Hours after Christian Michel extradition, Vijay Mallya offers to 'repay 100%' to banks Mallya is currently in United Kingdom on bail on an extradition warrant. His tweets came hours after Christian Michel, the alleged middleman in the AgustaWestland deal was extradited to India by the UAE

Fugitive billionaire Vijay Mallya has on December 5 offered to pay back the entire Principal amount of Rs 5,500 crore that he owed various banks.Mallya, who is being investigated for fraud and money laundering, has been living in the United Kingdom for the past two years.

In a series of tweets, Mallya said, "Airlines struggling financially partly because of high ATF prices. Kingfisher was a fab airline that faced the highest ever crude prices of $140/barrel. Losses mounted and that's where banks' money went. I have offered to repay 100 percent of the principal amount to them. Please take it.