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Thu, Nov 15, 2018 | Last Updated 11:39 am IST

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Who is the Poster Boy of Bank Default?

Who is the Poster Boy of Bank Default?
Who is the Poster Boy of Bank Default?
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New Delhi sources reported that fugitive liquor baron Vijay Mallya said he has become the "Poster Boy" of bank default and a lightning rod of public anger, and there's nothing he could do "if politically motivated extraneous factors interfere" with his efforts to settle the dues. Meanwhile when speaking after "two years of silence" over the controversy surrounding him in the over Rs 9,000 crore Kingfisher Airlines loan default case, Mallya denied that he was a willful defaulter.



Moreover tired of "relentless pursuit" of him by "the government and its criminal agencies", Mallya said he had even written letters to both the Prime Minister and the Finance Minister on April 15, 2016 to explain his side of the story. He said "The ED have also attached assets belonging to him, his group companies and companies owned and or controlled by his family under the Prevention of Money Laundering Act (PMLA) currently valued at approximately Rs 13,900 crore”.

Who is the Poster Boy of Bank Default?

Furthermore when citing reports of ED objecting to public sector banks' claim to the proceeds arising from the sale of his assets, Mallya said, "This is a clear example of politically motivated abuse of power with no legal basis whatsoever and behaves the fundamental question of whether the government wants me to repay the public sector banks or not".

Who is the Poster Boy of Bank Default?

Who is the Poster Boy of Bank Default?
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