Vijay Mallya to offer Rs 6,000 crore settlement to banks?

Mumbai: In the latest, Vijay Mallya may offer a revised offer of Rs 6,000-crore to banks, if the media reports are to be believed.

As per reports, the latest offer involves staggered installments through the month of September.

As of now banks are seeking Rs 4,900 crore principal amount in addition to interest from the chariman of beleaguered airline.

Mallya, promoter of long-grounded Kingfisher Airlines, had left India on March 2, presumably for London, days before the Supreme Court heard a plea of clutch of state-owned banks seeking recovery from his group firms.

Mallya and Kingfisher Airlines owed Rs 7,800 crore to a consortium of 17 lenders led by State Bank of India, which had an exposure of over Rs 1,600 crore to the now defunct airline.