Vijay Mallya puts up post on social media saying this amount was more than twice the debt adjudicated by courts. File.
| Photo Credit: Reuters
Taking a swipe at Finance Minister Nirmala Sitharaman for her statement in Parliament that banks recovered Vijay Mallya’s assets worth ₹14,131.6 crore and returned to public sector banks, the fugitive businessman said this amount was more than twice the debt adjudicated by courts and wanted to know how he was still an economic offender.
“The FM announced in Parliament that through the ED,Banks have recovered ₹14,131.60 crore from me against the judgement debt of ₹6203 crore 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,” Mr. Mallya said in a post on X.
Union Minister Sitharaman informed the Lok Sabha on Tuesday that ₹14,131.6 crore has been recovered by public sector banks (PSBs) from the sale of assets belonging to fugitive businessman Mallya. This is part of the government’s ongoing efforts to address financial crimes and restore funds to affected entities.
Mr. Mallya fled India in 2016 amid allegations of financial irregularities related to the now defunct Kingfisher Airlines. The Indian government has been seeking his extradition from the United Kingdom to face trial. His assets, seized under the Prevention of Money Laundering Act (PMLA), have been liquidated to recover dues owed to banks and other creditors.
The Finance Minister also said that diamantaire Nirav Modi’s properties worth ₹1,052.58 crore were restored to banks following ED action, and businessman Mehul Choksi’s properties worth ₹2,565.90 crore attached for auction.
Published – December 19, 2024 02:10 am IST
