Vijay Mallya Claims Banks Recovered 14k crore His Debt Amid Legal Battle

Fugitive businessman Vijay Mallya has asserted that Indian banks have recovered ₹14,131.6 crore from his assets, which is more than double the ₹6,203 crore adjudicated by the Debt Recovery Tribunal (DRT). Mallya made this claim in a recent post on X (formerly Twitter), referencing the Finance Ministry’s annual report for 2024-25. He stated that this recovery would serve as evidence in his bankruptcy annulment application in the UK.

The Finance Minister, Nirmala Sitharaman, confirmed during a Lok Sabha discussion that properties worth ₹14,131.6 crore linked to Mallya have been restored to public sector banks. She emphasized the government’s commitment to recovering assets from economic offenders, including Mallya and others.

Despite these recoveries, Mallya continues to be classified as an economic offender. He has questioned the Enforcement Directorate’s (ED) methods, claiming that banks and authorities must legally justify recovering more than twice the original debt. Mallya fled to the UK in March 2016 and remains subject to extradition efforts by India over a ₹9,000 crore loan default tied to Kingfisher Airlines.

In his petition to the Karnataka High Court earlier this year, Mallya requested detailed accounts of recovered funds from banks. The court issued notices to banks and loan recovery officers following his plea. Meanwhile, Indian authorities continue their pursuit of other fugitive offenders in coordination with law enforcement agencies abroad.