We all know that the man fled the country owing thousands of crores to the country’s top financial institutions. We also know that the Vijay Mallya story would make excellent fodder for numerous Bollywood movies. Here is all that you wanted to know about what’s been going on in the fascinating Mallya saga:
Mallya made an offer they could and did refuse
He offered banks and financial institutions Rs 4000 crores to settle what he owes; which is well over twice that amount. He said that he would pay 2,000 crore upfront and another Rs 2,000 crore later. Needless to say, this was an offer the banks found quite easy to refuse seeing as Rs 4,900 crores is just the principal amount he owes.
Three summons were issued
The Indian courts issued three rounds of summons which India’s most famous absconder felt compelled to evade since he is currently ensconced comfortably in foreign locales of his choice.
Now they want to revoke his passport
The entire Mallya saga has moved with a inexplicable torpidity – enforcement authorities and financial institutions have moved in slow motion and are trying to do in hindsight what they should have done way earlier when there was the strong suspicion that Mallya would flee. The Enforcement Directorate has only now got their finger out and yesterday they asked the Regional Passport Office in Delhi to revoke Mallya’s passport.
Meanwhile the CBI plods on too
The CBI has sent requests to five nations in the meantime. They are probing the possible diversion of funds by Mallya with regard to his now defunct Kingfisher Airlines. UK, U.S.A, France, Hong Kong and Switzerland are officially being asked for details about the airline’s financial transactions.
Mallya may make another offer
The man that owes a whopping Rs 9000 crores is likely to make another, revised offer. Sources say this time it is likely to be a Rs 6000 crore offer. So why didn’t he make this offer in the first place? No answers there… Mr. Mallya probably expects everyone to be grateful?
Time isn’t right to return
Clearly Mallya likes to state the obvious: he said he felt that the time was not right to return. What’s the matter, Mr. Mallya, India too hot to handle?
And meanwhile, Mr. Mallya continues to inspire crores of Indians:
Author – Reena Daruwalla
