Take my money, save Jet Airways: Vijay Mallya tells banks, slams Modi govt


New Delhi, Mar 26 (IT): Day after the government announced that banks will pump Rs 1,500 crore to save Jet Airways from crumbling down, Vijay Mallya, owner of the now defunct Kingfisher Airlines, has hit out at the Modi government for not doing anything for him.

In a series of tweets, the fugitive liquor baron said he has not been recognised for his investments to save Kingfisher and is being criticised for no reason. He also called out the present NDA regime, alleging "double standards".

"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," wrote Vijay Mallya on Twitter.

Mallya further said that while the BJP government has time and again criticised the Manmohan Singh administration for trying to bail out Kingfisher, it has done the same with Naresh Goyal's Jet Airways.

Vijay Mallya asked the PSU banks to take his offer and save the Jet Airways.

Kingfisher Airlines's similar collapse in 2012 caused a massive hue and cry with losses running into millions. Kingfisher's bankruptcy caused job losses, lessors lost millions of dollars and banks took massive writedowns.

Mallya wrote, "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 had earlier said that he wants to pay the pending salaries of his employees utilising the deposits accumulating in the Karnataka HC over his Rs 1,280 crore deposits made in 2013.

After weeks of uncertainty over the future of ailing Jet Airways, the airline's board on Monday approved immediate fund infusion of up to Rs 1,500 crore by lenders as well as conversion of debt into equity.

The airline's founder and chairman Naresh Goyal and his wife on Monday announced that they will exit the board, which will pave way for the funds infusion in Jet Airways.

Indian lenders, led by the State Bank of India (SBI), would become majority shareholders in the airline.

  

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Comment on this article

  • vasu, Mangalore

    Tue, Mar 26 2019

    There is a difference between Goyal and Mallya. Goyal faced the Bankers and did not run away.Also there was no intention to default and divert the money. Mallya not only diverted money, he did not even pay PF of staff and he ran away from the country.So his intention was to do a fraud..

    DisAgree Agree [1] Reply Report Abuse

  • El En Tea, Mumbai

    Tue, Mar 26 2019

    Double Std double face secret of Kuthanthra

    DisAgree Agree [1] Reply Report Abuse

  • MohammedMangaluru, Mangaluru

    Tue, Mar 26 2019

    Mallya is openly offering money to settle his dues, But why our government is not interested and why they make him to wait .. Any political agenda behind this??

    DisAgree Agree [12] Reply Report Abuse

  • Avinash, Mangalore

    Tue, Mar 26 2019

    At first, we want Mr. Mallya to be behind the bars.. Let us talk about Jet Airways later.

    DisAgree [25] Agree [3] Reply Report Abuse

  • Fernandes, Mangalore

    Tue, Mar 26 2019

    Dear Mr.Avinash, do you think putting Mr.Mallya behind the bar will sort out the financials defaults? Will you pls answer my simple questions?
    1) Where were the major Banks lend huge loan when kingfisher was running financially low? 2) Where were the authority when he left the country?
    3) Why the consortium of bank did not honor Mr. Mallya's request to take principal amount ( IANS
    Filed on December 5, 2018 extract of khleej times :Absconding liquor baron Vijay Mallya, wanted in a Rs 9,000 crore bank loan default case, on Wednesday offered to pay back "100 per cent of the principal amount")

    DisAgree [1] Agree [9] Reply Report Abuse

  • NAVEEN, MANGALURU

    Tue, Mar 26 2019

    Mallya sir pay to Kingfisher and discount the beer rate so that everyone can enjoy the hot summer with cool beer

    DisAgree [3] Agree [14] Reply Report Abuse

  • RANGA, mangalore

    Tue, Mar 26 2019

    why cant you come & sit with Banks and settle it instead of tweeting!!..its simple..Mallya knows Indian judicial system..the day Govt, banks moves Mallyas lawyers will bring some stay order...and story goes on...

    DisAgree [7] Agree [9] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Tue, Mar 26 2019

    He couldn't save his own Kingfisher ...

    DisAgree [19] Agree [10] Reply Report Abuse

  • Stany Lobo, Kulshekar

    Tue, Mar 26 2019

    He should hire you as his ad visor !

    DisAgree [2] Agree [18] Reply Report Abuse

  • Deva, Pilar

    Tue, Mar 26 2019

    Come back to your motherland and hand over all your Property then you will be called living Styaharishchandra...agree your heart is Big but not mind.............

    DisAgree [10] Agree [12] Reply Report Abuse

  • Shilpa, Mangalore / Sydney

    Tue, Mar 26 2019

    Mallya is a man with good heart. He has genuinely incurred loss in Kingfisher airline but he has not looted the country like our politicians.

    DisAgree [4] Agree [34] Reply Report Abuse

  • Deva, Pilar

    Tue, Mar 26 2019

    Yes agreed now face the Law ..why run away.. is the Law only for poor Indians ??? he enjoyed a lavish life with other money not his own hard earned..

    DisAgree [7] Agree [8] Reply Report Abuse

  • Moideen, Surathkal

    Tue, Mar 26 2019

    GO and FIGHT his case ............what are you doing here madam?

    DisAgree [7] Agree [8] Reply Report Abuse


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