Vijay Mallya, 62, has been fighting India's attempts to bring him back to face trial. (File)
Fugitive businessman Vijay Mallya, who is being investigated for fraud and money-laundering, said today that he offered to pay back the full amount of the principal loan he owed various banks.
In a series of tweets, the businessman said, "Airlines struggling financially partly becoz of high ATF prices. Kingfisher was a fab airline that faced the highest ever crude prices of $ 140/barrel. Losses mounted and that's where Banks money went . I have offered to repay 100 % of the Principal amount to them. Please take it (sic)."
Vijay Mallya, his now-defunct Kingfisher Airlines and others availed loans from various banks. The outstanding amount, including interest, is Rs. 9,990.07 crore, officials had said while filing the plea under the new law.
Politicians and Media are constantly talking loudly about my being a defaulter who has run away with PSU Bank money. All this is false. Why don't I get fair treatment and the same loud noise about my comprehensive settlement offer before the Karnataka High Court. Sad.
— Vijay Mallya (@TheVijayMallya) December 5, 2018
In the UK for the past two years, Mallya, 62, has been fighting India's attempts to bring him back to face trial.
He remains on bail on an extradition warrant executed by the Scotland Yard last year on fraud and money laundering charges. A ruling at the end of his extradition trial is expected at Westminster Magistrates' Court in London later this month.