How Vijay Mallya plans to pay pending salaries to former Kingfisher Airlines employees

Fugitive business tycoon Vijay Mallya on Tuesday came out with a five-page letter to Prime Minister Narendra Modi, in which he promised to settle his dues with the Indian banks, and said he was ready to pay up the pending salaries of the Kingfisher Airlines (KFA) employees through the use of interest accruing on deposits of Rs 1,280 crore submitted with the Karnataka High Court since 2013.
Mallya said in a statement from the UK that he had written this letter way back on April 15, 2016 to both Prime Minister Narendra Modi and Finance Minister Arun Jaitley, but to no avail.
Presenting a pending salary payment plan to the eligible erstwhile KFA employees, Mallya has now asked the courts to permit “utilisaiton of the substantial interest accruing on deposits of Rs 1,280 crore made with the Karnataka High Court since 2013”. He also said that he was being “singularly targeted” without any acknowledgement of Kingfisher Airlines employee relations during operations.
He said he sympathised with the Kingfisher Airlines employees who repeatedly complained about non-payment of salaries and consequent hardships. “Under my stewardship, UB Group at its zenith employed more than 66,000 people, most of whom served the group for 20-30 years. If I was an inconsiderate person who didn’t believe in looking after employees, we would not have such a track record for many decades.”
Mallya said that the employees of Kingfisher Airlines were happy and highly motivated, which enabled the company to deliver the best service ever seen in the airline industry in India. “Due to the unfortunate financial demise of Kingfisher Airlines, sentiments turned against us,” he said.
26/06/18 BUsiness Today

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