Indian businessman Vijay Mallya has reiterated claims that banks have recovered ₹14,000 crore against a ₹6,203 crore loan. On February 5, 2025, he approached the Karnataka High Court seeking clarity as banks allegedly failed to furnish account statements. His statement comes amid continued scrutiny of high-profile economic offences in India, where ₹14,131.6 crore was recovered from his assets, according to India’s Finance Minister.
Businessman Vijay Mallya, former owner of Kingfisher Airlines and a key figure in India’s most high-profile loan default case, has once again asserted that Indian public sector banks have already recovered nearly ₹14,000 crore from him—over twice the loan amount of ₹6,203 crore—yet have failed to provide any account statements.
Mallya made this statement in a podcast hosted by Raj Shamani and revealed that he approached the Karnataka High Court on February 5, 2025, to seek clarity. He claimed that his legal team had sent 15 reminders to the banks and even wrote to the State Bank of India (SBI) chairman personally but received no response. He alleged that banks had denied a requested meeting to clarify the recovery process.
Vijay Mallya emphasized that the Debt Recovery Tribunal’s certificate confirmed a total debt of ₹6,203 crore, which included an 11.5% interest rate and was owed by four entities—Kingfisher Airlines, United Breweries, Vijay Mallya himself, and Kingfisher Finvest.
I am the one under attack, The figure ₹9,000 crore was never officially stated by banks. I am as perplexed as you are.”
Vijay Mallya
This development aligns with statements made earlier by India’s Finance Minister Nirmala Sitharaman, who noted that the government had restored properties worth ₹22,280 crore related to major economic offence cases. Out of this, property worth ₹14,131.6 crore was linked to Mallya and restored to public sector banks.
Mallya remains under scrutiny for financial misconduct and absconding from India in 2016. The recovery and legal proceedings continue to be of national interest, especially as India increases efforts to clamp down on white-collar crimes involving major defaulters.
