Creditors spurn India tycoon Mallya's settlement offer
He owes US$1.4 billion from the collapse of Kingfisher Airlines
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New Delhi
INDIA'S Supreme Court has given Vijay Mallya two weeks to declare all his assets after lenders rejected the tycoon's settlement offer over the US$1.4 billion owing from the collapse of Kingfisher Airlines Ltd.
The court on Thursday gave the former billionaire until April 21 to comply after banks turned down Mr Mallya's proposal to repay as much as US$900 million. The lenders asked the judges to order Mr Mallya to pay back the entire amount due, with interest.
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