Vijay Mallya
Vijay Mallya

IDBI officials knew of losses at Kingfisher, claims Mallya's lawyer

ANI | Updated: Sep 12, 2018 16:48 IST

London [United Kingdom], Sep 12 (ANI): The lawyer of liquor baron Vijay Mallya on Wednesday claimed that IDBI Bank officials were well aware of the losses incurred in the debt-ridden Kingfisher Airlines.

Mallya's lawyer told Westminster Magistrates Court in London, "IDBI bank officials were well aware of losses at Kingfisher. The emails from IDBI officials show that the government's accusation of Mallya hiding losses is baseless."

The lawyer further said, "There is no evidence that Mallya or Kingfisher applied for bank loans with bad intent."

Mallya, while heading inside the court in connection with his extradition case, said that he is ready for a comprehensive settlement.

On being asked if he has convinced the Court that he has the means to pay what he said he will, Mallya told media here, "Obviously, that is why a settlement offer has been made. The hearing is on September 18."

Mallya, an alleged financial offender, is facing charges of bank fraud and money laundering in India, amounting to the tune of Rs 9,000 crore.

Mallya is wanted in India for defaulting on bank loans to the tune of Rs 9,000 crore, has been in the UK since March 2016. He was arrested by the Scotland Yard on an extradition warrant in April this year. (ANI)

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