Time not right for my return: Vijay Mallya

LONDON,DEVESH K. PANDEY: Business tycoon Vijay Mallya, an accused in the Central Bureau of Investigation (CBI) case involving a Rs. 900-crore loan from IDBI Bank, has said that he does not feel the time is right to return to India.

The ED has summoned the businessman for personal appearance before the probe team on March 18. The agency also plans to take over all the cases of alleged default of dues to the nationalised banks by Mr. Mallya and his firms. Besides, a Hyderabad court also issued a non-bailable warrant for alleged bouncing of a cheque for Rs.50 lakh to GMR (Hyderabad) International Airport Ltd.

‘People need to think rationally’

Stating that he wanted to return, Mr. Mallya in an interview to the Sunday Guardian said he was not sure whether he would get a fair chance to present his side. “I’ve already been branded as criminal. I do not feel the time is right. I feel passions are high. People need to think rationally,” he said.

He said the people need to understand that business, whether large or small, has risks involved. “I’ve seen the highest to the lowest points in this matter. But I hope that I return one day. India has given me everything. It made me Vijay Mallya,” he said, adding that he left for London on March 2 on a personal visit with a friend.

“There was a lookout notice issued against me last year. But I didn’t ‘escape’. Why am I being portrayed as a criminal now? Loan defaults are a business matter. When the banks give out loans, they know the risk involved. They decide, we don’t. Our own business was flourishing, but plummeted suddenly,” he said.

Mr. Mallya said he was being victimised. “And if people are doubting the integrity of bank employees, then why point the finger at me? I’ve always taken things on my chin.

I’ve lived grand and helped people do the same. I’ve never hidden any aspect about my life. I’m one of the most open people. I’m forced to go into hiding and that makes me sick,” he said.

Posted by on March 13, 2016. Filed under Nation. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.