Kingfisher Airlines Chairman Vijay Mallya who left the country earlier this month has offered to pay banks Rs. 4000 crore by September as partial settlement of Airlines debts.
He has also indicated to the SC that the atmosphere of media trial in India was too vitiated for him to return back but the SC bench remarked that the media was doing its job in public interest and harboured no personal grudges against him.
Mallya owes around Rs. 9000 crore to a consortium of banks. The proposal to pay Rs. 4000 crore by September was submitted by Kingfisher. However, the banks have sought more time to go through the proposal.