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Fugitive liquor baron Vijay Mallya repeats offer of 100 percent payback to Indian banks

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London: Embattled liquor tycoon Vijay Mallya took to social media on Monday to lament the collapse of Jet Airways and repeated his offer of a “100 per cent payback” for state-owned Indian banks to cover his now-defunct Kingfisher Airlines’ debt.

The 63-year-old former Kingfisher Airlines (KFA) boss is currently appealing against his extradition order from the UK to India to face charges of fraud and money laundering amounting to an alleged Rs 9,000 crores.

Mallya drew parallels between the plight of his collapsed airline and that of Jet Airways, India’s leading private airline which grounded to a halt earlier this month amid a mounting cash crunch.

 

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“Several Indian airlines collapsed sadly including KFA. Now the previously unthinkable has happened with the collapse of Jet,” Mallya said on Twitter on Monday.

“Genuine business failures. But I am criminally charged by CBI/ED despite offering 100% payback. Wonder why only me,” he questioned.

His latest Twitter statements echo some of his previous social media interventions on the issue, claiming that his offer to pay back the debt owed by his now-defunct airline had been rebuffed by the banks and the Indian government.

 

Scared liquor tycoon Vijay Mallya repeats offer of 100 per cent payback for Indian banks:

 

“Watched TV debate on the sad collapse of Jet which included unpaid employees and Industry veterans. Important issues on unemployment and suffering, security available to banks, prospects of revival etc. Here I am offering 100% payback of KFA loans which Banks won’t take. Why?” he said.

Mallya, who remains on bail on an extradition warrant executed by Scotland Yard in April 2017, is undergoing a UK High Court appeals process against his extradition order signed off by UK home secretary Sajid Javid in February.

 

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He has been allocated July 2 as the date for a brief hearing to convince a High Court judge that he should be given permission to proceed to a full-blown appeal against Chief Magistrate Emma Arbuthnot’s Westminster Magistrates’ Court ruling last December in favour of his extradition to India.

The judge had concluded there was “clear evidence of dispersal and misapplication of the loan funds” and accepted a prima facie case of fraud and a conspiracy to launder money against Mallya, as presented by the Crown Prosecution Service (CPS) on behalf of the Indian authorities.

Meanwhile, the businessman also faces a flurry of other legal cases in UK courts related to a worldwide freezing order and a threat of foreclosure of one of his homes in central London.

 

Business

Apple is giving a huge discount on its gadgets: Details inside

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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