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legal | IST

CNBC-TV18 Exclusive: Vijay Mallya reveals why he decided to break his silence after 2 years

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Liquor baron Vijay Mallya is seeking justice. He wrote a letter (a massive one) to the PM and Finance Minister in which he sought “patience and understanding" after facing "severe predicaments". He has appealed to the PM for a “good sense of justice". Now that's some good humour!

Liquor baron Vijay Mallya, who made public in a statement on Tuesday a letter he wrote to Prime Minister Narendra Modi and is being pursued by Indian officials over unpaid dues to his defunct Kingfisher Airlines, said he decided to break his silence after two years because he wanted to pay up and settle with banks.
In an exclusive interview with CNBC-TV18, Mallya said he made his statement because he and United Breweries Holdings Ltd (UBHL) filed an application before the Karnataka High Court on June 22, 2018, seeking permission to sell assets worth nearly Rs 13,900 crore and repay creditors. “We have requested the courts' permission to allow us to sell these assets under judicial supervision and repay creditors ... if the criminal agencies such as ED (Enforcement Directorate) or CBI (Central Bureau of Investigation) object to my proposal, and object to the sale of assets, it will clearly demonstrate that there is an agenda against me, “the Poster Boy” beyond recovery of dues to public sector banks," he said.
"I respectfully say that I have made and continue to make every effort, in good faith to settle with the public sector banks. If politically motivated extraneous factors interfere, there is nothing that I can do," he said.
India is seeking Mallya’s extradition over loans to him tied to Kingfisher Airlines after the businessman, co-owner of the Force India team, moved to Britain in March last year.
In the letter to the prime minister, the businessman, who owes Rs 9,000 crore to a group of public sector banks, sought “patience and understanding of the severe predicaments that I am currently facing” and offered to settle with the lenders.
In a media statement from the UK, Mallya said, “I wrote letters to both the Prime Minister and the Finance Minister on 15th April 2016 and am making these letters public to put things in the right perspective. No response was received from either of them.”
Mallya, 62, is fighting several lawsuits in the UK and India over fraud and money-laundering allegations. He has denied the charges.
Kingfisher was grounded in October 2012.