supreme Court to disclose the total assets owned by him and his family in India and abroad. Reportedly, Mallya, who is facing legal proceedings for alleged default of loans worth over Rs 9,000 crore from various banks, upped the settlement amount he would pay the banks to Rs 6,868 crore. This amount also includes Rs 1,591 crore that he offered to deposit with the Supreme Court as a bona fide on Thursday. Earlier, Mallya offered to make a payment of Rs 4,400 crore to the banks as a full and final settlement, however, it was rejected after due consideration by the lenders and termed as too little and unsatisfactory. And now he is ready to pay Rs 2000 crore more to the amounr previously offered. Reports also suggest that the amount will be garnered by selling Mallya's shares in various companies. Reports states that Rs 1,591 will be paid by selling Mallya's United Breweries' shares in United Spirits worth Rs 660 crore plus Rs 243 crore will be garnered by selling Kingfisher Finvest's shares in United Spirits; and Rs 688 crore by selling Kingfisher Airlines' shares in Airbus. [fb_pe url="" bottom="30"]

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