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Vijay Mallaya
Vijay Mallya has once again slammed Indian public sector banks, accusing them of not being honest about the money they have recovered from him.
The businessman, who left India in 2016, said the banks “should be ashamed” for not giving a correct account of the ₹14,100 crore that has reportedly been returned to them.
Vijay Mallya slams Indian Banks
In a post on X (formerly Twitter), Mallya said,
“The Indian Public Sector Banks who claim monies from me as a guarantor should be ashamed that they have not yet submitted an accurate statement of account of recoveries made despite the Union Finance Minister clearly stating that ₹14,100 crores have been restored to the very same Banks.”
Mallya, once known as the “King of Good Times,” has been accused of defaulting on loans worth over ₹9,000 crore taken for his now-closed Kingfisher Airlines. He has been living in the UK since 2016 while India continues efforts to bring him back.
His latest post questions why banks still demand money from him despite large recoveries being confirmed by the government. He also claimed that he has made offers to settle his dues but they were turned down.
Finance Minister’s Statement Triggers Vijay Mallya
Mallya’s reaction came after Finance Minister Nirmala Sitharaman informed Parliament that banks had recovered over ₹14,100 crore from the assets of Mallya, Nirav Modi, and Mehul Choksi.
These funds were recovered through the sale of attached assets under the Fugitive Economic Offenders Act.
Despite these recoveries, Mallya said banks have not shared full reports of where the recovered money has gone. “They continue to claim dues and pursue me in various courts,” he wrote.