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1. Banks reject Mallya’s Rs 4,000 Crore offer
1 Comment
07.04.2016
17 Indian Banks
have rejected the
offer by liquor
tycoon Vijay
Mallya and his
companies to repay
Rs 4,000 crore to
them by September
2016.
Vijay Mallya and is
companies told the
Supreme court of
India on March 31,
2016 that they were
ready to repay Rs
2,000 crore
upfront to the
banks and another
Rs 2,000 crore by
the end of September 2016. The proposal made by Vijay Mallya and his firms UB Group,
Kingfisher Airlines and Kingfisher Finvest.
Banks however have rejected the offer by Mallya and they plan to plead to the Apex court for
refund of the entire loan amount of Rs 9,000 crore within a reasonable time.
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