Vijay Mallya stated that Indian public sector banks have recovered assets worth ₹14,131.6 crore in his case—more than double the ₹6,203 crore debt awarded by the Debt Recovery Tribunal (DRT). He referred to data from the Finance Ministry’s 2024–25 annual report to support his claim.
Use in UK Bankruptcy Case
Mallya said the reported recovery will be used as evidence in his UK bankruptcy annulment application, questioning what Indian banks would argue in court.
Finance Ministry Report Findings
According to the Finance Ministry report, enforcement action by the Enforcement Directorate (ED) led to the restoration of attached properties worth ₹14,131.6 crore to banks in Mallya’s case.
Ongoing Extradition Efforts
The report also stated that India has sent 44 extradition requests concerning 36 individuals, including Mallya. It noted that UK courts have approved extradition of some high-profile fugitives due to coordinated efforts by Indian law enforcement and foreign missions.
Background of the Case
In 2017, the DRT in Bengaluru ordered banks to recover ₹6,203 crore from Mallya and his companies, with 11.5% annual interest. Mallya left India in 2016 and is wanted for a total default of around ₹9,000 crore linked to loans given to Kingfisher Airlines.
Legal Proceedings in UK
In February 2025, a London court reviewed a case involving a consortium of Indian banks seeking repayment of around GBP 1.05 billion in judgment debt from Mallya’s defunct airline.Past Repayment Offer
Mallya has previously claimed he offered to repay the full amount of public money owed but alleged that his offer was rejected by Indian authorities.
