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India’s ‘King Of Good Times’ Falls On Bad Times And Flees The Country
The 'King Of Good Times' has left behind extensive unpaid loans with some not-so-happy creditors. In fact, his passport was reportedly due to be seized hours before he left.
Vijay Mallya is now believed to be weathering the storm in the British village of Tewin, with a population of 2,000 people. Not the place you'd expect to find a billionaire!
Photo Credit: www.twitter.com
A group of mostly state-run banks asked the Supreme Court to prevent Mallya from leaving the country. But Attorney General Mukul Rohatgi, who appeared in court on behalf of the banks, said that following allegations of financial lapses, Mallya left on March 2nd and stepped down as chair of United Spirits, the Indian arm of Britain’s giant multinational alcoholic beverages company Diageo.
“Agencies and the CBI (Central Bureau of Investigation) have told me he left the country on the second of March,” Rohatgi told the court. “Please ask Mr. Mallya to come back and appear in the supreme court and disclose all his assets.”
Rohatgi also said that the state was merely looking for Mallya to settle his debts, worth more than $1.3 billion, and not looking to take action against him.
Photo Credit: www.economictimes.indiatimes.com
Last month, Mallya announced that he planned to move to Britain to be "closer to his children." In an email statement to the media, he explained that he had no intentions of running away from creditors and felt the media was painting him "as an absconder."
The 2012 collapse of Mallya's Kingfisher Airlines left thousands of workers unemployed and millions of dollars in unpaid bills. Ex-Kingfisher employees recently wrote a letter to Prime Minister Modi seeking help because they're also hounded by income tax notices although the tax default came from the airline's side.
Photo Credit: www.business-standard.com
Mallya is currently on a Twitter rampage defending himself while his assets go on sale. He's been labelled a fugitive and is at the core of media and public outrage in India. He finally broke his silence yesterday to protest his innocence.
“I am an international businessman. I travel to and from India frequently. I did not flee from India and neither am I an absconder. Rubbish,” he said. He also added that as an Indian Member of Parliament, he was fully respected and would comply with the law of the land.
Photo Credit: www.newslaundry.com
Mallya also claimed to have extended many favours to people in the media.
“Let media bosses not forget help, favours, accommodation that I have provided over several years which are documented. Now lies to gain TRP?” he tweeted. “Once a media witch hunt starts, it escalates into a raging fire where truth and facts are burnt to ashes."
Main Image Photo Credit: www.scoopwhoop.com
Nomaan Khan
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After spending some time in a completely different field, Nomaan decided to drop it all and switch to Mohawk College to pursue his longtime interest in the world of Journalism. His experience working in multimedia platforms has helped him develop exceptional skills in thinking on his feet, being ...
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