Mumbai, December 14: Union minister and senior BJP leader, Nitin Gadkari extended a rare support to Vijay Mallya and questioned the rationale behind declaring him 'a wilful defaulter'. Nitin Gadkari said it was unfair to call Vijay Mallya a thief because he had been servicing the loan regularly since last 40 years, and therefore deserves one chance. He also clarified that he had no business dealings with the fugitive liquor baron.

"For 40 years Mallya was regularly paying interest on loans. After entering the aviation sector, he started facing problems, and suddenly he became a thief? If a person repays the interest for 50 years, and if he defaults once, then suddenly everything is fraud? This mindset is not correct," Gadkari said while speaking at Times Networks India Economic Conclave on Thursday. Vijay Mallya Congratulates Sachin Pilot, Jyotiraditya Scindia Over Congress's Wins in Rajasthan and Madhya Pradesh Elections 2018.

Gadkari said Mallya had repaid the loan from the Maharashtra government-owned entity Sicom on time without any default. The union minister said the economic growth of the country will be hit if people start everyone who is facing some financial trouble as a fraudster. He added if someone goes through a downward cycle, then he or she has to be supported. Vijay Mallya's Assets With UK Court: Know The Net Worth of His Yachts, Cars, Watches and Jewellery.

"If a person was repaying debt for 40 years, and due to some issues he is not able to meet his debt obligations later, can you declare him a wilful defaulter?" Gadkari asked. "There are risks in the business, be it banking or insurance, there are ups and downs. But, if the mistakes are bona fide, because of global or internal factors in the economy like a recession, then that person who is facing difficulties must be given support," the minister said.

Likening an election loss to a business failure, he recalled how he lost an election when he was all of 26, but underlined that the loss did not mean that his political career ended. Earlier this week, a London court had ordered Vijay Mallya's extradition, in a major boost to the government's efforts to bring back the fugitive businessman.

Ahead of the extradition hearing, the 62-year-old former boss of the now-defunct Kingfisher Airlines offered to repay the entire principal amount to banks. Gadkari's remarks are likely to give the Congress another opportunity to corner the Modi government for allegedly allowing Mallya to leave the country in 2016.

(The above story first appeared on LatestLY on Dec 14, 2018 09:31 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).