Vijay Mallya offers to pay off principal amount owed to banks and conveys to take the money back
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Liquor tycoon Vijay Mallya told Indian banks to take back 100% of the principal amount owed to his company during his British High Court appeal against an extradition order to India. 64 aged Mallya, is wanted in India on the grounds of fraud and money laundering. As per the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI), the total sum is alleged to be Rs 9,000 crores in unpaid bank loans.
