Vijay Mallya is now ready to pay Rs 13,960 crore to the banks under the settlement

New delhi date. 17 July 2020, Friday

Fugitive liquor tycoon Vijay Mallya is now ready to pay Rs 13,960 crore to banks under the settlement. Mallya's lawyer told the apex court that he had approached the consortium of banks to give a bigger package and if it was accepted, all the cases against him could be resolved by the ED.

Earlier, Vijay Mallya had said that he was ready to pay off all the debts incurred by Kingfisher Airlines but the bank and ED in India did not listen to him.

A 13-bank consortium headed by State Bank of India in the London High Court has said against fugitive liquor baron Vijay Mallya that the proposal made by Mallya to pay Rs 9,834 crore is baseless.

The country's banks are yet to recover a loan of Rs 9,000 crore from Vijay Mallya and Vijay Mallya was leaving the country in March 2016 without repaying it. Vijay Mallya has been declared a fugitive and a case is pending against him in a London court. Apart from that, several Indian agencies have declared Mallya wanted in several default cases, including money laundering and money laundering.

13,960 crore. Ready to pay

According to a report, the lawyer did not mention the amount of the settlement package before a bench headed by Chief Justice SA Bobde. But according to reports, Mallya is willing to pay Rs 13,960 crore for the settlement.

This is the highest amount ever proposed by Mallya. Earlier, Rs 9,000 crore was introduced. Mallya has so far shown the largest amount of readiness to settle a dispute with a consortium of banks under the PMLA registered by the ED and close money laundering cases.