first pay the banks the principal amount before the next hearing to all the banks which have dues. Next come to india, discuss with the banks for a haircut rate in the interest amount to be paid. Why don't you sell a part of your investment from the other companies and resolve the matter, if need be take time from banks. You have lost the trust of the indian authorities and the banks as you had run away from the process of law after jumping bail conditions. The jail is ready to suit your requirements with TV, Western commode, big room with direct sunlight and beddings with fan. Why the sudden change in your attitude when you said that you are not fugitive and ready to face the indian law. Just for Rs.6000cr you moved out of the country, Look at Ambaani, Adani and other business men who have loans more than 5-8times of your loan amount and are in india and even getting orders from other countries and are expanding their business. It was your thought that you can escape the iaw that has not put you in this condition. Even the Ruias, Guptas, Dhoot etc paying part amounts and still in india. 5 yrs the interest on the principal amount is enough for you to stay in UK for the rest of your life. The oil prices fell down from the time you moved out and you could have had a better airline business if you had continued or sold them instead of making them defunct.
Re: Make payments to banks first for any reconsideration
by arun s on Dec 05, 2018 02:41 PM
Banks cannot charge intrest for default account where as they charge hefty amount as interest for mallya. i think he has right to ask haircut in prinicpal amount also.
Re: Make payments to banks first for any reconsideration
by arun s on Dec 05, 2018 02:41 PM
Banks cannot charge intrest for default account where as they charge hefty amount as interest for mallya. i think he has right to ask haircut in prinicpal amount also.
Re: Make payments to banks first for any reconsideration
by arun s on Dec 05, 2018 02:41 PM
Banks cannot charge intrest for default account where as they charge hefty amount as interest for mallya. i think he has right to ask haircut in prinicpal amount also.
Re: Make payments to banks first for any reconsideration
by Narayanan V on Dec 05, 2018 12:44 PM
Yes It will be in everyone's interest and after paying the principal, he can plead for haircuts. This will also enable him to remove the stains to some extent and turn a new leaf.
Re: Mallya tweets: Offered to pay back loan in full, take it
by Nikhil on Dec 05, 2018 12:23 PM
Every body taking loan from Banks will say that after 5 years- I will pay the principal. What about the interest? Banks are giving loans on interest not free.
If you are having money to offer the principle amount to the banks, then why did you take more than 5 yrs to repay them and also why did you have to run away from the country sit in a foreign land and give statements. If you have repaid the peincipal amount you could have fought the cases against banks for the interest amount. Now when you are an offender and are being ready to be extradited back to india for the offence you are giving such statements to the UK and indian authorities.
This is another diversion tactics by you. First you said you have security issues in india. then Jails are not good, jails were made ready to suit your requirements and now you are ready to repay when its confirmed that you will be sent back to indian jails then it may be difficult for you to come out as you have jumped bail conditions and ran to the UK. Just because your other business gave money as taxes to the govt which is rightfully taken from the customers of the beverages as part of the business and its not your money paid in taxes and customers were not taxed. Just because I pay my taxes (income tax) and I take loans from banks for other purpose like personal, housing and business. can I say that as I have been a regular tax payers, I will not pay the interest to the banks as the raw materials for my business went up and product prices came down due to competition. Will any govt or banks accept it.
You could have discussed with banks for haircut on interest rates.
Re: you cud have paid the amt when in india why in UK
by P S SHAH on Dec 05, 2018 04:00 PM
Can you give reasons why the huge amount offered by mallya as initial part payment was rejected by the consortium of banks headed by State bank of India ? I feel some one wanted to settle their personal score against Mallya and were instrumental in not accepting his offer which was reasonable.
