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4h ago

Vijay Mallya Demands Itemized Recovery Tally From State-Run Banks, Citing FM’s Rs 14,100 Crore Figure

His public push follows the withdrawal of a UK bid to annul his bankruptcy, leaving trustees free to keep chasing assets for the SBI-led consortium.

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‘Indian banks should be ashamed’: Vijay Mallya demands statement of recoveries made from him
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Overview

  • In new posts on X, Mallya said public sector lenders have yet to provide an accurate account of recoveries despite Finance Minister Nirmala Sitharaman’s December 2024 disclosure of Rs 14,131.60 crore restored.
  • Banks and officials say the Rs 14,100 crore refers to seized or attached assets rather than only cash, with about Rs 10,800 crore realised and roughly Rs 6,900 crore still unpaid due to interest and penalties.
  • The dispute centers on debts linked to defunct Kingfisher Airlines, which the Debt Recovery Tribunal adjudicated at Rs 6,203 crore including interest.
  • Mallya contends enforcement agencies must explain how recoveries exceed twice the adjudicated debt and says he will seek relief if they cannot.
  • He has withdrawn a UK application to annul his 2021 bankruptcy order, allowing the Trustee in Bankruptcy to continue pursuing overseas assets for the SBI-led bank consortium.