‘Indian Banks Should Be Ashamed’: Vijay Mallya Demands Accurate Account of ₹14,100 Crore PSB Recoveries

‘Indian Banks Should Be Ashamed’: The Indian public sector banks should be "ashamed," according to fugitive tycoon Vijay Mallya, who demanded a "accurate statement" of the recovery made from him. Mallya had previously insisted on knowing how the banks arrived at the Rs 14,000 crore figure, claiming that it exceeded the default sum.

“The Indian Public Sector Banks that claim monies from me as a guarantor should be ashamed that they have not yet submitted an accurate statement of account of recoveries made despite the Union Finance Minister clearly stating that Rs 14,100 crores have been restored to the very same Banks,” said Mallya. He is referring to Finance Minister Nirmala Sitharaman’s statement to the Parliament last year when she said that banks recovered Rs 14,131.60 crore from Mallya.

Soon after FM’s statement, Mallya had put up a post on X, stating that the tribunal had adjudged the Kingfisher Airlines debt at Rs 6,203 crore, including Rs 1,200 crore interest, but the FM announced Rs 14,131 crore of recovery. “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,” he had said.

Also Read: Shanaya Kapoor Steals the Spotlight in Manish Malhotra’s Exquisite Silver Lehenga

Mallya then asked if those who “freely abuse” him would stand up and question this injustice.

Meanwhile, Mallya has pulled the plug on an earlier bid to get a UK bankruptcy order annulled. That decision means that the trustee in bankruptcy is still going to be free to go after Mallya's assets in the UK to see what they can recover on behalf of a group of banks (led by the State Bank of India) who are trying to get as much of the debt back from Mallya's old airline Kingfisher.

Also Read: Maharashtra SSC, HSC Exam Dates 2026 Announced: Class 10 & 12 Exams Begin in February

Mallya had pursued a separate annulment application through his lawyers Zaiwalla & Co., arguing that the banks’ debt had already been recovered in India. This application appears to have been discontinued as an Indian writ petition requiring banks to provide information on recoveries has not progressed.

Also Read:Bhumi Pednekar Turns Heads in a Sultry Silver Saree and Backless Blouse