Fugitive businessman Vijay Mallya has claimed that Indian banks have recovered over ₹14,131.6 crore, more than double the ₹6,203 crore debt awarded by the Debt Recovery Tribunal (DRT), according to the Finance Ministry’s annual report for 2024-25.
Taking to X, Mallya cited the report’s data on properties restored to public sector banks by the Enforcement Directorate (ED), claiming the recovery is now part of his bankruptcy annulment application in the UK. “Finally, against a DRT judgment of ₹6,203 crore, admitted recovery of ₹14,131.8 crore… wonder what banks will say in an English Court,” Mallya wrote.
The Finance Ministry report stated that the ED successfully restored assets worth ₹14,131.6 crore to Indian public sector banks in Mallya’s case. The report also detailed that 44 extradition requests have been made for 36 individuals, including Mallya.
In 2017, the Bengaluru bench of the DRT directed a State Bank of India-led consortium to recover ₹6,203 crore plus 11.5% annual interest from Mallya and his defunct Kingfisher Airlines. While the total default amount was pegged at ₹9,000 crore, Mallya fled to the UK in March 2016 and is currently fighting extradition.
The ED noted that its coordination with law enforcement agencies has helped secure UK court approval for extradition in several high-profile cases, though Mallya’s return remains pending.
A UK court earlier this year heard a case filed by SBI-led banks, seeking repayment of GBP 1.05 billion (approximately ₹11,000 crore) from Mallya and Kingfisher Airlines.
