11th Mar 2016 13:32
NEW DELHI (Alliance News) - The former chairman of drinks giant Diageo PLC's United Spirits Ltd subsidiary in India said on Friday he had not fled India and is not a fugitive.
Mallya, who resigned from his role with United Spirits in late February, currently owes significant debts to banks after his Kingfisher Airlines collapsed. He is thought to owe a group of primarily state-owned banks around INR90.0 billion, or about USD1.4 billion, according to Indian Finance Minister Arun Jaitley.
As part of the agreement for the resignation, Diageo will pay Mallya USD75.0 million.
"I am an international businessman. I travel to and from India frequently. I did not flee from India and neither am I an absconder," Vijay Mallya said on Twitter.
"We intend to recover the entire amount," Jaitley told Parliament Thursday after opposition parties criticised the government for allowing Mallya to leave the country.
Mallya had flown abroad just days before the banks appealed to the Supreme Court to restrain him from leaving the country, according to a lawyer representing the banks.
Local media has been rife with speculation on the whereabouts of the flamboyant industrialist, known for his lavish lifestyle, jets, yacht and parties.
The industrialist flew first class on a Jet Airways flight to London on March 2 accompanied by a female companion and seven pieces of luggage, Times of India newspaper reported, citing a senior government official.
"As an Indian MP I fully respect and will comply with the law of the land. Our judicial system is sound and respected. But no trial by media," Mallya, who holds a seat in the upper house of parliament, tweeted.
"Let media bosses not forget help, favours, accommodation that I have provided over several years which are documented. Now lies to gain TRP (television ratings)?" he said in another tweet.
Mallya's departure from Diageo's United Spirits had caused controversy after it was revealed he would be paid USD75.0 million over five-years under the terms of his resignation.
Copyright dpa
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