Vijay Mallya Asset Restoration: Fugitive liquor businessman Vijay Mallya is as soon as once more within the headlines. He has as soon as once more claimed that the banks of India have already recovered greater than the mortgage fastened towards him. This assertion of Vijay Mallya got here after the details about the restoration made by the ED (Enforcement Directorate) in 2024-25 of the Finance Ministry.
Prabhat Khabar Digital Premium Story how a lot property was confiscated and the way a lot was the arrears?
Vijay Mallya posted on the social media platform ‘X’ and stated,
“As per the order of the Debt Recovery Tribunal (DRT), I had an outstanding of Rs 6,203 crore, but banks have so far recovered Rs 14,131.8 crore. It is also recorded in my UK insolvency cancellation application.”
The Finance Ministry report additionally mentions that the ED has hooked up Mallya’s belongings price Rs 14,131.6 crore to the general public sector banks.
Lastly, towards the DRT resolution mortgage of Rs 6203 crore, recruiting Rs 14,131.8 crore, recruiting Rs 14,131.8 crore, which shall be proof in my UK Insolvency Enlution utility. Surprisingly, what the financial institution will say in an English courtroom. pic.twitter.com/rsmhm4nx2
– Vijay Mallya (@Thevijaymallya) April 6, 2025 Mallya’s extradition case in Britain
In 2016, the Indian authorities began extradition proceedings towards Mallya, who arrived in Britain from India. To this point, extradition has additionally been permitted after a number of hearings within the British courtroom. In keeping with the Finance Ministry report, India has despatched a complete of 44 extradition requests thus far, together with the names of 36 individuals together with Vijay Mallya.
Kingfisher Airways and debt rip-off
Vijay Mallya’s firm Kingfisher Airways was given a mortgage of greater than Rs 9,000 crore, most of which had been declared NPAs. In 2017, Bangalore’s DRT ordered that the banks’ consortium underneath the management of SBI might recuperate Rs 6,203 crore from Vijay Mallya and his firms at an rate of interest of 11.5%.
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Vijay Mallya’s declare and authorities’s response
Vijay Mallya claims that he had provided to pay 100% of ‘Public Cash’, however the authorities and banks turned down it. As soon as once more, a debate may be launched how a lot was actually recovered on this case and the way clear the judicial course of was.
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