NEW DELHI: Fugitive businessman Vijay Mallya stated on Wednesday that the banks have recovered more than double the amount owed in the Kingfisher Airlines case. He contends he is due relief.
Finance Minister Nirmala Sitharaman told Parliament on Tuesday that the banks had recovered Rs 14,131.60 crore from Mallya. This recovery stems from the Kingfisher Airlines debt, which a tribunal assessed at Rs 6,203 crore.
In a series of tweets, Mallya wrote on X, “The Debt Recovery Tribunal adjudged the KFA (Kingfisher Airlines) debt at Rs 6203 crores including Rs 1200 crores of interest. The FM announced in Parliament that through the ED, Banks have recovered Rs 14,131.60 crores from me against the judgement debt of Rs 6203 crores and I am still an economic offender. 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.”
“Whatever I have stated about my liabilities as guarantor of KFA loans is legally verifiable. Yet more than Rs 8000 crores have been recovered from me over and above the judgement debt. 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 particularly for me,” he tweeted.
In another tweet, Mallya said, “Government and my many critics say that I have CBI criminal cases to answer. What criminal cases filed by CBI ? Never borrowed a single rupee, never stole, but as guarantor of KFA debt I am accused by CBI together with many others including IDBI Bank officials of fraudulently obtaining a Rs 900 crore loan from IDBI Bank duly approved by their credit committee and Board. Full loan and interest repaid. After 9 years why no conclusive evidence of fraud and misuse of funds ?”
Sitharaman detailed several cases where the Enforcement Directorate (ED) has recovered assets linked to economic offenses. These include cases involving Nirav Modi, Mehul Choksi, and the National Spot Exchange Ltd scam. She stated the government is pursuing those who have committed economic offenses.
Sitharaman also addressed recent GDP growth figures, calling the slower second-quarter growth a ‘temporary blip.’