‘I am entitled to relief...’ Vijay Mallya After Govt's 14000 Crore Recovery

Fugitive businessman Vijay Mallya stated on Wednesday that banks have recovered Rs 14,131.60 crore from him, which is more than double the judgement debt of Rs 6,203 crore. He said in a post on X that unless the Enforcement Directorate and banks can legally justify this excess recovery, he is entitled to relief.

Taking to X (formerly Twitter) on Wednesday, Mallya posted: "The Debt Recovery Tribunal adjudged the KFA 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 judgment 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."

 

Mallya Seeks Legal Relief
Mallya has emphasized that he intends to pursue relief unless the ED and banks can provide a legal justification for recovering more than twice the debt.

Finance Minister Highlights 
Mallya’s post comes on the heels of Finance Minister Nirmala Sitharaman ’s announcement in the Lok Sabha during the debate on the Supplementary Demands for Grants for 2024-25. Sitharaman lauded the Directorate of Enforcement (ED) for its role in restoring properties worth Rs 22,280 crore to public and private sector banks.
As per the report by ANI, Sitharaman stated, "It is important to recognise that we have not left anybody in economic offences; we are after them. We will ensure that money that has to go to the banks goes back."

Breakdown of Recovered Assets
The Finance Minister presented a detailed breakdown of recoveries:
Vijay Mallya: Rs 14,131.60 crore in restored assets.
Nirav Modi: Rs 1,052.58 crore in recovered properties.
Mehul Choksi and others: Assets worth Rs 2,565.90 crore.

Additional recoveries were made in scams such as the National Spot Exchange Ltd (NSEL) and entities like the SRS Group, Rose Valley Group, and Heera Group, showcasing the government’s commitment to tackling financial crimes.
 
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