Bengaluru, (DHNS): Beleaguered business tycoon from Karnataka Vijay Mallya has offered to settle bank dues by selling some of his assets and sought permission from the Karnataka High Court. "UBHL and myself have filed an application before the Karnataka High Court on June 22, 2018, setting out available assets of approximately Rs Rs 13,900 crore. We have requested the Courts permission to allow us to sell these assets under judicial supervision and repay creditors, including the Public Sector Banks such amounts as may be directed and determined by the Court," Mallya said in a media statement.

The total offer is consists of all assets seized by various authorities amounts to Rs 13,960.31 crore.

per the affidavit filed by Mallya in the court, the liquor baron has offered to sell fixed assets (attached by ED) worth Rs 1,699.45 crore, shares (pledged/unpledged and attached by ED) worth Rs 4,978.19 crore, fixed deposits and bank balances (Recovered by DRT) worth Rs 198.08 crore, sale proceeds from sale of KF Villa worth Rs 73.01 crore and amounts available with Karnataka High Court totalling Rs 1,473.99 crore. In addition to this, Mallya is ready to sell and dispose off other assets worth Rs 2,649.45 crore. Also, Mallya's six other entities are willing to sell and dispose off shares worth Rs 2,888.14 crore held in Group companies such as USL, UBL, MHL -- Devi lnvestments Pvt. Ltd., Mallya Pvt Ltd., Kamsco lndustries Pvt. Ltd., Tho Gem lnvestment and Trading Pvt. Ltd, Pharma Trading Company Pvt. Ltd, Vittal lnvestments Pvt. Ltd.

Debt Recovery Tribunal (DRT) has recovered and transferred to ED assets worth Rs 7,528.85 crore. Mallya, who left the country on March 2, 2016, and is residing in London, has sought clearance from the court to sell these assets under "judicial supervision". However, Enforcement Directorate (ED) has already seized these properties of Mallya and the court has asked the law enforcement agency to look into this offering, according to Uday Holla, a lawyer associated with the case.. But, ED, according to Mallya, has objected to any such settlement, in the court.