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Vijay Mallya lashes out at Modi govt, PSU banks for 'double standards' after Jet Airways bailout

Fugitive businessman Vijay Mallya in a series of tweets reacted sharply to State Bank of India-led consortium taking management control of the cash-strapped Jet Airways saying that he wished the same was done for Kingfisher as well.


twitter-logo BusinessToday.In        Last Updated: March 26, 2019  | 10:57 IST
Vijay Mallya lashes out at Modi govt, PSU banks for 'double standards' after Jet Airways bailout
A day after the government announcement of Public Sector Banks (PSUs) bailout plan for Jet Airways, businessman Vijay Mallya slammed the PSUs for

A day after the government announcement of Public Sector Banks (PSUs) bailout plan for Jet Airways, businessman Vijay Mallya slammed the PSUs for "double standards" under the Modi regime as the same lenders made his Kingfisher Airlines "fail ruthlessly". Mallya also blamed the government for not doing anything for him.

The embattled liquor baron in a series of tweets reacted sharply to State Bank of India-led consortium taking management control of the cash-strapped Jet Airways saying that he wished the same was done for Kingfisher as well.

"Happy to see that PSU Banks have bailed out Jet Airways saving jobs, connectivity and enterprise," he said.

Also Read: Delhi court orders attachment of Vijay Mallya's properties in Bengaluru

He further 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 UK, rued that his efforts to save Kingfisher Airlines were "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.

Also Read:SEBI seeks amendment in Companies Act after Vijay Mallya case

He also came down heavily at the BJP for meting out differential treatment to Kingfisher and Jet Airways.

"BJP spokesman eloquently read out my letters to PM Manmohan Singh and alleged that PSU Banks under the UPA Government had wrongly supported Kingfisher Airlines," Mallya rued.

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

Also Read:'Looking back, don't want to change a thing,' writes Naresh Goyal in letter to Jet Airways staff

Mallya offered the PSU banks to pay off dues of the Jet Aiways from 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.

Mallya's Kingfisher Airlines had face similar crisis as Jet back in 2012 causing the airline to go bankrupt and resultant losses running into millions, lessors, job losses and massive writedowns by banks.

Also Read: Government empowers PSU banks to request LOCs against fraudsters, wilful defaulters

Also Read: Banks take control of Jet Airways board as Naresh Goyal exits, lenders to infuse Rs 1,500 crore

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