Vijay Mallya Seeks Relief Over Debt Recovery Claims
Mallya Claims Overpayment,Vows too Seek Relief After India Recovers ₹14,131 Crore
fugitive businessman Vijay Mallya has publicly contested the amount recovered from him by Indian authorities,asserting that he has been forced to pay more than double the original debt owed.
Mallya’s comments follow Finance Minister Nirmala Sitharaman’s announcement in Parliament that over ₹14,130 crore had been recovered from Mallya’s attached assets.
Taking to social media platform X, Mallya stated that the Debt Recovery Tribunal had steadfast the Kingfisher Airlines debt to be ₹6,203 crore, including ₹1,200 crore in interest. He pointed out the discrepancy, writing, “The FM announced in Parliament that through the ED, Banks have recovered ₹14,131.6 crore from me against the judgement debt of ₹6,203 crore and I am still an economic offender.”
Mallya maintains his innocence, claiming he is entitled to relief. “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,” he declared.Sitharaman’s statement on Tuesday revealed that ₹14,131.6 crore worth of Mallya’s properties had been restored to public sector banks.Mallya fled to the UK in March 2016, facing charges related to a ₹9,000 crore loan default by Kingfisher Airlines.
In his social media posts, Mallya emphasized the legal verifiability of his liabilities as a guarantor for Kingfisher Airlines loans. He highlighted that over ₹8,000 crore had been recovered from him beyond the judged debt.
Mallya also challenged his critics, stating, “will anyone, including those who freely abuse me, stand up and question this blatant injustice? To be seen to support a much maligned me requires guts.Sadly no guts for justice notably for me.”
He further questioned the criminal cases filed against him by the CBI, asserting that he had never borrowed a single rupee or stolen funds.Mallya claimed that as a guarantor of Kingfisher Airlines debt, he was accused alongside others, including IDBI Bank officials, of fraudulently obtaining a ₹900 crore loan from IDBI Bank. He pointed out that the loan and interest had been fully repaid.
India has been pursuing Mallya’s extradition from the UK. In the past, Mallya had offered to repay 100% of ”public money” but alleged that his offer was rejected by banks and the government.
Mallya Contests Recovery Amount, Vows to Seek Relief
New Delhi: Fugitive businessman Vijay Mallya has publicly disputed the amount recovered from him by Indian authorities, claiming he has been forced to pay more than twice the original debt owed.
Mallya’s response follows Finance Minister Nirmala Sitharaman’s announcement in Parliament that over ₹14,130 crore had been recovered from Mallya’s attached assets.
Taking to social media platform X, mallya stated that the Debt Recovery Tribunal had fixed the Kingfisher Airlines debt at ₹6,203 crore, including ₹1,200 crore in interest. He highlighted the discrepancy, writing, “The FM announced in Parliament that through the ED, Banks have recovered ₹14,131.6 crore from me against the judgement debt of ₹6,203 crore and I am still an economic offender.”
Mallya maintains his innocence and asserts he is entitled to relief. “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,” he declared.
Sitharaman’s statement on Tuesday revealed that ₹14,131.6 crore worth of Mallya’s properties had been restored to public sector banks. Mallya fled to the UK in March 2016, facing charges related to a ₹9,000 crore loan default by Kingfisher Airlines.
In his social media posts,Mallya emphasized the legal verifiability of his liabilities as a guarantor for Kingfisher Airlines loans. He highlighted that over ₹8,000 crore had been recovered from him beyond the judged debt.
Mallya also challenged his critics, stating, “will anyone, including those who freely abuse me, stand up and question this blatant injustice? To be seen to support a much maligned me requires guts.Sadly no guts for justice notably for me.”
He further questioned the criminal cases filed against him by the CBI, asserting that he had never borrowed a single rupee or stolen funds. Mallya claimed that as a guarantor of Kingfisher Airlines debt, he was accused alongside others, including IDBI Bank officials, of fraudulently obtaining a ₹900 crore loan from IDBI Bank. He pointed out that the loan and interest had been fully repaid.
India has been pursuing Mallya’s extradition from the UK. in the past, Mallya had offered to repay 100% of ”public money” but alleged that his offer was rejected by banks and the government.