Mumbai, Feb 14 (): Mallya-owned Kingfisher Airlines employees have asked Yuvraj Singh who was bought for Rs 14 crore by Royal Challengers Bangalore (RCB), to not play in the IPL for this team as their wages have not been paid.
RCB is partly owned by Mallya. It has spent Rs. 58.2 crore on day one in retaining and buying players this season. Mallya owes Rs 350 crore to KF employees and has not remitted even the TDS to the IT dept. The employees have asked Yuvi to turn down Mallya’s offer and pointed out that when he was fighting cancer, the entire nation prayed for him.
Mallya launched KF in 2005 and till date it has Rs 7000 crore debts. Mallya also owns a FI car racing team apart from race horses. Technically the IPL team is owned by USL the liquor manufacturing company in which Diageo holds majority shares. Mallya’s lawyers say that KF and USL have nothing to do and that the liquor baron’s holding company UBHL applied to the court to get permission to pay the KF employees wages but it was denied. Meanwhile Mallya has asked IPL governing council to review the Rs 14 crore bidding process of buying Yuvraj. He says that at Rs 10 crore the hammer fell but the process continued and closed at Rs 14 crore. His contention is that RCB ended up paying Rs 4 crore extra and in a bidding process the procedure ends when the hammer falls.
The KF dues are under arbitration and their Mumbai office of the airlines has been taken over by state-owned SBI. The banks are facing a situation where they cannot confiscate properties easily and even if they do so they will recover only one-third of the dues and will have to write off the rest. Mallya had given the picture that he does not have cash. The grounded employees have tried every trick to get the dues and some even committed suicide.