Vijay Mallya claims has paid double his debt, now ‘entitled to relief’

Fugitive businessman Vijay Mallya has said that he will pursue relief for the Enforcement Directorate (ED) and banks taking more than two times the debt he owed. His remarks came following a statement by Finance Minister Nirmala Sitharaman in Parliament about recovery of over Rs 14,130 crore from his attached assets. Mallya, who fled to the UK in March 2016, is wanted in India over a default of Rs 9,000 crore that was loaned to erstwhile Kingfisher Airlines (KFA) by several banks.

In a series of posts on social media platform X, Mallya said, "The Debt Recovery Tribunal adjudged the KFA (Kingfisher Airlines) debt at Rs 6203 crore including Rs 1200 crore of interest." He further wrote, "The FM announced in Parliament that through the ED,Banks have recovered Rs 14,131.6 crore from me against the judgement debt of Rs 6203 crore and I am still an economic offender.

"Unless the ED and Banks can legally justify how they have taken more than two times the debt, I am entitled to relief which I will pursue." On Tuesday, replying to a debate on the first batch of Supplementary Demands for Grants in the Lok Sabha, Sitharaman said Rs 14,131.6 crore worth properties belonging to Mallya have been restored to public sector banks. India has been seeking Mallya's extradition from the UK. He had in the past offered to repay 100 per cent of "public money" but accused the banks and government of refusing his offer.