He had it all and he lost it all! This is the story of the billionaire liquor baron Vijay Mallya. He owes dues worth Rs 9,000 crores to the banks and now it seems that he has crossed the Indian borders and has no plans to return back.Vijay Mallya, whose worth is estimated at Rs 7000 crore, is absconding from India and he has almost admitted not coming back in the near future. A statement from the “Kingfisher” billionaire saying that he would get back “one day”, was also recorded and he was heard saying “I do not feel the time is right. I feel passions are high. People need to think rationally”. He admitted this to the Sunday Guardian.
Has he made a fool of the people and scrammed? Mallya has confessed that defaulting loans is a normal business deal, and the banks are aware of the risks they are undertaking when they hand out the loans. He was heard stating “They decide, we don’t. Our own business was flourishing, but plummeted suddenly. Don’t make me the villain. I have the best intentions. I’m quiet because I fear my words will be twisted like of others,” he said.
Mallya was questioned whether he decided to leave India after he was tipped about the banks reaching courts for justice. With a quick denial he has admitted “I’ve never hidden any aspect about my life. I’m one of the most open people. I’m forced to go into hiding and that makes me sick.” He admitted that he has been labeled as a criminal and it’s not the correct time for him to come back to the country and present his case as he won’t be judged fairly. Now Mr. Mallya has surprised us as he has issued the statement right after a non-bailable warrant has been issued against him by the Hyderabad Court.
Mallya had recently failed to attend to the court summons in connection with a Rs. 50 lakh cheque that had been dishonored. He owed the money to GMR Hyderabad International Airport Ltd. Mr. Mallya has also admitted to the media that he is an Indian at heart and India is the one who has made him “Vijay Mallya”.
Mallya has walked out of the country and left his counsel to face the “dues” controversy. Banks are desperately trying to get their whopping amount of about Rs 9,000 crore back and Mallya is trying to find out the means to squash the non-bailable warrant. According to GMR counsel G. Ashok Reddy said, “He (Mallya) and others were supposed to appear before the court on March 10. They did not appear…. Hence, court issued NBW order which has to be executed by 13 April.” Till we have more on this, keep your eyes glued on this space!
