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Fugitive businessman Vijay Mallya has questioned the government’s recovery of ₹14,131.6 crore from his assets, calling the figure “double the adjudged debt” and demanding legal justification. Mallya, who fled India in 2016 amid allegations of financial misconduct tied to Kingfisher Airlines, posted on X claiming he is entitled to relief.
“The Debt Recovery Tribunal adjudged the KFA debt at ₹6,203 crores, including ₹1,200 crores in interest. The FM announced in Parliament that through the ED, banks have recovered ₹14,131.6 crores from me against the judgment debt of ₹6,203 crores.
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 wrote. His assets were seized under the Prevention of Money Laundering Act (PMLA) and liquidated to recover dues owed to public sector banks. The Indian government continues its efforts to extradite him from the United Kingdom to face trial in India.
Mallya’s response came after Finance Minister Nirmala Sitharaman informed the Lok Sabha that public sector banks have recovered ₹14,131.6 crore from the sale of his assets. This recovery is part of a larger drive by the Enforcement Directorate (ED) to restore misappropriated funds tied to economic offences.
Sitharaman detailed recoveries in several high-profile cases, including: The total assets restored in these cases amount to ₹22,280 crore, Sitharaman stated, adding, “We have gone after them. The ED has collected this money and given it back to the banks.” Mallya fled India after allegations of financial irregularities surfaced, particularly regarding loans taken for his defunct Kingfisher Airlines.
His escape marked him as one of India’s most high-profile fugitives in financial crime cases. The Indian government seized Mallya’s assets under the PMLA, arguing that the proceeds of the recoveries should be used to settle his debts to public sector banks. The Finance Minister emphasized that the government has left no stone unturned in pursuing economic offenders, regardless of their flight from India.
Sitharaman also highlighted the impact of the Black Money Act, 2015, which has driven voluntary disclosures of foreign assets, increasing from 60,467 in 2021-22 to 200,000 in 2024-25. She revealed that demands exceeding ₹17,520 crore have been raised under the Act, with 163 prosecutions launched..
