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Mallya offers to pay up Rs.4,000 crore, apex court told

Mallya's lawyer said proposal for the payment of Rs.4,000 crore by September was made to the chief general manager of SBI

Policy Pulse
Publish Date: Mar 30 2016 1:41PM | Updated Date: Mar 31 2016 11:57AM

Mallya offers to pay up Rs.4,000 crore, apex court told

Supreme Court was told on Wednesday that liquor baron Vijay Mallya has offered to pay Rs.4,000 crore for settling outstanding dues against now grounded Kingfisher Airlines on account of loans extended to it by a consortium of 13 banks headed by the State Bank of India.

 
Apex court bench was also told that Mallya has offered another Rs.2,000 crore that he expects to get, if he succeeds in his suit against multinational General Electric.
 
Mallya's lawyer said proposal for the payment of Rs.4,000 crore by September was made to the chief general manager of the State Bank of India (SBI).
 
SBI told the court that it needed a week's time to consider the proposal made by Mallya.
 
His counsel also told the court that he was still abroad but had two video conferencing sessions with bank officials after he left India to London.