Vijay Mallya hits back at FM Nirmala Sitharaman, asks how can I still be an offender, if…? | Company Business News

Hitting back at FM Nirmala Sitharaman’s claim of recovering properties worth ₹14,131.6 crore, fugitive liquor baron Vijay Mallya on Wednesday said that he is entitled for relief and the agencies should legally justify how they have taken more than two times the debt.

Mallya countered that debt recovery tribunal has adjusted his debt at ₹6203 crore, which also includes ₹1,200 crore interest, but according to FM Sitharaman’s statement, the Enforcement Directorate and banks have recovered  more than two times the debt.

FM Nirmala Sitharaman’s statement 

FM Sitharaman on Tuesday apprised the Lok Sabha that the central enforcement agency has successfully restored properties worth around ₹22,280 crores of individuals and companies connected to economic offence cases. Of those restored, the complete attached property worth ₹14,131.6 crores of fugitive businessman Vijay Mallya has been restored to the public sector banks, the minister said in Lok Sabha.

“It is important to recognise that we have not left anybody in economic offences; we are after them. We will ensure that money that has to go to the banks goes back,” FM said in the Parliament during the one-hour-long reply.

The government has not left anybody who committed economic offences, she said quoting these numbers and added that these properties were subsequently handed over to the banks. 

Vijay Mallya’s Post

In a social media post on X, questioning his label as an economic offender and demanding relief, Mallya stated “The Debt Recovery Tribunal adjudged the KFA debt at ₹6203 crores including ₹1200 crores of interest. The FM announced in Parliament that through the ED,Banks have recovered ₹14,131.60 crores from me against the judgement debt of ₹6203 crores and I am still an economic offender. Unless the ED and Banks can legally justify how they have taken more than two times the debt, I am entitled to relief which I will pursue.”