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Defiant Mallya prepared to settle debts
Force India team chief Vijay Mallya said he is prepared to settle hundreds of millions owed to banks after the collapse of his firm, in an interview published in the Financial Times. 'But we wish to settle at a reasonable number that we can afford and banks can justify on the basis of settlements done before,' he told the business daily, which gave a figure of £440 million ($645 million). Mallya, a part-owner of the Force India Formula 1 team who used to run a liquor empire, left India on 2 March owing more than $1 billion, and an Indian court last week issued a warrant for his arrest. India also revoked his passport, after he repeatedly failed to appear before investigators looking...
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