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On Tuesday, replying to a debate on the first batch of Supplementary Demands for Grants in the Lok Sabha, Sitharaman said Rs 14,131.6 crore worth of properties belonging to Mallya have been restored to public sector banks.

Mallya Calls for Justice Over Excess Debt Recovery and Legal Inconsistencies

On Tuesday, replying to a debate on the first batch of Supplementary Demands for Grants in the Lok Sabha, Sitharaman said Rs 14,131.6 crore worth of properties belonging to Mallya have been restored to public sector banks.

Fugitive businessman Vijay Mallya has said that he will pursue relief for the Enforcement Directorate and banks taking more than two times the debt he owed.
His remarks came following a statement by Finance Minister Nirmala Sitharaman in Parliament about the recovery of over Rs 14,130 crore from his attached assets.
<blockquote class="twitter-tweet">
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 judgement debt of Rs 6203 crores and I am still an economic&hellip;
&mdash; Vijay Mallya (@TheVijayMallya) <a href="https://twitter.com/TheVijayMallya/status/1869405160008540432?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
In a series of posts on social media platform X, Mallya said, &ldquo;The Debt Recovery Tribunal adjudged the KFA (Kingfisher Airlines) debt at Rs 6203 crore including Rs 1200 crore of interest.&rdquo;
He further wrote, &ldquo;The FM announced in Parliament that through the ED, Banks have recovered Rs 14,131.6 crore from me against the judgement debt of Rs 6203 crore and I am still an economic offender.
&ldquo;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.&rdquo;
On Tuesday, replying to a debate on the first batch of Supplementary Demands for Grants in the Lok Sabha, Sitharaman said Rs 14,131.6 crore worth of properties belonging to Mallya have been restored to public sector banks.
Mallya, who fled to the UK in March 2016, is wanted in India over a default of Rs 9,000 crore that was loaned to erstwhile Kingfisher Airlines (KFA) by several banks.
<blockquote class="twitter-tweet">
Whatever I have stated about my liabilities as guarantor of KFA loans is legally verifiable. Yet more than Rs 8000 crores have been recovered from me over and above the judgement debt. Will anyone, including those who freely abuse me, stand up and question this blatant injustice&hellip;
&mdash; Vijay Mallya (@TheVijayMallya) <a href="https://twitter.com/TheVijayMallya/status/1869494701960888398?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
In his post, Mallya said, &ldquo;Whatever I have stated about my liabilities as guarantor of KFA loans is legally verifiable. Yet more than Rs 8000 crores have been recovered from me over and above the judgment debt.&rdquo;
Claiming he has no support from anyone, he said, &ldquo;Will anyone, including those who freely abuse me, stand up and question this blatant injustice? To be seen to support a much maligned me requires guts. Sadly no guts for justice particularly for me.&rdquo;
<blockquote class="twitter-tweet">
Government and my many critics say that I have CBI criminal cases to answer. What criminal cases filed by CBI ? Never borrowed a single rupee, never stole, but as guarantor of KFA debt I am accused by CBI together with many others including IDBI Bank officials of fraudulently&hellip;
&mdash; Vijay Mallya (@TheVijayMallya) <a href="https://twitter.com/TheVijayMallya/status/1869510383234322557?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
Mallya further said, &ldquo;Government and my many critics say that I have CBI criminal cases to answer. What criminal cases were filed by CBI?&rdquo; Claiming he never borrowed a single rupee, never stole, Mallya said, &ldquo;&hellip;but as guarantor of KFA debt I am accused by CBI together with many others including IDBI Bank officials of fraudulently obtaining a Rs 900 crore loan from IDBI Bank duly approved by their credit committee and Board. Full loan and interest repaid. After 9 years why is no conclusive evidence of fraud and misuse of funds?&rdquo;
India has been seeking Mallya&rsquo;s extradition from the UK.
He had in the past offered to repay 100 per cent of &ldquo;public money&rdquo; but accused the banks and government of refusing his offer.&nbsp;
(Except for the headline, this story has not been edited by Editorji News Desk and is published from a syndicated feed.)

