Hiding defaulter Mallya offers to pay Rs 4000 crores

Absconding wilful defaulter Vijay Mallya has offered his creditors to pay Rs 4000 crores. His offer came just one day after the Supreme Court order to sell the properties of Sahara’s Subrata Roy who is jailed for illicit money procurement, violating SEBI laws.

Mallya, in a video conference with banks offered the amount adding that he will repay the amount within September this year . Mallya’s total due is estimated to be Rs 9000 crore to seventeen banks.

His lawyers submitted a copy of the details to the Supreme Court today. The SC has given banks a week to respond to the offer.

Mallya who is active on social media has revealed his intentions to return to the country backing the repayment offer. The Rajya Sabha MP who was declared as a wilful defaulter but has not faced much penal action or criminal enquiries that should follow up wilful defaulters, has declared via twitter that he is a law abiding parliamentarian.

Mallya’s offer for repayment came amidst SC order to SEBI to sell properties of Sahara. The Court has instructed the regulator to sell properties worth Rs 10000 crore to make payment to the debtors.