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NEW DELHI: After exhausting judicial remedies against his extradition, fugitive Vijay Mallya told the Supreme Court on Thursday through his counsel that he has offered a package to a consortium of banks, and if it was accepted all cases against him by the ED would be sorted out.
Though the counsel did not mention the quantum of the settlement before a bench headed by Chief Justice S A Bobde, sources said Mallya’s package was of 13,960 crore for full and final payment of the principal defaulted amount in excess of 9,000 crore.
However, solicitor general Tushar Mehta said Mallya had a habit of giving such offers from time to time.
“This is one of the many carrots Mallya has dangled at the end of a stick from time to time. “Let him deposit the money before coming to India,” he said. , giving a hint that Mallya could be extradited to India soon. Mallya has reportedly sought asylum in the UK after losing his battle against extradition in multiple courts there.
In 2016, a Delhi court had issued non-bailable arrest warrants against Mallya for repeated non-appearance in an ED case even as the SC had pulled him up for non-disclosure of his assets during hearing of the petition filed by a consortium of banks for recovery of debts. In March 2016, Mallya had offered to deposit Rs 4,000 crore as settlement, which included pending suits by his companies including the now defunct Kingfisher Airlines. A month later, he increased the offer to Rs 6,868 crore.
Recently, he tweeted, “Congratulations to the government for Covid-19 relief package. They can print as much currency as they want. But should a small contributor like me who offers 100% payback of state-owned bank loans be constantly ignored? Please take my money unconditionally and close.”

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