Vijay Mallya ‘Most Pained’ at Being Painted an Absconder
Mallya blames media, seeks to clarify why Kingfisher failed
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In a damage control exercise, beleaguered industrialist Vijay Mallya, 60, on Sunday blamed media for spoiling his reputation and sought to clarify why his dream airline Kingfisher failed.
Accusing media of indulging in sensationalism, he said he felt the time had come to clarify his position in order to avoid relentless attack on his reputation.
“I have always lived an honourable life and the calumny notwithstanding, shall continue to do so. As to the allegations in media, all I can say is I hope some sobriety and sense will prevail and truth not held a hostage to TRPs.”
CNN IBN also reported Mallya as saying that he is making all efforts to reach a one-time settlement with banks while payments from Diageo Plc agreed last month are to himself towards his personal, non-compete obligations.
Recalling that Kingfisher was launched in 2005 on the basis of viable business plan vetted by SBI Capital Markets and international aviation consultants, Mallya admitted that despite every effort, the airline was an unfortunate commercial failure caused by macro-economic factors and then government policies.
“The truth about Kingfisher Airlines and its financial stress due to external factors has been reported by State Bank of India (SBI) to the Reserve Bank of India (RBI) in their letter dated 31st January 2012,” he said in the statement.
Mallya’s statement comes ahead of the Debt Recovery Tribunal’s order on the four interlocutory applications (IAs) the SBI moved on March 2, seeking his arrest, impounding his passport, disclosure of his assets in India abroad and first claim to the $75 million deal he had signed with British liquor major Diageo plc on February 25 for resigning as chairman of its Indian arm United Spirits Ltd (USL). The tycoon also said he would move to Britain to be with his family.
(With inputs from agencies)