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Vijay Mallya agrees to 'One Time Settlement' with bank, Siddharth Mallya to work as Probationary Officer in SBI

07, Mar 2016 By @jurnoleast

Mumbai: Even as the noose around Vijay Mallya tightens, the liquor baron is making a last ditch effort to wriggle out of the quagmire.

Siddhartha Mallya in the Account Opening section of SBI
Siddhartha Mallya in the Account Opening section of SBI

Recent developments in the case have revealed that Mr. Mallya has agreed to ‘one time settlement’ with Govt. Banks. As per the settlement details, Siddhartha Mallya will work as a Probationary Officer in State Bank of India for indefinite period so as to recover amount that Vijay Mallya has failed to pay.

Speaking to Faking News a senior official from SBI said, “We ran out of all options. It’s not a small amount and this seems like the only way to deal with willful defaulters. As per our recruitment policy, Mr. Siddhartha Mallya will be posted in one of the rural branches and will paid remuneration, which will in turn be used to pay back the loan.”

As the news broke out, Friends, Family and Kingfisher Models reacted with shock. Siddharth Mallya, who is in London at the moment, was speechless.

Sources close to him say that Siddhartha was crestfallen at the prospect of being posted at a rural branch. “Having attended parties all his life and being surrounded by scantily clad women, he couldn’t reconcile with the fact that he’d have to drastically change his lifestyle,” said a Kingfisher model and close friend.

Meanwhile, the Recruitment Dept. at SBI has already initiated a training module for Siddhartha to teach him the basics of banking. “When he was interviewed by us we found out that he didn’t know the difference between cheque book and pass book. I think we will have to work hard on this boy,” said an SBI official, wiping sweat off his forehead.