Priyanka Tiwari
Share
Suspense crime, Digital Desk : Years after his once-glamorous Kingfisher Airlines went bust, leaving a trail of unpaid debts, embattled businessman Vijay Mallya offered his version of events regarding the airline's collapse. In statements he made (reportedly via social media posts), Mallya highlighted a crucial meeting he claims to have had with Shri Pranab Mukherjee, who was India's Finance Minister at the time.
According to Mallya, as global crude oil prices surged dramatically, crippling Kingfisher's primarily low-cost model, he personally approached Mukherjee seeking help. Mallya emphasized that he wasn't asking for a "bailout" or a loan waiver from the government. Instead, he claims he was seeking policy support to navigate the crisis, such as relief on the very high aviation turbine fuel (ATF) taxes in India, which he argued were making operations unsustainable.
Mallya alleged that the then Finance Minister, Pranab Mukherjee, told him to work things out with the banks. This directive, in Mallya's narrative, was a pivotal moment. He implied that a lack of supportive government policy, especially regarding fuel taxes and other operational costs, was a major contributor to Kingfisher Airlines' eventual grounding.
These statements were part of Mallya's broader defense, where he often argued that Kingfisher Airlines was a genuine business venture that fell victim to harsh economic conditions, government policies unfavorable to the aviation sector (compared to bailouts reportedly given to state-run Air India), and aggressive actions by banks. He maintained that he had made every effort to save the airline and had not intentionally defrauded anyone.
Mallya, who is in the UK and has faced extradition proceedings related to charges of fraud and money laundering linked to Kingfisher Airlines' loans, has consistently tried to present his side of the story, portraying himself as a victim of circumstance and an unfair system.
Read More: India and Russia Reaffirm Ties as Leaders Share Car Ride After Airport Greeting
