Vijay Mallya Challenges Legitimacy of Banks Recovering ₹14,131 Crore, Over Twice His Debt
The fugitive businessman claims he is entitled to relief after public sector banks recover significantly more than his adjudged debt through the Enforcement Directorate.
Overview
- Vijay Mallya asserts that ₹14,131 crore recovered by banks through the Enforcement Directorate exceeds his adjudged debt of ₹6,203 crore, including interest.
- Finance Minister Nirmala Sitharaman announced in Parliament that properties worth ₹14,131 crore linked to Mallya have been restored to public sector banks.
- Mallya disputes being labeled an economic offender and plans to seek legal relief, questioning the recovery of more than double the owed amount.
- The Enforcement Directorate has recovered a total of ₹22,280 crore in major cases, including funds linked to Nirav Modi, Mehul Choksi, and others.
- Mallya received public support from fellow fugitive Lalit Modi, who claimed both had been wronged despite their contributions to the country.