London: 'Request banks to take back all their principal amount' - Vijay Mallya

Daijiworld Media Network - London (MS)

London, Feb 14: After the end of his three-day British High court appeal, liquor baron Vijay Mallya, who owes around Rs 9,000 crore to Indian banks has asked them to take back the principal amount on Thursday, February 13.

Vijay Mallya accused the Enforcement Directorate (ED) and Central Bureau of Investigation (CBI) of treating him unfairly over the alleged Rs 9,000 crore amount he owes to banks.

After his appeal ended, Vijay Mallya said, "It is my humble request to the banks to take 100 percent of your principal back immediately."

"I have not committed any offence under PMLA (Prevention of Money Laundering Act). I do not understand why the ED should suo moto attach my assets? I am asking the banks to take back their money but the ED is saying that they have claim over my assets. So it is basically a fight between the ED and banks."

The two member bench of London court said that they will give their verdict on a later date after considering all the oral and written submissions. There were heated arguments between the lawyer representing Vijay Mallya and the one who is representing government of India in the court room.

The lawyer arguing for government of India said, "Mallya has provided false documents to get the loans and has utilized the money for some other purpose than for which it was given and subsequently refused to give back the money. The jury will definitely consider this as a patently dishonesty."

Mallya was present in the three-day appeal hearing in the court, though it is not required to attend the same, as he is on bail against his extradition warrant.

The London court judge has found clear evidence of dispersal and misapplication of loan funds by Mallya after a lengthy one-year long extradition trail prima facie. However, Mallya secured bail on his extradition warrant in April 2017 on a bond of 650,000 pounds. But there are other restrictions on his travel as he still facing the case.



Comment on this article

  • Sanjeev Kamath, Udupi

    Sat, Feb 15 2020

    And write off the loan interest from depositors' interest?

    DisAgree Agree [2] Reply Report Abuse

  • Edward, mangalore

    Sat, Feb 15 2020

    so who will pay the interest?
    Banks are saying he has the money to pay the interest as well.
    They have submitted the proof too.

    Now this chap is saying, take only principle?

    DisAgree Agree [3] Reply Report Abuse

  • Ahmed K. C., Mangalore

    Sat, Feb 15 2020

    He gave such offer initially when he fled from the country.
    But, our banks are reluctant to accept the offer.
    Take whatever he is giving back and give him time for the balance. Give him some concession.

    DisAgree [3] Agree [18] Reply Report Abuse

  • J.F D SOUZA, Attavar, Mangalore

    Sat, Feb 15 2020

    Our Banks should accept whatever he pays instead of incurring huge loss. Something is better than nothing.

    DisAgree [7] Agree [32] Reply Report Abuse

  • Prerith, Mangalore

    Sat, Feb 15 2020

    who gave him loan without checking his documents.

    DisAgree Agree [34] Reply Report Abuse

  • Prerith, Mangalore

    Sat, Feb 15 2020

    Why can't these people take the principal amount when they are under huge loss. Why do you want to get people in trouble.

    DisAgree [4] Agree [22] Reply Report Abuse

  • Francis Martis, Rahway

    Sat, Feb 15 2020

    If Mallya wants to pay the principal amount to banks now, let the banks take it first and see what can be done to recover the interest or any penalty. This is wise thing to do.

    DisAgree [5] Agree [25] Reply Report Abuse

  • G Veer S, Nagpur

    Fri, Feb 14 2020

    As usual BJP govt lawyer is playing dirty politics in foriegn soil. London court is not bothered or authorized to take decision on Mallaya regarding his taking loan in India and for the purpose it's taken. Why BJP govt is not listening to Mallaya's plea to pay back all dies and subsequent returning back to India. Is it because BJP is scared of Mallya spilling the beans and losing all the money BJP has illegally credited to its account from Mallya???. Escorted him to the airport with security with one way ticket!?!?!?!?!.....

    DisAgree [17] Agree [41] Reply Report Abuse

  • Prerith, Mangalore

    Sat, Feb 15 2020

    Your Congress gave him loan illegally and ate commission from him.

    DisAgree [26] Agree [19] Reply Report Abuse

  • H. Almeida., Bendur/Andheri

    Fri, Feb 14 2020

    This is absolutely horrendous statement. This thief, ruthlessly defrauded our banks, then scouted away to glory, in an alien nation... Today this worm is squirming, after being cornered.... begging our enforcement agencies to take the principal amount, without any remorse... and let him free !!! This rat, must be brought back to India, to face our law's... Compounded interest, with cost of litigation, must be recovered !!!! Further serve time in prision for the grave offenses he has committed against our nation !!!!!

    DisAgree [37] Agree [17] Reply Report Abuse

  • Sahil, Mangaluru

    Fri, Feb 14 2020

    Kanadigas always great at least he offered to pay principal amount but gujjus write off lakhs of crore loans taken from bank. One gentleman told he don't have single penny to pay. But taken our airport for 50 years. Our pride Vijaya bank also taken away.

    DisAgree [6] Agree [61] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Fri, Feb 14 2020

    Come back to India & preach your Nonsense ...

    DisAgree [44] Agree [13] Reply Report Abuse

  • Krishna, Udupi

    Sat, Feb 15 2020

    if he come back to India, he will open mouth about bribe given to mata..........

    DisAgree [7] Agree [19] Reply Report Abuse


Title : London: 'Request banks to take back all their principal amount' - Vijay Mallya


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