In a four hour long interview with Financial Times, Mallya says that he is more than happy to stay safe in the UK.
Mallya, whose passport was revoked this month, said he wants a reasonable settlement with creditor banks for his defunct airline, but they are not getting any money by taking his passport or arresting him.
"I definitely would like to return to India. Right now, things are flying at me fast and furious. My passport has been revoked. I don't know what the government is going to do next," he said.
Asserting his nationality he said that he remains an Indian patriot who is proud to fly the Indian flag but as the outcry around him continues, he is more than happy to stay safe in the UK and has no plans to leave that country.
"It is important to understand the environment in India today. The electronic media is playing a huge role not just in moulding public opinion, but in inflaming the government to a very large extent," he said.
Have always been in dialogue with banks, says Mallya
Mallya said that he is not guilty of any of these preposterous charges of diverting funds from Kingfisher, buying properties or stuff like that.
When asked about the current Narendra Modi led-government, Mallya himself a member of the Parliament said: "All I can say is the manner in which my passport was first suspended and then revoked was done in an extraordinary haste.
I am perfectly happy with a stable government [with a majority in the lower house]. I will be happy when there is a majority in the upper house too [for the Modi government]."