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| Indian businessman Vijay Mallya| Photo: BI |
The government has recovered more than double the amount of defaulted loans from India's fugitive loan defaulter claims Vijay Mallya. But he is still a fugitive financial offender. Along with this, Mallya also claimed that if the Enforcement Directorate (ED) and the bags cannot legally explain the recovery of double the amount, then he too is entitled to a solution.
According to various Indian media reports, Finance Minister Nirmala Sitharaman recently reported in Parliament that the Enforcement Directorate has returned Rs 14,131.6 crore to banks after seizing Vijay Mallya's properties. After that, Vijay Mallya, the founder of the defunct Kingfisher Airlines, raised questions on social media about this.
Mallya fled to the UK in March 2016. Mallya was on the 'wanted' list of various banks in India for failing to repay a loan of Rs 9,000 crore to Kingfisher Airlines. Delhi is also in talks with the country to bring him back to the country. Mallya had claimed that he was ready to repay 100% of the bank dues, but the government and banks did not accept it. India later declared him a 'fugitive financial offender'.
In his post on Exe, Mallya said that his liability as a guarantor for the loan taken by Kingfisher Airlines needs to be verified legally. Despite this, more than Rs 8,000 crore has been taken from him than what was due as per the verdict. If the ED and the banks cannot give a good answer to recover double the money, then he also deserves legal redress and he will take action for that.
Claiming that no one stood by him, Mallya further said, "Will those who have hurled unbridled abuses against him question this shameless injustice? That requires courage. But sadly, no one has the courage to seek justice for him."
Vijay Mallya also said that he has never borrowed a single rupee, nor has he stolen anything. But as a guarantor of a loan taken by Kingfisher Airlines, the CBI has accused him of fraudulently obtaining a loan of Rs 900 crore from IDBI Bank. This allegation has been brought not only against him but against many others. This loan was approved by the bank's credit committee and board. The entire loan, including interest, has been repaid. Even after 9 years, irrefutable evidence of fraud and misuse of funds has not been found.