In April, the lending consortium rejected Mallya’s offer of a Rs.6,000 crore settlement. Mallya has also made a new offer to settle with the banks, according to The Economic Times on Monday. Vijay Mallya tells the board ‘he is in a real spot’ and ‘would like to come back to India but not under such circumstances’Vijay Mallya left India on 2 March as creditors to Kingfisher Airlines moved in on him. Mallya left India on 2 March as creditors to Kingfisher Airlines moved in on him. The bank, which took possession of Mallya’s Kingfisher Villa in Goa, will auction the property to recover part of the dues, said the official who did not want to be identified.

Source: Mint May 16, 2016 02:45 UTC