Fugitive Indian businessman Vijay Mallya said he has made a settlement offer before the High Court of Karnataka, requesting the lenders to accept the offer. “It is a perfectly tangible, sincere, honest and readily achievable offer,” said Mallya in a Twitter post on Thursday morning.

The offer comes a week after the UK home secretary Sajid Javid approved the extradition of Mallya, who is wanted in India on charges of fraud and money laundering amounting to around Rs 9,000 crore.

“The shoe is on the other foot now. Why don’t the Banks take the money lent to KFA?” added Mallya.

I have made the offer to settle before the Hon’Ble High Court Court of Karnataka. This cannot be dismissed as frivolous. It is a perfectly tangible, sincere, honest and readily achievable offer. The shoe is on the other foot now. Why don’t the Banks take the money lent to KFA ?

— Vijay Mallya (@TheVijayMallya) February 14, 2019

"On 3 February the secretary of state, having carefully considered all relevant matters, signed the order for Vijay Mallya's extradition to India," UK home office said in a statement. "Mallya has 14 days from today (February 3) to apply for leave to appeal," it said.

Mallya, however, said he has initiated appeal process against the order which could lead another series of a legal tussle between the prosecution and the defense.

Mallya further said today that he was appalled at media reports about ED claims that he has hidden his assets. "If there was hidden wealth how could I put approximately 14,000 crores worth of assets openly in front of Court?" tweeted Mallya.

Am appalled to say the least at the media reports on the Enforcement Directorate claims that I hid my wealth ! If there was hidden wealth how could I put approximately 14,000 crores worth of assets openly in front of Court ? Shameful misleading of public opinion but unsurprising.

— Vijay Mallya (@TheVijayMallya) February 14, 2019

The Enforcement Directorate (ED) told a special court on February that it had no objection to the restoration of fugitive businessman Vijay Mallya's properties to a consortium of banks, but the banks should give an undertaking to return the amount claimed by them to the court in the future.

The central probe agency submitted its affidavit in response to an application filed by the consortium of banks, led by the State Bank of India (SBI), seeking restoration of properties of Mallya, who is accused of defaulting on loans worth over Rs 9,000 crore.

According to the consortium, the amount claimed by the banks was around Rs 6,200 crore.

First Published:Feb 14, 2019 7:41 AM IST