Will make efforts to clear dues but can't do anything if politically motivated factors interfere: Vijay Mallya

Loan defaulter Vijay Mallya on Wednesday took to Twitter to announce that he would make all the efforts to settle dues with the banks but he won't be able to do anything if politically motivated factors interfare. 

Mallya tweeted, "I continue to make every effort, in good faith to settle with the banks. If politically motivated factors interfere, there is nothing I can do."

Mallya also informed that he and United Breweries Group (UBHL) have filed an application in the Karnataka High Court on June 22, 2018, setting out available assets of approximately Rs 13,900 crores. He said they have asked the court for permission to allow the sale of assets under judicial supervision and repay creditors, including the Public Sector Banks such amounts as may be directed and determined by the Court.

On Tuesday, Vijay Mallya released his letters to Prime Minister Narendra Modi. Vijay Mallya escaped to Britain in 2016 and since then the Modi government has been making efforts to extradite him. Banks are seeking to recover around Rs 9,000 crore from him, Mallya was arrested in 2017 on an extradition warrant.

"I have become the "Poster Boy" of bank default and a lightning rod of public anger, " he wrote in one of his letters to the Prime Minister Narendra Modi. 

Some people have been asking why I chose to make a statement at this time. I have made my statement because UBHL and myself have filed an application before the Hon’ble Karnataka High Court on June 22, 2018, setting out available assets of approximately Rs. 13,900 crores ...1/3

— Vijay Mallya (@TheVijayMallya) June 27, 2018

"The ED have also attached assets belonging to me, my Group Companies and companies owned and/or controlled by my family under the Prevention of Money Laundering Act (PMLA) currently valued at approximately Rs 13,900 crore," he added.

We have requested the Courts permission to allow us to sell these assets under judicial supervision and repay creditors, including the Public Sector Banks such amounts as may be directed and determined by the Court. If the criminal agencies such as ED or CBI object ... 2/3

— Vijay Mallya (@TheVijayMallya) June 27, 2018

Meanwhile, the Enforcement Directorate (ED) has submitted a second charge-sheet in a special court against businessman Vijay Mallya, UB Holding and the now-defunct Kingfisher Airlines along with others charging them of laundering Rs 9,990 crore which they had fraudulently availed as loan from the SBI-led consortium of 17 banks.

... to the sale of assets, it will clearly demonstrate that there is an agenda against me “the Poster Boy” beyond recovery of dues. I continue to make every effort, in good faith to settle with the banks. If politically motivated factors interfere, there is nothing I can do...3/3

— Vijay Mallya (@TheVijayMallya) June 27, 2018

The charge-sheet claims that Mallya used his Force India Formula 1 team and IPL team Royal Challengers Bangalore for money laundering. A year ago, the ED had filed the first charge-sheet against him and eight others for defrauding IDBI Bank of Rs 900 crore and laundering it.

The latest charge-sheet indicated that Mallya-controlled Kingfisher Airlines took a loan of Rs 6,027 crore from the consortium on personal guarantee of Mallya, corporate guarantee of UB Holdings and an inflated brand guarantee of Kingfisher Airlines.

The charge sheet cited four instances wherein the loan amount to Kingfishers Airlines by a consortium of backs were diverted. The loan ostensibly taken for operational expenses of Kingfisher Airlines was used for other purposes, including procuring a chartered aircraft for Mallya’s personal use.

The charge-sheet claims that Mallya laundered the loan money with the help of shell companies with dummy directors who were fronts for Mallya. He also allegedly procured properties in the name of these companies and routed the money abroad through over-invoicing of lease rent for aircraft which he procured from a Mauritius-based company for Kingfisher Airlines.