Vijay Mallya Accuses Pranab Mukherjee, Says Wanted To Downsize Kingfisher, Was Told To Continue

Vijay Mallya, a popular and controversial figure, has finally given his perspective on leaving India after a bank loan default issue and being accused of fraud and money laundering. The industrialist left India in 2016, and now, nine years later, he has broken his silence on the whole ordeal. The issue of excessive bank loans that led to Vijay Mallya leaving the country started with the downfall of his Kingfisher Airlines. The self-proclaimed 'fugitive' has claimed that he went to the then-Finance Minister, Pranab Mukherjee with a plan to downsize the airlines but was told not to do so. 

Vijay Mallya opened up about Kingfisher Airlines downfall 

Kingfisher Airlines was launched in 2005 and became a symbol of premium and elite services. It was also a huge business venture with a lot of money at stake. However, Vijay Mallya, in a podcast with Raj Shamani, revealed that after the 2008 economic crisis, the airline lost its footing and started faltering. For the unversed, the 2008 economic crisis is known as the Great Recession and resulted in global financial instability. Many businesses and conglomerates were badly hit, and so was Mallya's Kingfisher Airlines. 

Vijay Mallya said that he went to Pranab Mukherjee when financial difficulties worsened 

Vijay Mallya revealed that amidst the financial crisis, he had noticed how the whole economic climate was worsening. So, he claimed that he went to the then-FM, Pranab Mukherjee, to propose downsizing the airlines and shrinking their operations. Vijay Mallya said that he had told the FM that he could not afford to operate during this crucial period and thought it would be better to downsize. In the podcast, he recalled this moment and said:

"I went to Shri Pranab Mukherjee...and said I have a problem. Kingfisher Airlines needs to downsize, cut the number of aircraft, and lay off employees, as I can't afford to operate under these depressed economic circumstances."

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Vijay Mallya alleges that Pranab Mukherjee had said that banks will support him

Vijay Mallya has alleged that former FM, Pranab Mukherjee was the reason behind him taking bank loans. The businessman said that the FM had rejected his plan of downsizing and assured him that the banks would support him. He further stated that he was asked to continue, and that is how everything started. However, despite Pranab Mukherjee's alleged assurance, Kingfisher Airlines kept sinking in its cost. Around 2013, it had not paid the salaries of its employees for over 15 months. Eventually, the whole airline collapsed and was closed down. Vijay Mallya claimed that Pranab Mukherjee said to him:

 “I was told not to downsize. You continue, banks will support you. That is how it all started.”

Vijay Mallya had left India in 2016 

Vijay Mallya had reportedly levied a debt of over Rs. 9000 crores by 2015. He was also accused of money laundering and fraudulent practices. Mallya said that he wanted to be closer to his children and was moving to Britain. During this time, a group of banks approached the Supreme Court of India to stop him from leaving. Several arrest warrants were issued against him, but he had already left the country and, as of now, never stepped inside India. 

What are your thoughts on Vijay Mallya's accusations that he levied on Pranab Mukherjee? 

Also Read: Meet Vijay Mallya's Alleged Third Wife, Pinky Lalwani? Former Air Hostess Is 23 Years Younger To Him

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