Exiled businessman Vijay Mallya on Monday called for an independent, judge-led investigation into what he alleges are major inconsistencies in the government’s and public sector banks’ statements regarding the recovery of dues from him.
In a pointed post on X, the former Kingfisher Airlines promoter accused authorities of “hoodwinking” both him and the public by citing contradictory figures without issuing a clear, consolidated statement of accounts.
Mallya wrote:
“How long will the GOI and PSU Banks hoodwink me and the public. Finance Minister says to Parliament that Rs 14,100 crores recovered from me. Banks say Rs 10,000 crores recovered. What about the difference of Rs 4,000 crores? Now, MOS tells Parliament that I still owe Rs 10,000 crores while Banks claim that I owe Rs 7,000 crores… Why not appoint a Retired Judge to investigate?”
How long will the GOI and PSU Banks hoodwink me and the public. Finance Minister says to Parliament that Rs 14,100 crores recovered from me. Banks say Rs 10,000 crores recovered. What about the difference of Rs 4,000 crores ? Now, MOS tells Parliament that I still owe Rs 10,000…
— Vijay Mallya (@TheVijayMallya) December 1, 2025
As per statement tabled in Parliament by the MOS Finance, total recoveries from me add up to Rs 15094.93 crores which is almost Rs 1,000 crores more than the figure stated by the Finance Minister in Parliament in December 2024. Why no explanation or statement of account ?
— Vijay Mallya (@TheVijayMallya) December 1, 2025
The fugitive businessman further argued that while his total judgment debt stood at Rs 6,203 crore, the government and banks have failed to provide him with a transparent account detailing how much has been recovered, credited, or remains outstanding.
FEO designation and ongoing proceedings
Mallya’s remarks come on the same day the Ministry of Finance stated in the Lok Sabha that 15 individuals, including Vijay Mallya and diamond merchant Nirav Modi, have been officially designated Fugitive Economic Offenders (FEOs) as of October 31, 2025.
Indian agencies have repeatedly asserted that substantial assets connected to Mallya have been seized and liquidated, with proceeds used to offset a portion of the debt owed by the now-defunct Kingfisher Airlines.
Earlier outbursts
This is not the first time Mallya has accused public sector banks of withholding recovery details. Earlier this year, he said banks should be “ashamed” for not sharing complete account statements despite the Finance Ministry confirming that Rs 14,100 crore had been recovered.
Mallya had also indicated he would pause his legal efforts in the United Kingdom until Indian banks provide full clarity.
“I will not pursue legal action in England till the Indian Public Sector Banks come clean,” he had written on X.
