Fugitive businessman Vijay Mallya, who is living in the UK, has claimed that Indian banks have already recovered more than twice the amount he was supposed to repay. He said that banks have gained access to his properties worth ₹14,131.6 crore, even though he was ordered to repay ₹6,203 crore by the Debt Recovery Tribunal (DRT).
Mallya made this statement on social media platform X (formerly Twitter), referring to the Indian Finance Ministry’s Annual Report for 2024–25, which mentions how much money was recovered from wilful defaulters like him. He said this information will help him in a court case in the UK, where he is trying to cancel his bankruptcy status.
He wrote, “Finally, against a DRT judgment debt of ₹6,203 crore, admitted recovery of ₹14,131.8 crore, which will be evidence in my UK bankruptcy annulment application. Wonder what banks will say in an English Court.”
What the Finance Ministry Report Says
The Finance Ministry’s annual report confirms that the Enforcement Directorate (ED) helped restore ₹14,131.6 crore worth of Vijay Mallya’s assets to public sector banks. These properties were seized or attached as part of the investigation into financial crimes.
The report also said that the ED has helped in extradition efforts for various fugitive economic offenders (people who run away to avoid legal action), including Mallya and 10 others. So far, India has sent 44 extradition requests to different countries for 36 individuals involved in such financial crimes.
Background on Mallya’s Case
Vijay Mallya is wanted in India for defaulting on loans worth ₹9,000 crore, taken by his now-defunct Kingfisher Airlines from a group of Indian banks led by State Bank of India (SBI).
In 2017, the Debt Recovery Tribunal (DRT) in Bengaluru ordered the SBI-led consortium to start recovering ₹6,203 crore, along with 11.5% annual interest, from Mallya and his companies.
Mallya fled India in March 2016 and has been living in the United Kingdom since then. India has been trying to get him extradited back, and a UK court has approved his extradition, but legal delays have slowed down the process.
Mallya has repeatedly said that he was willing to repay the full public money, but claimed that the banks and the Indian government rejected his offer.
In February 2025, a London court heard another case involving the same loan default. The banks, again led by SBI, argued that Mallya owes them around £1.05 billion (over ₹10,000 crore), and they want the UK court to order repayment.
