‘I Am the One Under Attack’: Vijay Mallya Says Banks Recovered ₹14,000 Cr Against ₹6,203 Cr Loan

Businessman Vijay Mallya has once again claimed that Indian banks have recovered nearly ₹14,000 crore from him—more than double the loan amount of ₹6,203 crore originally owed, which included an interest rate of 11.5%.

Speaking on a podcast hosted by Raj Shamani, Mallya alleged that despite 15 reminders from his legal team and a personal letter to the chairman of the State Bank of India (SBI), banks have failed to provide a statement detailing the recovered amounts. According to Mallya, his latest request for a meeting to seek clarification was denied, prompting him to approach the Karnataka High Court on February 5, 2025.

“I am the one under attack,” Mallya said during the podcast. Addressing reports that he owed ₹9,000 crore, he added, “I am as perplexed as you are, because the banks have never submitted a statement to me—which is very strange.”

He also referred to a debt recovery tribunal certificate, which pegged the total outstanding loan at ₹6,203 crore, including interest. The debt was owed jointly by four entities: Kingfisher Airlines, United Breweries, Kingfisher Finvest, and Mallya himself.

Mallya reiterated that the banks have already recovered ₹14,000 crore and urged them to publicly disclose the full amount recovered to date.

Government Recovery Figures

Earlier, Finance Minister Nirmala Sitharaman addressed Parliament during the debate on Supplementary Demands for Grants—First Batch for 2024–25. She stated that public sector banks had recovered assets worth ₹14,131.6 crore linked to Mallya through enforcement actions led by the Enforcement Directorate (ED). Overall, the government has recovered properties valued at around ₹22,280 crore in major economic offence cases.