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State Bank of India  (SBI) has offered to have a one-time settlement of the Kingfisher Airlines loan issue with India's former liquor baron Vijay Mallya. However, the bank would like him to agree that he would repay the outstanding principal amount along with some interest and legal fees.  To this, Mallya has put some conditions which are said to unacceptable to the bank, as said by SBI chairman Arundhati Bhattacharya.  Bhattacharya told a parliamentary panel, set up for scrutinizing amendments to debt recovery laws, that in the past, SBI has aggressively tackled the matter and is now open to reaching one-time settlements, only if he offers to repay the principal along with a reasonable amount of interest.  However, she said that while Mallya had expressed his willingness to have a settlement, he had laid down some of his conditions which were not acceptable to the country's largest bank, which led the consortium of PSBs that had approached the court for an order agains

 Vijay Mallya Resigns from Rajya Sabha!! Independent MP and liquor baron Vijay Mallya, facing a case of loan default of over ₹9,400 crore, today resigned from the Rajya Sabha, a day before Ethics Committee of the Upper House was set to recommend his expulsion. In his resignation letter to Rajya Sabha Chairman Hamid Ansari, he said he does not want his “name and reputation to be further dragged in the mud”. “And since recent events suggest that I will not get a fair trial or justice, I am hereby resigning as a member of the Rajya Sabha with immediate effect,” Mallya said in the letter. He also referred to the letter written to him by the Chairman of the Ethics Committee of Rajya Sabha Karan Singh and said he had replied to Singh.