Vijay Mallya News / 14131 crores were recovered from me instead of 6203 crores… Vijay Mallya claimed

Vijay Mallya News: Fugitive businessman Vijay Mallya has reacted sharply to the statement made by Union Finance Minister Nirmala Sitharaman regarding the properties recovered from economic offenders. Mallya accused the Enforcement Directorate (ED) and the banks, claiming that the recovery made against him is irregular and unfair.

Finance Minister's statement

On Tuesday, Finance Minister Nirmala Sitharaman told in the Lok Sabha that the Enforcement Directorate has seized assets worth Rs 22,280 crore from big economic offenders. This includes assets worth Rs 14,131 crore from Vijay Mallya and Rs 1,052 crore from Nirav Modi. He said that the seized properties have been handed over to public sector banks to compensate for the losses suffered by the banks.

Mallya's counterattack

Vijay Mallya issued a statement on social media platform X (earlier Twitter) saying that there are many flaws in the action taken against him. He claimed that the Debt Recovery Tribunal (DRT) had fixed the debt of Kingfisher Airlines (KFA) at Rs 6,203 crore, including interest of Rs 1,200 crore. According to Mallya, ED and banks have recovered almost double from him.

Confidence in legal process

Mallya said that he will seek justice by following the legal process. He also said that unless it is proved that ED and banks have recovered from him wrongly, he should be given relief.

Strict message of Finance Minister

The Finance Minister made it clear in the Lok Sabha that the government is committed to taking strict action against economic offenders. He said that the properties recovered from fugitives like Vijay Mallya and Nirav Modi have been returned to the banks. The government also indicated that in future no economic offender will be given a chance to leave the country.

Strict stand against economic offenders

The strictness of the Enforcement Directorate in cases like Vijay Mallya and Nirav Modi has given the message that action against economic offenders will continue. This move of the government is being considered a big decision in the interest of the public and financial institutions.

Conclusion

Vijay Mallya's reaction has once again brought his case into the limelight. However, the Finance Minister's statement and the government's action have made it clear that no leniency will be given to economic offenders. Now it will be interesting to see what is the outcome of Mallya's claim and the government's stance under the legal process.

The Enforcement Directorate (@dir_ed) has successfully Restored properties worth around Rs 22,280 crores, and I am only talking about the major cases.

I would like to list the number of cases: -

Vijay Mallya - Rs 14,131.6 crores, the complete amount of the attached property… pic.twitter.com/fJRPEyPOnI

— Nirmala Sitharaman Office (@nsitharamanoffc) December 17, 2024

The Debt Recovery Tribunal adjudged the KFA debt at Rs 6203 crores including Rs 1200 crores of interest. The FM announced in Parliament that through the ED,Banks have recovered Rs 14,131.60 crores from me against the judgement debt of Rs 6203 crores and I am still an economic…

— Vijay Mallya (@TheVijayMallya) December 18, 2024