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Addressing the Lok Sabha, Jaitley said old laws might have to be amended, if needed.

Liquor baron Vijay Mallya was accused in a  loan default case involving a staggering amount for which a case has been initiated against him.

Mallya  fled to United Kingdom in 2016.

Jaitley made it clear that the Government will not spare any individual who flees away from the country following  a defaulter case.

However,  Mallya in a tweet on Friday morning urged the Supreme Court to allow him to negotiate the case of default.

 "Wish the Hon'ble Supreme Court would intervene and put an end to all this by directing Banks and us to negotiate and settle.We are ready," Mallya tweeted.

Jaitley attacked the opposition Congress, saying the present dispensation is  paying the prices of the previous Government's misdeeds.

He  asserted that the present Government did not help Mallya with a single penny.