New Delhi, June 27: Vijay Mallya on Tuesday responded to junior foreign minister M J Akbar’s “years to repay” settlement remark saying that his settlement initiatives date back to the year 2016 and the value of the assets today, in 2018, is far higher than in 2016. Further slamming the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED), Mallya said that the charge sheets specifically “allege criminality with no intention to repay banks”.Also Read - PM KISAN Samman Nidhi Yojana: Modi Govt Takes Big Decision, Issues Guidelines To Reprocess Failed Transactions For Beneficiaries

“MJ Akbar states that I had years to repay. My settlement initiatives date back to 2016. Most importantly value of assets today in 2018 is far higher than in 2016. CBI & ED charge sheets specifically allege criminality with no intention to repay banks,” he said, questioning, “Since 2016 I’ve been making efforts to settle. Now I’ve placed everything before the Hon’Ble Karnataka HC so where is the malafide?” Also Read - Breaking News Highlights: Mamata to Meet Sonia Gandhi, Arvind Kejriwal Tomorrow

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MJ Akbar had on Tuesday said that if “Mallya wanted to repay his bank dues…he had many, many years in which he could have done so” soon after Mallya released his letters to PM Narendra Modi saying that he was tired of relentless pursuit by criminal agencies and banks. He said that he would continue efforts to settle cases with banks and has requested that things should be put in right perspective.

“I have been accused by politicians and the media alike of having stolen and run away with Rs 9,000 crores that was loaned to Kingfisher Airlines (KFA). Some of the lending Banks have also labeled me a wilful defaulter,” said Vijay Mallya in his statement

Mallya asserted that the case was a civil matter alleging that the ED and the CBI had, however, criminalised it despite his intentions to settle the loan defaults.

“The CBI and ED seem determined to frame criminal charges against me on the pretext of non-payment to the banks. The motivation, however, seems to be to secure my presence in India to face charges than to determine if the evidence collected by them demonstrates criminal charges against me or to permit me to sell assets and repay creditors,” he had said.

He also alleged that he has been getting no response despite his offers to settle the loan defaults to the bank, FM Arun Jaitley and PM Narendra Modi without any success. “I wrote letters to both the Prime Minister and the Finance Minister on 15th April 2016 and am making these letters public to put things in the right perspective. No response was received from either of them,” Mallya said in a statement from the UK.

Mallya said that the government was keen on making him “a lightning rod of public anger” and was not serious about the settlement of the defaults. He also alleged that he has been made the “poster boy of bank default“.