Former liquor baron Vijay Mallya has told the Supreme Court that he is ready to par Rs 4000 crore of the debt on him by September 2016. The business tycoon submitted a proposal in this regard before the apex court on Wednesday.
Responding to the plea, the Supreme Court asked the SBI-led consortium of banks to respond to Mallya's proposal, scheduling the next date of hearing on April 7.
The banks said that they needed time to look into the repayment plan proposed by Mallya and Kingfisher.
Mallya's counsel told the court that the former liquor baron was already negotiating with banks but the issue was being exaggerated by the media. He pleaded before the court that the proposal should be kept in a sealed envelope.
He further said that Mallya had two rounds of video conferencing with the banks.
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