Vijay Mallya has posted on social media saying that this amount is double the debt decided by the court. file. | Photo credit: Reuters
Criticizing Finance Minister Nirmala Sitharaman’s statement in Parliament that banks had returned Vijay Mallya’s assets worth Rs 14,131.6 crore to public sector banks, the fugitive businessman said the amount was double the court-judged loan and wanted to know how. He was still a financial offender.
“FM announced in Parliament that through ED, banks have recovered ₹ 14,131.60 crore from me against judgment debt of ₹ 6203 crore and I am still a financial offender. Unless ED and banks can legally prove how they have taken more than double the loan. , I am entitled to relief which I will pursue,” Mr Mallya said in a post on X.
Union Minister Sitharaman informed the Lok Sabha on Tuesday that Public Sector Banks (PSBs) have recovered Rs 14,131.6 crore from the sale of fugitive businessman Mallya’s assets. This is part of the government’s ongoing efforts to tackle financial crimes and restore funding to affected institutions.
Mr Mallya fled India in 2016 following allegations of financial irregularities related to the now-defunct Kingfisher Airlines. The Indian government has been seeking his extradition to face the United Kingdom. His assets, seized under the Prevention of Money Laundering Act (PMLA), have been liquidated to recover dues from banks and other creditors.
The finance minister also said that diamond merchant Nirav Modi’s assets worth ₹ 1,052.58 crore were returned to banks after ED action, and businessman Mehul Choksi’s assets worth ₹ 2,565.90 crore were attached for auction.
published – December 19, 2024 at 02:10 pm IST