ARJAVA MEDIA:
“Banks have recovered Rs 14,131.60 crores from me against the judgment debt of Rs 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 the relief which I will pursue,” Vijay Mallya tweeted.
The Finance Minister announced in the parliament that the banks recovered 14,131.60 crores from Vijay Mallya. Two days later, Mallya tweeted on X: “The Debt Recovery Tribunal adjudged the KFA debt at Rs 6203 crores including Rs 1200 crores of interest. The FM announced in Parliament that through the ED, banks have recovered Rs 14,131.60 crores from me against the judgment debt of Rs 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 the relief which I will pursue.” The tweet attracted nearly 2.5 million views and over 10 per cent of them liked it.
Mallya could have fought the case by staying in India instead of running away to London and liquidating his assets by himself to repay the loan, interest thereon and penalty for the delay. He evaded the arrest for his fraudulent practices. A decent way of settling his debts would have exonerated him from all his frauds and could have saved him from acquiring the title of “fugitive”. Though he can claim that he has no due to any lender, no lender will lend him anymore fearing a political backlash. He can fight legally and recover the balance, if any after calculating penal interests and liquidation charges.
