Vijay Mallya hits back at FM Nirmala Sitharaman, asks how can I still be an offender, if...?

Hitting back at FM Nirmala Sitharaman's claim of recovering properties worth ₹14,131.6 crore, fugitive liquor baron Vijay Mallya on Wednesday said that he is entitled for relief and the agencies should legally justify how they have taken more than two times the debt.

Responding to FM Sitharaman's claim Mallya said that debt recovery tribunal has adjusted his debt at ₹6203 crore, which also includes ₹1,200 crore interest, but according to her statement, the Enforcement Directorate and banks have recovered  more than two times the debt.

FM Nirmala Sitharaman's statement 

FM Sitharaman on Tuesday apprised the Lok Sabha that the central enforcement agency has successfully restored properties worth around ₹22,280 crores of individuals and companies connected to economic offence cases. Of those restored, the complete attached property worth ₹14,131.6 crores of fugitive businessman Vijay Mallya has been restored to the public sector banks, the minister said in Lok Sabha.

"It is important to recognise that we have not left anybody in economic offences; we are after them. We will ensure that money that has to go to the banks goes back," FM said in the Parliament during the one-hour-long reply.

Vijay Mallya's Argument

In a serries of social media posts on X, questioning his label as an economic offender and demanding relief, Mallya stated “The Debt Recovery Tribunal adjudged the KFA debt at ₹6203 crores including ₹1200 crores of interest. The FM announced in Parliament that through the ED,Banks have recovered ₹14,131.60 crores from me against the judgement debt of ₹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.”

He further added that whatever he has stated about his liabilities as guarantor of KFA loans are legally verifiable. “Yet more than ₹8000 crores have been recovered from me over and above the judgement debt. Will anyone, including those who freely abuse me, stand up and question this blatant injustice? To be seen to support a much maligned me requires guts. Sadly no guts for justice particularly for me.”

On CBI Criminal Cases

On CBI cases, Mallya said that he has been accused of fraudulently obtaining ₹900 crore loan which he repaid along with the  interest, but even after 9 years there is no evidence of fraud ad misuse of funds. 

“Government and my many critics say that I have CBI criminal cases to answer. What criminal cases filed by CBI ? Never borrowed a single rupee, never stole, but as guarantor of KFA debt I am accused by CBI together with many others including IDBI Bank officials of fraudulently obtaining a ₹900 crore loan from IDBI Bank duly approved by their credit committee and Board. Full loan and interest repaid. After 9 years why no conclusive evidence of fraud and misuse of funds?” he said in a post on X.