Vijay Mallya Criticises Banks For ‘Double Standards’ After Jet Airways Bailout 
Vijay Mallya, founder of defunct Kingfisher Airlines. (Photographer: Sanjit Das/Bloomberg News)

Vijay Mallya Criticises Banks For ‘Double Standards’ After Jet Airways Bailout 


Embattled liquor baron Vijay Mallya on Tuesday lashed out at public sector banks for "double standards" under the current National Democratic Alliance’s regime for their intervention to bailout Jet Airways (India) Ltd. while the same lenders made his Kingfisher airlines "fail ruthlessly".

In a series of tweets reacting to banks led by State Bank of India taking over management control of troubled Jet Airways, Mallya said, “...Only wish the same was done for Kingfisher.”

"Happy to see that public sector undertakings’ banks have bailed out Jet Airways saving jobs, connectivity and enterprise,” he said. “The same PSU Banks let India's finest airline with the best employees and connectivity fail ruthlessly. Double standards under NDA.”

Mallya, who is facing extradition to India from the U.K., lamented that his efforts to save Kingfisher Airlines was “not recognised and instead slammed in every possible way”. “I invested over Rs 4,000 crores into Kingfisher Airlines to save the company and its employees,” he claimed.

He also lashed out at the Bharatiya Janata Party for differential treatment meted out to Kingfisher and Jet Airways. “BJP spokesman eloquently read out my letters to Prime Minister Manmohan Singh and alleged that PSU banks under the United Progressive Alliance’s government had wrongly supported Kingfisher Airlines,” Mallya said.

He further said, "media decimated me for writing to the current PM. I wonder what has changed now under the NDA Government."

The fugitive businessman reiterated his offer to pay off dues through his assets. "And I repeat once again that I have placed liquid assets before the Hon'ble Karnataka High Court to pay off the PSU banks and all other creditors. Why do the banks not take my money. It will help them to save Jet Airways if nothing else," he said.

Last month Mallya, who is wanted in India on alleged fraud and money laundering charges amounting to an estimated Rs 9,000 crores, had filed his application in the U.K. High Court, seeking permission to appeal against an extradition order signed by the British Home Secretary.

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