'How Can ED, Banks Take More Than Two Times Debt?' Vijay Mallya Day After Sitharaman's LS Speech

Vijay Mallya said the Debt Recovery Tribunal had estimated the debt of Kingfisher Airlines at Rs 6,203 crore. He quoted the finance minister saying that the agencies have recovered Rs 14,131.60 crore.

File photo of Vijay Mallya.

Source : X

Day after Finance Minister Nirmala Sitharaman said that the Enforcement Directorate (ED) has recovered properties worth 14,131.6 crore from Vijay Mallya, the fugitive businessman said he is entitled to relief and asked the government agencies to justify how they have taken more than two times the debt.

Mallya said that the Debt Recovery Tribunal had estimated the debt of Kingfisher Airlines at Rs 6,203 crores. He quoted the finance minister saying that the ED and banks have recovered Rs 14,131.60 crores from him against the debt of Rs 6,203 crores.

"The Debt Recovery Tribunal adjudged the KFA debt at Rs 6203 crores including Rs 1200 crores of interest. The FM announced in Parliament that through the ED,Banks have recovered Rs 14,131.60 crores from me against the judgement debt of Rs 6203 crores and I am still an economic offender. 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," Vijay Mallya said in a post on X.

The Debt Recovery Tribunal adjudged the KFA debt at Rs 6203 crores including Rs 1200 crores of interest. The FM announced in Parliament that through the ED,Banks have recovered Rs 14,131.60 crores from me against the judgement debt of Rs 6203 crores and I am still an economic…

— Vijay Mallya (@TheVijayMallya) December 18, 2024

His remark comes a day after Finance Minister Nirmala Sitharaman in Lok Sabha said that the ED has recovered properties worth Rs 22,280 crore from economic offenders, including restoring 14,131.6 crore worth of properties belonging to fugitive Vijay Mallya to public sector banks. 

Replying to a debate on the first batch of Supplementary Demands for Grants in the Lok Sabha, she further said that properties worth Rs 1,052.58 crore have been restored to PSBs and private banks in Nirav Modi case. 

In the Mehul Choksi case, properties worth Rs 2,565.90 crore have been attached and will be auctioned, she added. 

"ED has successfully restored properties valued at least 22,280 crores. I am only talking about the major cases... In Vijay Mallya case, 14,131.6 crore has been recovered and the complete amount of the attached property has been restored to the public sector banks," Sitharaman said. 

"So it is important to recognize that we have not left anybody (committing) economic offences. We are after them. We will be making sure that money, which has got to go back to banks, will go back," she added.