Vijay Mallya hints at desire to return to India

Liquor baron Vijay Mallya has reportedly reached out to Indian authorities expressing his desire to return to the country to face the law.

 Source, however, refused to divulge more details about Mallya’s future actions, reported news agency PTI.

Mallya is the main accused in a Rs 9,000 crore bank fraud case. The 62-year-old is contesting in a London court the Indian government’s action for extradition. He is also contesting the recent action against him under the Fugitive Economic Offender Ordinance, which gives authorities permission to immediately confiscate Mallya’s properties in India as well as abroad, which is estimated to be worth around Rs 12,500 crore.

In June, Mallya expressed his wish to repay the public sector banks that gave loans to his now defunct Kingfisher Airlines, saying the value of his assets is much more than what it was in 2016.

Back then he had offered to pay back Rs 4,400 crore worth of loans to state-run lenders.

Last month, Mallya said he and UB Holding Ltd have filed an application before the Karnataka High Court on June 22, 2018, setting out available assets of approximately Rs 13,900 crore.

"We have requested the Courts permission to allow us to sell these assets under judicial supervision and repay creditors, including the Public Sector Banks such amounts as may be directed and determined by the Court," the tycoon said.

Countering claims he had no intention to repay banks, Mallya tweeted, "I have made an application to the Honourable Karnataka HC showing assets far in excess of the Banks claims and requesting sale under judicial supervision."

"It is incorrect that my settlement offer before the Karnataka HC was motivated by the latest charge sheet under the media reported Fugitive Ordinance. I always had honest intentions to settle and there is ample proof," Mallya added.