Vijay Mallya may make Rs 6000 crore settlement offer

| Thursday, April 14, 2016 - 11:35
First Published |
Vijay Mallya

Mumbai: In a fresh update in the Vijay Mallya debt case, the once upon a time ‘king of good times’ may make a revised offer of Rs 6000 crore to the banks for settlement. The banks, however, are looking to recover a total of Rs 9000 crore in dues.

The Enforcement Directorate on Wednesday, had implied that authorities were looking at revoking Vijay Mallya’s passport for continuing to evade court summons – three in all.

(Also Read: Sonia Gandhi attacks PM Modi over Vijay Mallya)

The banks have demanded an immediate payment of Rs 4900 crore as the principal amount followed by the interest being repaid in staggered amounts.

Earlier last week, the Supreme Court (SC) had asked Mallya to disclose all his assets after the banks rejected previous settlement offers by the liquor baron referring to the offers being too little and overladen with conditions.

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