Vijay Mallya: ED chargesheet is nothing but a witch hunt to make me poster boy of bank default

Liquor baron Vijay Mallya, who is wanted in India in several cases, including Foreign Exchange Regulation Act (1995) violation and non-repayment of loans, has said that he is ready to pay Rs 13,000 crore to settle bank dues in India.

The billionaire said that he is tired of the relentless pursuit by the authorities to recover dues from him. He also said that he had earlier written a letter to Prime Minister Narendra Modi and the Union Finance Minister to explain his side of the story but none of them responded to it.

"I wrote letters to both the Prime Minister and the Finance Minister on 15th April 2016 and am making these letters public to put things in the right perspective. No response was received from either of them," Mallya said in a statement on Tuesday (June 26).

"I have become the "Poster Boy" of bank default and a lightning rod of public anger. I have been accused by politicians and the media alike of having stolen and run away with Rs 9,000 crores that was loaned to Kingfisher Airlines (KFA). Some of the lending Banks have also labelled me a wilful defaulter.".

"Recovery of loans is a civil matter which has been criminalised in my case, who is living in the UK. I am tired of this relentless pursuit of me by the government and its criminal agencies. All my efforts are either ignored or misunderstood," the 62-year-old industrialist added in the statement.

Mallya clarifies amounts he needs to repay to banks

Mallya also clarified the principal amount that he needs to repay.

"Important to note that the Principal amount involved remains at approx Rs. 5,000 crores (less the recoveries made from sale of properties and other recoveries made by the Recovery Officer, DRT) as against the various inaccurate amounts appearing in the media," ANI quoted him as saying.

Mallya's 5-page statement to media

The fugitive businessman even took to Twitter and posted a copy of his statement to the media.