Fugitive businessman Vijay Mallya's recent tweet on Dussehra, a bank holiday, prompted humorous responses from internet users

Vijay Mallya shares tweet yet again on bank holiday, internet users react

Fugitive businessman Vijay Mallya's recent tweet on Dussehra, a bank holiday, prompted humorous responses from internet users

Fugitive businessman Vijay Mallya is again in the news but this time for a rather funny reason. He shared a tweet on October 24, on the occasion of Dussehra. Well, yes, it was yet again a bank holiday and that gave fodder to memers.&nbsp;
As internet users came across Mallya's tweet, they didn't want to miss the opportunity and thus they started commenting on it. Several social media users reacted to it by saying that 'no Indian festival is complete without Mallya's wishes'.&nbsp;
Some responded by saying that Mallya is spreading awareness about bank holidays. It is worth noting that Vijay Mallya's post has managed to garner 2 million views, at the time of writing this.
Earlier, Mallya shared a tweet on September 19 wishing people on Ganesh Chaturthi.
Also watch:<a href="https://www.editorji.com/story/vijay-mallya-loses-uk-high-court-appeal-in-extradition-case-1587378978379"> Vijay Mallya loses UK High Court appeal in extradition case</a>

The Supreme Court pronounced a 4 month jail sentence for fugitive billionaire Vijay Mallya in a 2017 contempt case where he was charged for witholding information. Mallya, who is in the United Kingdom since March 2016, was found guilty of contempt of court for transferring $40 million to his children, in a case filed by the State Bank of IndiaThe apex court has asked Mallya to deposit back $40 million with interest within four weeks and if he fails to do so it would lead to attachment of properties. The SC had found Mallya guilty in 2017 on two counts of contempts, first for not disclosing his assets, and second for "flagrant violation" of orders passed by the Karnataka High Court.

Breaking News: Supreme Court awards 4-month jail sentence and imposes fine on fugitive businessman Vijay Mallya 

The Supreme Court pronounced a 4 month jail sentence for fugitive billionaire Vijay Mallya in a 2017 contempt case where he was charged for witholding information. 

Supreme Court awards 4-month jail sentence for Mallya 

SC pronounced verdict against Vijay Mallya in contempt case

The Supreme Court pronounced a 4 month jail sentence for fugitive billionaire Vijay Mallya in a 2017 contempt case where he was charged for witholding information.&nbsp; Mallya, who is in the United Kingdom since March 2016, was found guilty of contempt of court for transferring $40 million to his children, in a case filed by the State Bank of India The apex court has asked Mallya to deposit back $40 million with interest within four weeks and if he fails to do so it would lead to attachment of properties.&nbsp; The SC had found Mallya guilty in 2017 on two counts of contempts, first for not disclosing his assets, and second for "flagrant violation" of orders passed by the Karnataka High Court.

Fugitive businessman Vijay Mallya, who once owned the Indian Premier League (IPL) franchise Royal Challengers Bangalore, shared a photograph with legendary West Indian all-rounder Chris Gayle on his official Twitter handle. 
Vijay Mallya taking the picture to Twitter, wrote, “Great to catch up with my good friend Christopher Henry Gayle @henrygayle, the Universe Boss. Super friendship since I recruited him for RCB. Best acquisition of a player ever.”
The photograph of Vijay Mallya and Chris Gayle has gone viral on Twitter, sparking a meme fest on the micro-blogging site. 
Mallya owes over 9,000 crore to 19 Indian banks, and he is currently fighting an extradition case in the UK. He also served as a Member of Parliament on two occasions, and was the chairperson of United Spirits before it was acquired by Diageo.
 

Fugitive Vijay Mallya meets with Chris Gyale, Twitter explodes with memes

Vijay Mallya posts picture with Gayle, twitter explodes with memes

It was Mallya who brought Chris Gayle to the RCB after the Caribbean went unsold in the IPL 2011 auction.

Fugitive businessman Vijay Mallya, who once owned the Indian Premier League (IPL) franchise Royal Challengers Bangalore, shared a photograph with legendary West Indian all-rounder cricketer Chris Gayle on his official Twitter handle.&nbsp;
Also read/watch| <a title="Did Uber explore selling India unit?" href="https://www.editorji.com/business-news/did-uber-explore-selling-india-unit-1655966484985">Did Uber explore selling India unit?</a>
Vijay Mallya posted the picture on Twitter, wrote, &ldquo;Great to catch up with my good friend Christopher Henry Gayle @henrygayle, the Universe Boss. Super friendship since I recruited him for RCB. Best acquisition of a player ever.&rdquo;
The photograph of Vijay Mallya and Chris Gayle soon went viral on Twitter, sparking retorts and memes on the micro-blogging site. Referring to his caption, a user asked: &ldquo;Did you hire him (Gayle) with the same SBI loan money??&rdquo; and "Aaj bank bandh tha, ki tweet kara." While Kohli fans miffed with the comment&nbsp; started slamming the bad boy billionaire for disrespecting Virat Kohli. The Delhi-born is the only player in history who has played for a single franchise (RCB) since the tournament&rsquo;s inception in 2008 and is also the greatest run-scorer in the history of IPL.
The former Member of Parliament and nicknamed the "King Of Good Times' Vijay Mallya, fled the country after defaulting payment of around Rs 9,000 crore he borrowed from the banks and has been living in the United Kingdom since the last few years.

