Mallya Challenges Finance Minister's Debt Recovery Claims

Fugitive businessman Vijay Mallya has contested Finance Minister Nirmala Sitharaman's statement in Parliament regarding the recovery of debts from him. Sitharaman announced that public sector banks, through the Enforcement Directorate (ED), have recovered ₹14,131.6 crore from Mallya's assets.

Mallya responded by highlighting that the Debt Recovery Tribunal (DRT) had adjudicated his debt at ₹6,203 crore, including ₹1,200 crore in interest. He questioned the legal basis for recovering more than double this amount and indicated his intention to seek relief.

In Parliament, Sitharaman detailed the government's efforts to recover assets from individuals accused of economic offenses, emphasizing that the government is actively pursuing such cases to ensure that public funds are returned to the banks.

Mallya, who has been residing in the United Kingdom since 2016, is facing charges of financial irregularities and defaulting on loans associated with his defunct Kingfisher Airlines. Indian authorities have been seeking his extradition to face these charges. In his statements, Mallya has consistently denied any wrongdoing, asserting that he has settled his dues and questioning the legal actions against him.