Vijay Mallya offers to pay 100 percent of 'public money'

The offer from the businessman came days prior to the UK court's verdict on whether Mallya can be extradited.

He tweeted, "I see the quick media narrative about my extradition decision. That is separate and will take its own legal course. The most important point is public money and I am offering to pay 100% back. I humbly request the Banks and Government to take it. If payback refused, WHY ?"

In an earlier tweet, Mallya said: "Politicians and Media are constantly talking loudly about my being a defaulter who has run away with PSU Bank money. All this is false. Why don’t I get fair treatment and the same loud noise about my comprehensive settlement offer before the Karnataka High Court. Sad."

Vijay Mallya, owner of the now-defunct Kingfisher Airlines who now lives in the UK, fled India in March 2016. He owes around Rs. 9,000 crore to banks and faces trial on different counts ranging from defaulting of loans and money syphoning.

On Nov 22, Bombay High Court dismissed a plea filed by Mallya seeking a stay on the Enforcement Directorate's request to declare him a fugitive economic offender and confiscate his properties.

The Enforcement Directorate wants Mallya to be tagged a "fugitive" under the the Fugitive Economic Offenders’ Act, 2018.

Once someone is named a fugitive economic offender, the prosecuting agency has the powers to confiscate properties of the accused.