Consortium of banks reject Mallya's Rs.4000 cr repayment offer

Consortium of banks on Thursday rejected liqour baron Vijay Mallya's Rs 4000 crore  repayment offer after a full consideration.

Banks told the Supreme Court that  proposal was  rejected after full consideration.

Besides, Mallya's modified repayment proposal has also been rejected by the



consortium of banks.  Consortium of banks said  Mallya should personally negotiate with them on proposal and a substantial amount should be deposited in Supreme Court

Subsequently,  the defunct Kingfisher has sought two weeks time from the apex court  for a new proposal.