Vijay Mallya: I am the King of Bad Times

Embattled tycoon Vijay Mallya admitted his 'Good Times' crown has tipped to the bad side; says he wants a “reasonable settlement” with his creditors

London: Harping on his image as a flamboyant businessman, embattled tycoon Vijay Mallya said, "I was known as the King of Good Times for whatever reason and now of course, indeed the King of Bad Times. But it's past me now to figure out what I should have or should not have done.

Vijay Mallya gave the interview in Mayfair, Central London. Pic/PTIVijay Mallya gave the interview in Mayfair, Central London. Pic/PTI

Speaking to the Financial Times in Mayfair, Central London, Mallya has said he is in a "forced exile" and disclosed no immediate plans to return to India where things are flying at him "fast and furious." Mallya, whose passport was revoked this month, said he wants a "reasonable" settlement with creditor banks for his defunct airline, but they "are not getting any money" by taking his passport or arresting him.

"I definitely would like to return to India. Right now, things are flying at me fast and furious. My passport has been revoked. I don't know what the government is going to do next," he said.

In what FT termed as a four-hour interview, Mallya (60) said he remains an Indian patriot, who is "proud to fly the Indian flag," but as the outcry around him continues, he is more than happy to stay safe in the UK and has no plans to leave that country.

Rs 9,000 cr
The amount Kingfisher Airlines owes to 17 banks

DRT pulls up Diageo

The Debt Recovery Tribunal (DRT) on Friday questioned liquor major Diageo for not yet submitting the specifics of $75 million severance package committed to Vijay Mallya. CR Benakanahalli, the presiding officer of DRT directed Diageo to furnish the details of the severance package agreed with Mallya by May 12, in the hearing on applications filed by the
SBI-led bankers’ consortium.

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