Liquor baron Vijay Mallya offers to pay up Rs.4,000 crore to lenders

New Delhi: Indian liquor baron Vijay Mallya has offered to pay a sum of Rs. 4,000 crores of the Rs 6,903 crores to the lenders for settling the loans extended to it by a consortium of 13 banks headed by the State Bank of India.

Mallya's counsel said that the proposal for the payment of Rs.4,000 crore by September was made to the chief general manager of the State Bank of India (SBI).

The SBI, however, said that it needs a week's time to consider the proposal made by Mallaya.

Mallaya's counsel also told the apex court bench of Justice Kurien Joseph and Rohington F. Nariman that he has offered another Rs.2,000 crore that he expects to get, if he succeeds in his suit against multinational General Electric.

Mallya owes over Rs 9,000 crores to the lenders.

News24 Bureau