Vijay Mallya Flees with Rs. 9000 cr Debt
Rumors are making rounds that Vijay Mallya who loaned as much as Rs. 9000 crore from banks and flee from India. 13 banks that advanced loans to Vijay Mallya have filed petition in Supreme Court to restrain him from leaving India. While Times Now did some background work, it came into light that Vijay Mallya who got to know about the petition has already fled from Delhi to London in a special flight on March 2nd. For his various businesses like Kingfisher Airlines, United Beverages, IPL Bengaluru Franchise, Mallya loaned as much as Rs.9000 cr from 13 banks. He spent the money for his lavish lifestyle and failed to repay debts stating the reason that his companies are running in losses. Vijay Mallya who has close contacts with several politicians, popular journalists has loaned huge amounts from banks after showing them a very high share value of his companies. There are allegations that politicians of many parties are guests of Vijay Mallya who enjoy benefits. Banks create fuss when a commoner delays repaying even Rs.10,000. The question now is why such banks have zipped their mouths while Vijay Mallya is to repay nearly Rs.10,000 crores. It is heard that even though all his assets are put for sale by court, they amount not even to one-third of his 9,000 crore debt, which means banks will lose Rs.6,000 crore.