Vijay Mallya Claims Banks Recovered Twice the Debt He Owed

New Delhi, Apr 7 (PTI) Fugitive liquor baron Vijay Mallya has claimed that Indian banks have got access to his properties worth Rs 14,131.6 crore, more than twice the amount that he owed to public sector banks.

Mallya cited purported reference to the details of restoration done by the Enforcement Directorate against wilful defaulters in the Finance Ministry's annual report 2024-25 to say that banks have already recovered Rs 14,131.8 crore against Rs 6,203 crore awarded by the Debt Recovery Tribunal.

"Finally, against aT judgment debt of Rs 6,203 crore, admitted recovery of Rs 14,131.8 crore, which will be evidence in my UK bankruptcy annulment application. Wonder what banks will say in an English Court," Mallya said in a post on X.

Sharing details of fugitive economic offenders, including Mallya and 10 others, the report said a total of 44 extradition requests have been sent to various countries in respect of 36 individuals.

As per the annual report of the ministry, a complete amount of attached properties worth Rs 14,131.6 crore has been successfully restored to the Public Sector Banks in the case of Vijay Mallaya.

The efforts of the ED have resulted in successful representation before Competent Court abroad in the extradition of various fugitive economic offenders and other accused, the report said.

"In this regard, it is pertinent to mention that the UK Court has approved extradition of few high profile accused persons to India following effective representation of the Directorate in coordination with other LEAs (law enforcement agencies) and Indian mission abroad," it said.

TheT bench of Bengaluru in 2017 had ordered the SBI-led consortium of banks to start the process of recovering Rs 6,203 crore, at an annual interest rate of 11.5 per cent, from embattled Mallya and his companies in the Kingfisher Airlines case.

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 esrtwhile Kingfisher Airlines (KFA) by several 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.

In February, a London Court heard a set of complicated arguments involving a consortium of banks led by the State Bank of India seeking repayment of an estimated judgment debt of around GBP 1.05 billion owed by the 69-year-old businessman's now-defunct Kingfisher Airlines.