World Media

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

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

The minister said Mallya's version is "factually false" and "does not reflect the truth".

Mallya, earlier in the day, had told reporters outside London's Westminster Magistrates' Court, ahead of appearing for hearing in his extradition case, that he did not flee the country with public funds instead he offered a settlement deal to the government. "Since 2014, I have never given him any appointment to meet me", Jaitley said.

Congress chief Rahul Gandhi tweeted Prime Minister Narendra Modi should immediately order an independent probe into Vijay Mallya's "extremely serious allegations" and Arun Jaitley should step down while the investigation will be carried out.

Arun Jaitley's rebuttal comes hours after Mallya's claim that he had met the minister before leaving the country in 2016 triggered a political firestorm.

Recalling the occasion when Mallya "misused" his position as an MP, Jaitley wrote that the fraud accused had paced up to catch up with him when the FM was walking out of the House to go to his room. Before leaving I met the finance minister and offered to settle (the issue with the banks), Mallya said, without naming the minister.

Terming Mallya's offer to settle overdue loans of more than Rs 9,000 crore to his now-defunct Kingfisher Airlines as "bluff offers", Jaitley said he did not even take the papers the liquor baron was carrying during that brief encounter. "How could he have left after everyone knew of these debts and after he had made offer to settle", he added.

In separate legal proceedings, the businessman lost his appeal in the UK's Court of Appeal against a High Court order in favour of 13 Indian banks to recover funds amounting to almost 1.145 billion pounds.

Mallya's lawyer told Westminster Magistrates Court that IDBI bank officials were well aware of losses at Kingfisher.

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Speaking on the issue, senior Congress leader Anand Sharma said, "Vijay Mallya has run away after looting money from banks".

The liquor baron is facing money laundering charges in multi-crore fraud case in India, which wants him extradited from the United Kingdom where he fled to in March 2016.

The extradition trial, which opened at the London court on 4 December a year ago, is aimed at laying out a prima facie case of fraud against Mallya.

"I have no comment, you are hearing everything in court", he added on further questions by the reporters.

Mallya is now an absconder after he fled the country with dues with banks to the extent of over Rs 9,000 crore.

The extradition trial, which opened at the London court on December 4, 2017, is aimed at laying out a prima facie case of fraud against Mallya.

The extradition trial, which opened at the London court on 4 December previous year, is aimed at laying out a prima facie case of fraud against Mallya.


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