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Mallya makes offer to clear massive debts
Force India owner Vijay Mallya, who is accused of fleeing to London this month owing more than a billion dollars to Indian banks, told India's top court on Wednesday that he would repay over 40 percent of his debts by September, one of his lawyers said. Mallya, who has failed to appear for questioning by authorities, made the offer to the Supreme Court, said the lawyer, C.S. Vaidyanathan. The Press Trust of India news agency reported that the court gave the banks a week to respond to Mallya's proposal. If they decline to accept it, then he will face prosecution. Mallya has failed to appear for questioning by India's Enforcement Directorate, which has been investigating his massive debt...
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