Vijay Mallya is out of India. The king of good times is sure giving the banks like SBI nightmares now. He took loan from more than a dozen banks and the total amount he owes them is more than 9000 crores. But King of good times could care less about the debt!
SBI bank last week went to the court for the arrest of Vijay Mallya. They were sure that he will leave the country if not arrested.
Mallya’s Counsel told the court that his client does not have a lot of unpaid loans. He told them Ambani group had more unpaid loans.
Will these more than a dozen banks ever be paid by Mallya and his company? From the way Mallya is doing things now it seems highly unlikely.
Vijay Mallya, who is known as one of the most flamboyant businessmen of India, recently saw loss in all his business. A lot of people think that his Airline was the reason behind his downfall.
He could not even pay his Kingfisher employees. So how will he give back 9000 crores he owes to more than a dozen banks?
But it’s Vijay Mallya; maybe he will make a great comeback and surprise everyone.