Take my money, save Jet Airways: Vijay Mallya urges banks

New Delhi, Mar 26: Fugitive businessman Vijay Mallya blamed banks for letting "India's finest airline" close its operations and said his now-defunct Kingfisher Airlines too could have been bailed out by lenders, similar to what happened with cash-strapped Jet Airways on Monday.

His statement comes a day after the government announced that banks will infuse Rs 1,500 crore to save Jet Airways from debt crisis.

In a series of tweets, Mallya said he has not been recognised for his investments to save Kingfisher and is being criticised for no reason. He also called out the present NDA regime, alleging "double standards".

"I invested over 4000 crores into Kingfisher Airlines to save the Company and its employees. Not recognised and instead slammed in every possible way. The same PSU Banks let India's finest airline with the best employees and connectivity fail ruthlessly. Double standards under NDA," wrote Vijay Mallya on Twitter.

Vijay Mallya asked the PSU banks to take his offer and save the Jet Airways.

"And I repeat once again that I have placed liquid assets before the Hon'ble Karnataka High Court to pay off the PSU Banks and all other creditors. Why do the Banks not take my money. It will help them to save Jet Airways if nothing else," he added.

Mallya, known for his lavish lifestyle, left India in March 2016 owing more than $1 billion after defaulting on loan payments to state-owned banks and allegedly misusing the funds.

The loans from the state-owned IDBI bank were intended to bail out his failed carrier Kingfisher Airlines, whose motto was "Fly the Good Times" but folded in 2012 under huge debts.

Indian authorities last year laid money-laundering charges against the tycoon, who dropped off India's most wealthy list in 2014.

India formally asked for his extradition in February last year. He is currently living near London.