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Ready to Pay Rs 4K Crore by September: Mallya

The proposal mentions an additional amount of Rs 2,000 crore on the basis of pending suit filed by Mallya’s businesses.

Published: 31st March 2016 03:47 AM  |   Last Updated: 31st March 2016 03:47 AM   |  A+A-

NEW DELHI: Liquor baron Vijay Mallya on Wednesday told the Supreme Court that he is willing to pay back Rs 4,000 crore by September for a settlement against his default of loans worth Rs 9,000 crore from various banks.

A bench of Justices Kurien Joseph and Rohinton Nariman has allowed the consortium of banks to go through the proposal and respond within a week to it, besides posting the matter for hearing on April 7.

mall.jpgThe proposal also mentions an additional amount of over Rs 2,000 crore on the basis of a pending suit filed by Mallya’s businesses.

The proposal was placed jointly by Mallya and his companies - Kingfisher Airlines Ltd, United Breweries (Holdings) Ltd and Kingfisher Finvest (India) Ltd.

Appearing for Mallya, senior lawyer C S Vaidyanathan requested the court to keep the proposal in a sealed cover and not let the media know about its contents.

The bench asked whether Mallya is back in India or not. “Where are you? Are you back in India?” the judges asked the counsel, who replied that Mallya was still abroad and had a video conference ing with him the day before.



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