Mallya to make a new Rs 6000 crore offer to banks

On the cusp of having his passport cancelled, liquor tycoon Vijay Mallya may make a revised Rs 6,000-crore settlement offer to Indian banks looking to recover Rs 9,000 crore in dues stemming from loans to Kingfisher Airlines, reports Economic Times. The new offer is said to involve staggered payments through to September, two people aware of the matter told ET. The banks though want the Rs 4,900 crore principal immediately followed by the interest being repaid in staggered amounts.