Sports Contest

In Vijay Mallya's Twitter rant, curt shoutout to banks: 'Damned if you do and damned if you don't'

New Delhi, News Nation Bureau | Updated : 28 March 2019, 09:13 AM

Absconding liquor baron Vijay Mallya has sharply reacted to Indian agencies selling his shares to recover part of the Rs 9,000 crore bank loan. The reaction came after the Enforcement Directorate said that the sale of over 74 lakh shares held by absconding businessman Vijay Mallya in the United Breweries Holdings (UBHL) Limited by Bangalore-based Debt Recovery Tribunal fetched Rs 1,008 crore. Mallya rued that he has been branded thief unnecessarily, whereas he himself had proposed this selloff to recover the loan.

“So much so for branding me a thief who stole PSU Bank money and ran away. Banks have made a substantial recovery in the past and also today. All included in my settlement proposal too. Damned if you do and Damned if you don’t is how I am treated,” Mallya said on Twitter.


This is another episode of Twitter rant after his sharp swipe at the Indian banks for saving the Jet Airways. Mallya, who saw his Kingfisher Airlines going bankrupt, has accused the NDA government for having ‘double standards.’ In a Twitter outburst, Mallya accused both government and the banks in failing to save his airline. “Happy to see that PSU Banks have bailed out Jet Airways saving jobs, connectivity and enterprise. Only wish the same was done for Kingfisher,” Mallya said in one of his tweets.

“BJP spokesman eloquently read out my letters to PM Manmohan Singh and alleged that PSU Banks under the UPA Government had wrongly supported Kingfisher Airlines. Media decimated me for writing to the current PM. I wonder what has changed now under the NDA Government,” he added. Mallya slammed the Modi government and said that, “I invested over 4000 crores into Kingfisher Airlines to save the Company and its employees. Not recognised and instead slammed in every possible way. The same PSU Banks let India’s finest airline with the best employees and connectivity fail ruthlessly. Double standards under NDA.”

“And I repeat once again that I have placed liquid assets before the Hon’ble Karnataka High Court to pay off the PSU Banks and all other creditors. Why do the Banks not take my money. It will help them to save Jet Airways if nothing else,” Mallya said as he renewed his payback offer.

First Published: Thursday, March 28, 2019 08:51 AM
For all the latest Business News Download the News Nation App available on Android and iOS.