Vijay Mallya says ‘entitled to aid’ after FM tells parl Rs 14,000 cr recovered – Firstpost
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Vijay Mallya claimed that the Indian banks have recovered greater than double the quantity owed within the Kingfisher Airways case and stated regardless of that he’s labelled as ’financial offender’. The fugitive businessman additionally stated that he’s ’entitled to aid’ after Finance Minister Nirmala Sitharaman instructed the Parliament that PSUs have recovered Rs 14,131.60 crore from sale of belongings belonging to him
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“I’m entitled to aid,” stated fugitive businessman Vijay Mallya, claiming that the Indian banks have recovered greater than double the quantity he owed within the Kingfisher Airways case.
His assertion got here inside hours after Finance Minister Nirmala Sitharaman instructed the parliament that public sector banks (PSBs) recovered Rs 14,131.60 crore from the sale of belongings belonging to Mallya. The quantity, which the fugitive businessman stated was twice greater than the debt adjudicated by courts.
In a collection of posts on social media platform X, Mallya stated that the debt restoration Tribunal had assessed the Kingfisher Airways debt at Rs 6,203.
Unfairly labeled an ’financial offender’
Mallya additionally claimed that he has been unfairly labeled an “financial offender” regardless of repaying the mortgage and curiosity in full.
“The Debt Restoration Tribunal adjudged the KFA (Kingfisher Airways) debt at Rs 6,203 crores together with Rs 1,200 crores of curiosity. The FM (Sitharaman) introduced in Parliament that by way of the ED, Banks have recovered Rs 14,131.60 crores from me towards the judgement debt of Rs 6,203 crores and I’m nonetheless an financial offender.”
‘I’m entitled to aid’
Mallya additional argued that until the Enforcement Directorate (ED) and banks can “legally justify how they’ve taken greater than two occasions the debt, I’m entitled to aid which I’ll pursue.”
The Debt Restoration Tribunal adjudged the KFA debt at Rs 6203 crores together with Rs 1200 crores of curiosity. The FM introduced in Parliament that by way of the ED,Banks have recovered Rs 14,131.60 crores from me towards the judgement debt of Rs 6203 crores and I’m nonetheless an financial…
— Vijay Mallya (@TheVijayMallya) December 18, 2024
‘Greater than Rs 8,000 cr recovered over & above judgement debt’
In one other publish, Mallya stated: “No matter I’ve acknowledged about my liabilities as guarantor of KFA loans is legally verifiable. But greater than Rs 8,000 crores have been recovered from me over and above the judgement debt.”
“Will anybody, together with those that freely abuse me, get up and query this blatant injustice? To be seen to assist a a lot maligned me requires guts. Sadly no guts for justice notably for me,” he additional stated.
No matter I’ve acknowledged about my liabilities as guarantor of KFA loans is legally verifiable. But greater than Rs 8000 crores have been recovered from me over and above the judgement debt. Will anybody, together with those that freely abuse me, get up and query this blatant injustice…
— Vijay Mallya (@TheVijayMallya) December 18, 2024
‘9 years & no conclusive proof of fraud, misuse of funds’
In a unique publish, Mallya stated: “Authorities and my many critics say that I’ve CBI felony instances to reply. What felony instances filed by CBI? By no means borrowed a single rupee, by no means stole, however as guarantor of KFA debt I’m accused by CBI along with many others together with IDBI Financial institution officers of fraudulently acquiring a Rs 900 crore mortgage from IDBI Financial institution duly permitted by their credit score committee and Board. Full mortgage and curiosity repaid. After 9 years why no conclusive proof of fraud and misuse of funds?”
Authorities and my many critics say that I’ve CBI felony instances to reply. What felony instances filed by CBI ? By no means borrowed a single rupee, by no means stole, however as guarantor of KFA debt I’m accused by CBI along with many others together with IDBI Financial institution officers of fraudulently…
— Vijay Mallya (@TheVijayMallya) December 18, 2024
What FM Sitharaman instructed Parliament about Mallya?
Replying to a debate on the primary batch of Supplementary Calls for for Grants within the Lok Sabha on Tuesday (December 17), Sitharaman stated that Rs 14,131.60 crore value properties belonging to Mallya have been restored to PSUs.
She additional stated that the central enforcement company has efficiently restored properties value round Rs 22,280 crore – solely the foremost instances included.
The place is Vijay Mallya now?
The Indian authorities has been searching for Mallya’s extradition from the UK to face trial. He fled India in 2016 amid Rs 9,000 crore mortgage default allegations by a number of banks associated to the now defunct Kingfisher Airways.
Mallya’s belongings have been seized below the Prevention of Cash Laundering Act (PMLA) and have been liquidated to get better dues owed to banks and different collectors.
With inputs from companies.
