‘Indian debt resolution justice’: Vijay Mallya alleges denial of justice, raises debt resolution questions

LONDON: Alleged fugitive businessman Vijay Mallya has once again claimed that banks have recovered dues from him but justice continued to be denied. In a social media post on X, Mallya referred to a newspaper article which reported that media baron Subhash Chandra would pay Rs 6.5 crore to settle creditor claims of Rs 22,006.57 crore under the IBC.

In his post Mallya wrote, “If True many congratulations to my friend Subhash. Banks and Government have admitted having recovered Rs 14,100 crores from me against a Judgement debt of Rs 6203 crores. Many more borrowers have settled at a fraction. Indian Debt Resolution Justice I presume. No media questions.”

If True many congratulations to my friend Subhash.Banks and Government have admitted having recovered Rs 14,100 crores from me against a Judgement debt of Rs 6203 crores. Many more borrowers have settled at a fraction. Indian Debt Resolution Justice I presume. No media questions. pic.twitter.com/5uwxYSAX8H

— Vijay Mallya (@TheVijayMallya) August 26, 2026

In December 2025, Mallya had questioned the Central government and public sector banks over what he described as inconsistent statements on the amounts recovered from him, and demanded the appointment of a retired judge to investigate the matter. Mallya said the government and banks were presenting conflicting figures in Parliament and to the public.

In a social media post, he stated, “How long will the GOI and PSU Banks hoodwink me and the public? Finance Minister says to Parliament that Rs 14,100 crores recovered from me. Banks say Rs 10,000 crores recovered. What about the difference of Rs 4,000 crores?” he said.

He further pointed out that the Minister of State has now told Parliament that he still owes Rs 10,000 crores, while banks claim he owes Rs 7,000 crores. “No statement of account or credit for amounts recovered,” he said, adding that clarity was needed on the calculations.

Mallya argued that an independent investigation was required to verify the actual figures. “Why not appoint a Retired Judge to investigate and find out the truth, particularly since my judgement debt was Rs 6,203 crores,” he said, calling the situation “a pathetic state of affairs vis-a-vis myself.”

Union Minister of State for Finance Pankaj Chaudhary had then informed the Lok Sabha that a total of 15 individuals have been declared Fugitive Economic Offenders (FEOs) under the Fugitive Economic Offenders Act, 2018 (FEOA) as of October 31, 2025. “Of the 15 offenders, nine are involved in large-scale financial fraud committed against public sector banks. The list includes several high-profile names, such as Vijay Mallya and Nirav Modi, among others, “Chaudhary said.

Pankaj Chaudhary stated that these 15 FEOs collectively caused a principal financial loss of Rs 26,645 crore to banks up to October 31, 2025. In addition, the interest accrued on these loans from the date of becoming NPAs up to October 31, 2025, amounts to another Rs 31,437 crore. Chaudhary informed the House that Rs 19,187 crore has been recovered from these offenders till October 31, 2025. (ANI)