Accordingly embattled liquor tycoon vijay Mallya, whose social media interventions against the Indian government are a regular occurrence, took to twitter once again to repeat his 100% loan payback offer to the public sector banks in india. Meanwhile the 63 year old former Kingfisher Airlines boss, fighting extradition to india in relation of fraud and money laundering allegations arising out of the debt acquired from the banks, quoted finance minister Nirmala Sitharaman's Lok Sabha statement from last week in his latest offer.
Mallya said "business failures in this country should not be tabooed, or looked down. On the contrary, we should give an honorable exit or resolution to the problem in letter and spirit of the IBC". He said "In this spirit please accept my 100 per cent settlement offer”. Furthermore in the wake of the death of Cafe Coffee Day founder V G Siddhartha, Sitharaman made the statement while responding to the debate on the amendments to the Insolvency and Bankruptcy Code (IBC) in the Lok Sabha last Thursday.
Moreover Mallya had previously taken to Twitter to draw parallels between his situation and that of Siddhartha, who had purportedly written a suicide note that pointed to harassment by the Income Tax Department before his body was found near a river on the outskirts of Mangalore.
