Fugitive businessman Vijay Mallya has stirred fresh controversy by claiming that Indian banks have recovered ₹14,131.6 crore from him — more than double his adjudicated debt of ₹6,203 crore, including interest, as ruled by the Debt Recovery Tribunal (DRT).
This statement came after Finance Minister Nirmala Sitharaman revealed in Parliament that the Enforcement Directorate (ED) facilitated the return of ₹14,131.6 crore from Mallya’s assets to public sector banks.
Responding on X (formerly Twitter), Mallya expressed his frustration: “The DRT adjudged the KFA debt at ₹6,203 crores, including ₹1,200 crores of interest. The FM announced in Parliament that banks recovered ₹14,131.6 crores from me, yet I’m still labeled an economic offender. Unless the ED and banks can justify taking more than double the debt, I am entitled to relief, which I will pursue.”
Mallya, who fled to the United Kingdom in 2016 amid accusations of fraud and money laundering related to his now-defunct Kingfisher Airlines, remains a key target for Indian authorities who continue to seek his extradition.
His claims of excess recovery have reignited debates over financial misconduct cases and the treatment of high-profile economic offenders. The saga highlights the complexities of asset recovery and Mallya’s ongoing legal battles.
