Yesterday we reported that Vijay Mallya has produced an offer to settle loan for the debts he received from the banks. The proposal was submitted to Supreme Court for repayment of Rs.4000 Crores.
And now SBI has made a statement and it reads as, "The consortium of banks led by SBI confirms receipt of an offer for settlement of dues from Kingfisher Airlines Ltd. The bank, along with other consortium members, will examine the same." And this statement never revealed the amount which Vijay Mallya has offered to repay to the banks.
The proposal form was submitted to a bench comprising Justices Kurian Joseph and RF Nariman. They read the proposal and gave banks a time of one week and more hearing will come on April 7th. Initially, banks said that Mallya never co-operated with them on the dues matter.
Now in a leading magazine, it was said that, Vijay Mallya has decided to sell his stake in United Breweries to partner Heineken and he has planned to arrange funds for settlement with the banks. Heineken is also asking Mallya to step down from board of United Breweries.
