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India tycoon offers to repay 40b rupees of defunct airline loans

Media reports have traced Mr Mallya to the Hertfordshire village of Tewin, north of London, where he owns a house.

New Delhi

EMBATTLED Indian tycoon Vijay Mallya has proposed to repay 40 billion rupees (S$815 million), less than half of what his defunct Kingfisher Airlines owes to creditor banks who have approached the nation's highest court to recover their dues.

Mr Mallya, who left India on...

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