He said in a post on X that unless the Enforcement Directorate and the banks can legally justify how they took more than twice the debt, he is entitled to relief.
“Debt Recovery Tribunal assessed KFA’s (Kingfisher Airlines) debt at Rs 6203 crores including Rs 1200 crores in interest. FM announced in Parliament that banks through ED have recovered Rs 14,131.60 crores from me against the judgment of Rs 620 crores and I am still financial Unless the ED and the banks can justify how they have taken more than twice the debt, I am entitled to relief which I will aspire to,” says Mallya.
Finance Minister Nirmala Sitharaman on Tuesday enumerated several major cases in which the Kronofogdiektoratet has from time to time attached properties of private individuals and companies linked to financial crime cases.
Responding to the debate on additional claims for grants – first round for 2024-2025, she informed the Lok Sabha on Tuesday evening that the central regulator has successfully recovered properties worth around Rs 22,280 crore – only the larger cases included.
Of those restored, the entire attached property worth Rs 14,131.6 crores of fugitive businessman Vijay Mallya has been restored to the public sector banks, the minister said. Nirav Modianother refugee, Rs 1,052.58 crores have been recovered to the public and private sector banks. worth Rs 19.40 crores, Surya Pharmaceuticals Ltd worth Rs 185.13 crores, Nohera Sheikh and others (Heera Group) worth Rs 226 crores, Naidu Amrutesh Reddy and others worth Rs 12.73 crores. Properties worth Rs 2,565.90 crores have been recovered related to Mehul Choksi and others, she said.
Referring to these figures on associated properties and then handing them over to the banks, the finance minister said her government has not left anyone who committed financial crimes.
“It is important to realize that we have not left anyone in financial crimes; we are after them. We will ensure that money that has to go to the banks goes back,” she said in the Lok Sabha during the reply.
Expressing optimism about economic growth, the Union minister said the sluggish GDP growth figures in the second quarter were a “temporary slump”.
