Mallya, who arrived in London in March 2016 and was arrested in April 2017, was present in court as his legal team and the Crown Prosecution Service (CPS), acting on India's behalf, reiterated and substantiated points made at earlier hearings on loans from IDBI Bank.
Arun Jaitley was the finance minister in 2016 when Mallya left India.
Before attending the Westminster Magistrates" Court, the former Kingfisher Boss was inundated with many journalist questions and to one of their asks, he said "I left because I had a scheduled meeting in Geneva.
Congress President Rahul Gandhi has not reacted on this startling revelation, but one wonders how he can continue to function as the finance minister.
Rubbishing his claims, Arun Jaitley in his Facebook blog said, "He (Mallya) paced up to catch up with me and while walking uttered a sentence that "I am making an offer of settlement". 'So, the question of his having met me does not arise, ' he clarified.
On being asked how he plans to repay the banks with his assets being frozen, Mallya said that the decision in this regard will have to be taken by the Enforcement Directorate.
Also at the press conference, Congress leader and Rajya Sabha MP PL Punia alleged that he saw Mallya meeting Jaitley in Parliament on March 1, adding that the meeting lasted for about 15 minutes first at a corridor and then at Central Hall.
Jaitley said Mallya accosted him in Parliament, and that he made "an offer of settlement".
Vijay Mallya has run away after looting money from banks and the government had this information.
Terming Mallya's offer to settle overdue loans of more than Rs 9,000 crore to his now-defunct Kingfisher Airlines as "bluff offers", Jaitley said he did not even take the papers the liquor baron was carrying during that brief encounter. "We need proper disclosures, full inquiries on this", he said.
It is known news that Vijay Mallya, is wanted on charges of fraud and money laundering amounting to around Rs. 9,000 crore. "Mr Jaitley did not say anything", Mallya said.
Since his arrest in April past year, Vijay Mallya, has been on bail on an extradition warrant. "It might interest you to know, banks have filed objections in the court on my settlement application".
Sure there is nowhere back for Vijay Mallya, as he looks increasingly likely to be extradited back to India. Judge Emma Arbuthnot said she had seen the video three times and did not direct court officials to show it.
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