Indian tycoon Mallya prepared to settle debts: FT


Former Indian airline boss Vijay Mallya said he is prepared to settle millions of dollars owed to banks after the collapse of his firm, in an interview published on Friday in the Financial Times. “But we wish to settle at a reasonable number that we can afford and banks can justify on the basis of settlements done before,” he told the business daily, which gave a figure of £440 million. Mallya, a part-owner of the Force India Formula 1 team who used to run a liquor empire, left India on March 2 owing more than $1 billion (£680), and an…

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