**Vijay Mallya Claims Banks Have Recovered ₹14,000 Crore Against Loans**
Vijay Mallya has reiterated his assertion that banks have successfully recovered approximately ₹14,000 crore against a loan amount of ₹6,203 crore, which includes an interest rate of 11.5%. Despite this claim, Mallya states that he has not received a statement of accounts from the banks, despite sending 15 reminders through his legal representatives and a personal letter to the chairman of the State Bank of India (SBI). He mentioned that the only response he received was a request for a meeting to discuss the matter, which the banks subsequently declined. This lack of communication has led Mallya to seek clarification from the Karnataka High Court.
During a recent podcast hosted by Raj Shamani, Mallya discussed the details surrounding his financial situation. He pointed out that the debt recovery tribunal’s certificate indicates a loan amount of nearly ₹6,203 crore, which encompasses interest accrued at 11.5%. This total debt is associated with four entities, including Kingfisher Airlines, United Breweries, Vijay Mallya himself, and Kingfisher Finvest.
Mallya expressed his confusion regarding the widely reported debt figure of ₹9,000 crore, stating, “I am as perplexed as you are because the banks have not ever submitted a statement to me, which in itself is very strange.” On February 5, 2025, he formally approached the Karnataka High Court to seek clarification on the banks’ loan recovery processes.
In light of Mallya’s claims, he has requested that the banks provide a detailed statement outlining the total amount recovered. Earlier, Finance Minister Nirmala Sitharaman highlighted several significant cases where the Enforcement Directorate has attached properties linked to economic offenses. During a debate on the Supplementary Demands for Grants for 2024-2025, she noted that the government has restored properties worth around ₹22,280 crore, with ₹14,131.6 crore recovered from Mallya being returned to public sector banks.
In summary, Mallya’s ongoing legal battles and claims regarding the recovery of loans continue to draw attention, raising questions about transparency and accountability in the banking sector.
**FAQ**
**What is Vijay Mallya’s current legal situation regarding his loans?**
Vijay Mallya claims that banks have recovered ₹14,000 crore against his loans but has not received a detailed statement from them, prompting him to seek clarification from the Karnataka High Court.