Massive setback forces Vijay Mallya to voice this big worry

Fugitive businessman Vijay Mallya today took to Twitter again and said he will make all effort to settle dues with the banks. However, the fear he expressed thereafter was not about money, instead he focussed on something else - politics. He expressed his inability to do anything if 'politically motivated factors'  interfere. Mallya had taken to Twitter yesterday too to say, "I have become the "Poster Boy" of bank default and a lightning rod of public anger." Today, he clarified his stand in his tweets, "I continue to make every effort, in good faith to settle with the banks. If politically motivated factors interfere, there is nothing I can do."
 
According to the liquor baron, he and United Breweries Group (UBHL) submitted an application in the Karnataka High Court on June 22, 2018, setting out available assets of approximately Rs 13,900 crores, asking for the court's permission to allow the sale of assets under judicial supervision and repay creditors, including Public Sector Banks such amounts as may be directed by the court.
 
In his letter released to media yesterday, Vijay Mallya said that he has become the "Poster Boy" of bank default and a lightning rod of public anger. He broke his silence about the "factual position in response to the controversy unfortunately surrounding" him, and said he had written letters to both the Prime Minister and the finance minister on April 15, 2016 to explain his side of the story. 
 

... to the sale of assets, it will clearly demonstrate that there is an agenda against me “the Poster Boy” beyond recovery of dues. I continue to make every effort, in good faith to settle with the banks. If politically motivated factors interfere, there is nothing I can do...3/3

— Vijay Mallya (@TheVijayMallya) June 27, 2018

The beleaguered liquor baron, however, said, "no response was received from either of them." "I have been accused by politicians and the media alike of having stolen and run away with Rs 9,000 crores that was loaned to Kingfisher Airlines (KFA). Some of the lending Banks have also labelled me a wilful defaulter," the statement said. 

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. If the criminal agencies such as ED or CBI object ... 2/3

— Vijay Mallya (@TheVijayMallya) June 27, 2018

Mallya, who is currently fighting against extradition to India from the UK, stated that the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) have filed charge sheets against him "with various untenable and blatantly false allegations acting at the behest of the government and lending Banks". 
 

Some people have been asking why I chose to make a statement at this time. I have made my statement because UBHL and myself have filed an application before the Hon’ble Karnataka High Court on June 22, 2018, setting out available assets of approximately Rs. 13,900 crores ...1/3

— Vijay Mallya (@TheVijayMallya) June 27, 2018

Further, the letter said, "The ED have also attached assets belonging to me, my Group Companies and companies owned and/or controlled by my family under the Prevention of Money Laundering Act (PMLA) currently valued at approximately Rs 13,900 crore," Mallya said, adding "I have become the 'Poster Boy' of Bank default and a lightning rod of public anger". 
 
The letter reportedly stated that he also agreed to settle the dues of Indian banks, clarifying that some of the claims made by the consortium of banks are bogus. He said, “Bulk of the claims of PSU Banks is on account of interest.”  
 
The beleaguered businessman, who escaped to Britain in 2016, stated that the “time has come” for to state the factual position in the reply to the controversy.
 
Since his escape to Britain, the government has been making efforts to extradite him. Banks are also seeking to recover around Rs 9,000 crore from him.
 
Mallya, who was arrested in 2017 on an extradition warrant, said, "The ED have also attached assets belonging to me, my Group Companies and companies owned and/or controlled by my family under the Prevention of Money Laundering Act (PMLA) currently valued at approximately Rs 13,900 crore." 
 
Lamenting that all his "efforts are either ignored or misunderstood", he said, "I am tired of this relentless pursuit of me by the government and its criminal agencies". Further, he insisted that he had made and "continue to make every effort, in good faith to settle with the public sector banks."
 
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Notably, the Enforcement Directorate (ED) has submitted a second charge-sheet in a special court against Vijay Mallya, UB Holding and the now-defunct Kingfisher Airlines along with others charging them of laundering Rs 9,990 crore which they had fraudulently availed as loan from the SBI-led consortium of 17 banks.