Vijay Mallya on Kingfisher Airlines case

The founder and former owner of Kingfisher Airlines also said that he had met the Chairman of the State Bank at his Training Academy in Hyderabad and offered an agreement that was not accepted. He said, “He wanted Rs 14,000 crore, which is why he did not accept.”

Earlier in February this year, Mallya told Karnataka High Court through his lawyer Although the banks had already recovered the outstanding amount of about Rs 6,200 crore to the banks, but in December last year, a statement was made about the recovery of Rs 14,000 crore by Union Finance Minister Nirmala Sitaraman in the Lok Sabha.

Mallya faces allegations of cheating, criminal conspiracy, money laundering and debt fund. Some of his companies, including Kingfisher Airlines, face allegations of violating the Companies Act, 2013, and the Capital Markets are the criteria set by the regulator.

https://www.youtube.com/watch?v=mdeqmvbuggy

In a post X After the release of the podcast episode, he wrote: “For those who are interested, I have spoken for the first time in nine years on this podcast. I want to call Kingfisher Airlines employees sorry and set the record with facts and truth.” Mallya, who has maintained his stance to deny any wrongdoing, has been living in the United Kingdom since March 2016.

What went wrong with Kingfisher Airlines

Mallya claimed that he went to the then Finance Minister Pranab Mukherjee (who served between 2009-12), saying that he needed to reduce the airlines who were not “great” at that time. Mukherjee reportedly told him that he could “like and start it all”.

Responding to Shamani’s query on a series of events, airlines collapsed, Mallya stated that a group of 15 to 16 public sector banks was part of the lenders’ consortium. “Kingfisher Airlines never paid any money from SBI.

Then in detail on the set-up, he said that the SBI aircraft was a lender for Deccan (later said. Simple DeccanWhen Kingfisher and Deccan merged in April 2008, SBI became a lender for the entire unit. Mallya explained, “Two separate groups of banks jointly borrowed money as a unit by both airlines when both merged,” Mallya explained.

On the loans received, Mallya again referred to FM Mukherjee and said: “The 17 banks of the banks believed in the sight, he evaluated his own.”

“There were times when the support of the then FM meant that when I presented various banks that the airlines needed funds, including SBI, they would recognize it, SBI would properly evaluate them through capital markets, and approve the loan, even though there was a shortage of credit qualification criteria of airlines,” he said.

“To that extent, I am thankful,” Mallya said, he said that he is “infected” of Rs 3,000 crore from his UB Holdings Limited “in Cash”.

He said, “You talk about money using Kingfisher money for my lifestyle, for Formula 1, but no one talks about the money that I infected in cash, to save him,” he told the Shamani.

“I gave my personal guarantee, UB Group also did. Please never forget, I gave my personal guarantee … Is there a thief Kabi Kabi his personal guarantee detailed(Does a thief ever give a personal guarantee?) “

In addition, he cited entrepreneur Kiran Majumdar Shaw, who has often publicly stated that Mallya has placed everything on the line for Kingfisher. He said, “But it is not appreciated. It is sad. Whatever the story is, let it be,” he said.

“This is why I say that I have not disturbed it in the last nine years because it has been written by the Indian media, of course, indicated by the government that conducts its own press conferences etc.”.

On the collateral involved in the bank loan, the businessman stated that the name of the Kingfisher brand was one of the shares, shares and assets. Rs 14,000 crore recovered by banks, he said, his individual shares are included. “Nobody shares values. This is your answer for all narratives.” He clearly commented.

“Vijay Mallya has never borrowed a single rupee from anyone” Kingfisher Airlines, the company, borrowed and I was a guarantor, a big difference, “Mallya said.