Vijay Mallya offers settlement package to avoid extradition to India.
Vijay Mallya has offered a comprehensive settlement package of Rs 13,960 crore to the consortium of banks in India as the fugitive liquor baron seems to have exhausted all his judicial options against his extradition to India.
According to the Times of India, Mallya's counsel told the Supreme Court about him offering a comprehensive settlement package to a consortium of banks. Vijay Mallya's counsel further said that if the offer gets accepted then all the cases by Enforcement Directorate against him would be sorted out.
However, it is not yet confirmed what is the exact amount that Vijay Mallya has offered before the Supreme Court bench headed by Justice SA Bobde.
Meanwhile, according to Times of India, sources said Vijay Mallya had last month filed a petition offering a settlement package of Rs 13,960 crore. Though the principal defaulted amount is Rs 9,000 crore.
"This is one of the many carrots Mallya had dangled at the end of a stick from time to time. Let him deposit the money before coming to India," said Solicitor General Tushar Mehta.
Since not being the first time when Mallya has offered a settlement package, the consortium of banks had rejected previous offers made by him.
