Vijay Mallya Hits Back At FM Nirmala Sitharaman, Claims Banks Recovered Double The Debt
New Delhi: Fugitive businessman Vijay Mallya who had been in the headlines now claims that banks have recovered more than double the amount he owed in the Kingfisher Airlines case as he raised his concerns on the X platform on Wednesday.
Mallya contends that he is due relief, citing that the Debt Recovery Tribunal had adjudged the Kingfisher Airlines debt at Rs 6,203 crore, including Rs 1,200 crore of interest.
Finance Minister Nirmala Sitharaman stated in Parliament that banks have recovered Rs 14,131.60 crore from Vijay Mallya, which is related to the debt of Kingfisher Airlines. This debt was assessed by a tribunal at Rs 6,203 crore.
Also, read| What Happened With ONOE Bill In The Parliament
Following this, Mallya took to social media to express his discontent, stating that unless the Enforcement Directorate (ED) and banks can legally justify how they have taken more than two times the debt, he is entitled to relief.
The Debt Recovery Tribunal adjudged the KFA debt at Rs 6203 crores including Rs 1200 crores of interest. The FM announced in Parliament that through the ED, Banks have recovered Rs 14,131.60 crores from me against the judgement debt of Rs 6203 crores and I am still economic…
— Vijay Mallya (@TheVijayMallya) December 18, 2024
Mallya’s remarks came after Sitharaman updated the Lok Sabha on the government’s ongoing efforts to address financial crimes.
The Finance Minister highlighted several cases where the ED has recovered assets linked to economic offences, including cases involving Nirav Modi, Mehul Choksi and the National Spot Exchange Ltd scam.
Sitharaman stated that the government is pursuing those who have committed economic offences and the ED has successfully restored assets worth Rs 22,280 crore to victims or rightful claimants.
The Finance Minister also expressed optimism about economic growth, calling the slower second-quarter growth a “temporary blip.”
Vijay Mallya, who remains in the United Kingdom has consistently denied any wrongdoing and challenged the recovery process.
Also, read| Narayan Murthy Buys Rs 50 Crore Worth Flat In Bengaluru’s Kingfisher Towers
In a series of tweets, Mallya also questioned the government’s claim stating that he has never borrowed a single rupee or stolen, but as a guarantor of Kingfisher Airlines debt, he is accused by the CBI of fraudulently obtaining a Rs 900 crore loan from IDBI Bank.
The government and my many critics say that I have CBI criminal cases to answer. What criminal cases are filed by the CBI? Never borrowed a single rupee, never stole, but as guarantor of KFA debt, I am accused by CBI together with many others including IDBI Bank officials of fraudulently…
— Vijay Mallya (@TheVijayMallya) December 18, 2024
Whatever I have stated about my liabilities as a guarantor of KFA loans is legally verifiable. Yet more than Rs 8000 crores have been recovered from me over and above the judgment debt. Will anyone, including those who freely abuse me, stand up and question this blatant injustice…
— Vijay Mallya (@TheVijayMallya) December 18, 2024
