Friday, October 23, 2020

Fugitive businessman Vijay Mallya offers India 100% repayment in loan fraud case

-

Fugitive Indian businessman Vijay Mallya again urged the central government on Thursday to unconditionally accept his offer of bank loan repayment and close the case against him.

In a tweet, the embattled liquor baron alleged that his offer of 100 per cent payback to a consortium of public sector banks is being constantly ignored.

“Congratulations to the government for a Covid-19 relief package. They can print as much currency as they want BUT should a small contributor like me who offers 100 per cent payback of state-owned bank loans be constantly ignored? Please take my money unconditionally and close,” Mallya tweeted.

- Advertisement -

Mallya is in the midst of a legal battle in the UK, with the Indian government trying to get him extradited to India to face enforcement authorities in connection with a Rs 9,000-crore bank fraud and money laundering case involving his now-defunct Kingfisher Airlines.

The latest offer from him comes 10 days after he filed an application in the UK Supreme Court to prevent implementation of an earlier order that made his return to India imminent.

In the past also, Mallya had tweeted that he had offered to pay in full the money borrowed by Kingfisher Airlines to the banks concerned but neither the banks were willing to take the money nor the Enforcement Directorate was willing to release his attached assets.

The ED has attached many properties of Mallya in the last few years under the Prevention of Money Laundering Act.

- Advertisement -

Mallya is being investigated by the CBI and the Enforcement Directorate in connection with the loan fraud case.

He was arrested by the UK authorities on April 20, 2017, on the request of the Indian investigative agencies.

MUST READ

Goldman Sachs agrees $3 billion settlement with US DoJ over 1MDB corruption scandal

Goldman Sachs has agreed to pay nearly $3bn (£2.3bn) in the US to end a probe of its role in Malaysia's 1MDB corruption scandal. The...

Hong Kong fines Goldman Sachs $350 million over 1MDB scandal

Goldman Sachs ignored multiple red flags over the multibillion-dollar fundraisings it arranged for state fund 1Malaysia Development Berhad, Hong Kong’s financial regulator said on...

Texas attorney general Ken Paxton fires top aide who accused him of bribery

Lacey Mase, one of the top aides who accused Texas Attorney General Ken Paxton of crimes including bribery and abuse of office, has been fired, she told The...

Fundraiser Elliott Broidy pleads guilty in foreign agent case linked to 1MDB

Major Republican Party and Trump fundraiser Elliott Broidy pleaded guilty Tuesday to acting as an unregistered foreign agent, admitting to accepting millions...

Germany issues international arrest warrant for founders of law firm at the centre of Panama Papers

Germany has issued international arrest warrants for the two founders of the firm at the centre of the tax haven scandal exposed by the...
Advertisement
Advertisement

Latest News

This Week

Germany issues international arrest warrant for founders of law firm at the centre of Panama Papers

Germany has issued international arrest warrants for the two founders of the firm at the centre of the tax haven scandal exposed by the...

Mexico’s ex-army chief arrested in US on charges of drug trafficking, money laundering

Former Mexican Defense Secretary Gen. Salvador Cienfuegos, who led the country’s armed forces for six years under then-President Enrique Peña Nieto, has been arrested...

Wells Fargo fires more than 100 workers over abuse of COVID-19 relief funds

Wells Fargo & Co has fired about 100 to 125 employees for unethically availing themselves of coronavirus relief funds, according to a source familiar...

US financial watchdog fines bitcoin mixer operator $60m for money laundering

The founder and operator of some of the first "mixing" services in crypto will have to cough up $60 million to United States regulators,...
Advertisement

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks