Vijay Mallya has again claimed that the banks have recovered almost ₹14,000 crore against the loan of ₹6,203 crore, including an interest rate of 11.5%.
Mallya made a disclosure that although his legal team had sent him reminders as many as 15 times and he had even written to the SBI chairman personally, the banks never gave him the statement of accounts.
When he finally got a response to his last letter suggesting a meeting to clarify, which the banks refused, Mallya was left with no choice but to approach the Karnataka High Court for relief. These were said in a podcast by Raj Shamani.
The outstanding loan of about ₹6,203 crore, including the 11.5% interest, is the amount written on the recovery certificate from the debt recovery tribunal, as per Mallya. Four entities are covered under the total debt: Kingfisher Finvest, Vijay Mallya, United Breweries, and Kingfisher Airlines.
"I am the one who is attacked," said Mallya. Referring to the widely reported figure of ₹9,000 crore as his debt, he went on to say, "I am as baffled as you are because the banks never gave me a detailed statement, which is not very common."
Mallya, on February 5, 2025, moved a petition in the Karnataka High Court asking for clarity on the loan recovery process conducted by the banks, as per ANI updates.
While reiterating that the banks have already recovered ₹14,000 crore, Mallya has asked for a formal statement specifying the total amount recovered.
In a connected development, Finance Minister Nirmala Sitharaman recently pointed to some high-profile instances where the Enforcement Directorate confiscated assets related to economic crimes.
Addressing the debate on the Supplementary Demands for Grants—First Batch for 2024-2025, she revealed that properties worth about ₹22,280 crore have been recovered by the government, with a sharp focus on key cases. Significantly, ₹14,131.6 crore of assets recovered from Vijay Mallya have been recovered and returned to public sector banks.
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