Re: Re: you cud have paid the amt when in india why in UK
by rajesh venkatraman on Dec 05, 2018 07:48 PM
the part payment was only on the principal amount. which bank will accept those conditions as it will need to write off rest of the amount due from him. If bank allows for one person then all other business men will show loss in the account book for a particular company of his and tell bank to consider only part payment and write off the rest while the businessmen would have transferred or bought assets under diff company name. The banking industry will be under huge loss as there will be no loan repayment by farmers - awaiting for loan waivers, businessmen - awaiting for loan waivers, students - till he gets a job which will allow him to repay loan after all his expenses. The banks are asked to give loans of a certain percentage to farmers, students and businessmen. some culprits take advantage of the loopholes in the banking system created by the corrupt politicians with lawyers support as they know that the business men will not be jailed and sure to get bail if incase of any offence filed against him. The politician makes money aka commission from the businessmen and backs them till they are in power or have folks in major departments who inform them of the latest happenings in the department be it raids, spy rings, etc
Why the Govt is not taking full ammount from Malya as tweeted by him. t least the amount needs to be recovered without delay. Further actionas deemed fit can be taken even later on. Let this Govt awake
Re: Mallya tweets: Offered to pay back loan in full, take it
by Manoj Mehta on Dec 05, 2018 11:59 AM
You can not act on Tweets !!! Will you take any action on your personal issues also based on some one'e tweets ??
Re: Mallya tweets: Offered to pay back loan in full, take it
by Nikhil on Dec 05, 2018 11:59 AM
Headline and tweet deceptive. He is not paying interest. Why pay back only Principal?.
first deposit the money then al will be ok. nothing can believe in speech. believe on action so deposit money and clear your all loan then nobody have right to disturb you. so do not do politics .
Re: first
by Ram Niwas on Dec 05, 2018 11:41 AM
What is the problem in accepting the money . Why this govt is not taking practical measures to accept the money as being offered. They can take any action later on
Re: Re: first
by abhay bisen on Dec 05, 2018 01:13 PM
First understand How one offer money.
Such big amount of money is offered or deposited through instruments like Cheque, is Malya saying he signed a Cheque with XXX amount in name of Financial institute as payment and bank has rejected his cheque?
No. he is making fool out of people with his statements. There is procedure where one can legally opt to get declared as bankrupt where that person/organisation's asset where used to pay-off whatever part of loan and person/organisation is set free and no one bother them. Only restriction is that they will not get any Loan in future.
The Adventure of Mallya and people like him put burden on Banks to recover loss from non-performing assets and result is hike in loan interest rate for common people and reduced FD rates for common people.
Mallya have more than enough assets to pay penalty, interest and principal amount of Loan and that is what Government and Banks are trying to do.
this will also set example for other business men to not to default and runaway from country by robbing it.
Re: Hello
by Sumit Ganguly on Dec 05, 2018 11:23 AM
Point #1. Instead of giving statements that he is willing to pay, why does not Mallya actually pays. Should not take more than 5 minutes for an online payment. Point#2. Why only Principal? he needs to pay the interest cost as well or else it raises the already gigantic NPAs of the Banks.
It is the idiot Arnab Goswami, who has spoiled the image of Mallya. Mallya's loan default is of Rs.8000 cr. where as Anil Ambani and Adani's default is more than 40000 cr each. Why they are roaming free.
Re: Mallya not a defaulter
by Ram Niwas on Dec 05, 2018 11:43 AM
Right you are . These people are earning lakhs of crores than why they are not returning bank loans. Can respected Modi Ji Intiate action against them
Re: Re: Mallya not a defaulter
by Nikhil on Dec 05, 2018 12:03 PM
Under bankruptcy clause the cases is pending against ADA group. But Mallaya ran away and tweeting to give only principal. If this is allowed everybody will default and pay the principal and make a neat profit on interest.
Re: All because of Congress and Raghuram Rajan
by Ram Niwas on Dec 05, 2018 11:46 AM
All the works were done under congress rule . Congress made India sufficient in foodgrains production by construction damas and canal systems , power houses , thermal plants. etc. But you have no other jovb except to balme congress for everything