Rs 18,000 crore - this is the amount of money that has been confiscated in cases involving high-profile fugitive businessmen like Vijay Mallya, Nirav Modi, and Mehul Choksi.
Meanwhile, Rs 67,000 crore is the amount of money that features in cases where courts have passed orders of no coercive action against the accused.
These were statements reportedly made by the Union government in the Supreme Court during a hearing on the powers of the Enforcement Directorate, and the Prevention of Money Laundering Act, or PMLA.
ALSO WATCH | Vijay Mallya to be evicted from his plush London home
The law has reportedly been criticised over a range of issues in court - from stringent bail conditions, to non-revelation of reason for arrest, and failure to furnish FIR during arrest.&nbsp;The other issues reportedly include definition of money laundering, proceeds of crime, and rules concerning evidence.
Countering apprehensions of misuse, the government reportedly submitted in court that since 2002, when PMLA was enacted, only 313 arrests have been made.&nbsp;On behalf of the Centre, solicitor general Tushar Mehta reportedly said that between 2016 and 2021, 2,186 cases have been taken up for investigation by ED in India, while the number is much higher in other countries like the UK, the US, China, Belgium, and Russia.
The government said that sufficient safeguards, and checks and balances are in place.

Rs 18,000 crore in Vijay Mallya, Nirav Modi, Mehul Choksi cases confiscated: Govt in SC amid ED, PMLA hearing

The government said that Rs 67,000 crore is the amount of money that features in cases where courts have passed orders of no coercive action against the accused.

Rs 18,000 crore - this is the amount of money that has been confiscated in cases involving high-profile fugitive businessmen like Vijay Mallya, Nirav Modi, and Mehul Choksi. Meanwhile, Rs 67,000 crore is the amount of money that features in cases where courts have passed orders of no coercive action against the accused. These were statements reportedly made by the Union government in the Supreme Court during a hearing on the powers of the Enforcement Directorate, and the Prevention of Money Laundering Act, or PMLA. The law has reportedly been criticised over a range of issues in court - from stringent bail conditions, to non-revelation of reason for arrest, and failure to furnish FIR during arrest. The other issues reportedly include definition of money laundering, proceeds of crime, and rules concerning evidence. Countering apprehensions of misuse, the government reportedly submitted in court that since 2002, when PMLA was enacted, only 313 arrests have been made. On behalf of the Centre, solicitor general Tushar Mehta reportedly said that between 2016 and 2021, 2,186 cases have been taken up for investigation by ED in India, while the number is much higher in other countries like the UK, the US, China, Belgium, and Russia. The government said that sufficient safeguards, and checks and balances are in place.
&nbsp;
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<div style="margin: 0px; padding: 0px; border: 0px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 12pt; line-height: inherit; font-family: Calibri, Arial, Helvetica, sans-serif; vertical-align: baseline; color: #000000; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">The government said that Rs 67,000 crore is the amount of money that features in cases where courts have passed orders of no coercive action against the accused.</div>

Rs 18,000 crore - this is the amount of money that has been confiscated in cases involving high-profile fugitive businessmen like Vijay Mallya, Nirav Modi, and Mehul Choksi.
Meanwhile, Rs 67,000 crore is the amount of money that features in cases where courts have passed orders of no coercive action against the accused.
These were statements reportedly made by the Union government in the Supreme Court during a hearing on the powers of the Enforcement Directorate, and the Prevention of Money Laundering Act, or PMLA.
ALSO WATCH | <a href="https://www.editorji.com/business-news/vijay-mallya-to-be-evicted-from-his-plush-london-home-1642561946501" target="_blank">Vijay Mallya to be evicted from his plush London home</a>
The law has reportedly been criticised over a range of issues in court - from stringent bail conditions, to non-revelation of reason for arrest, and failure to furnish FIR during arrest.&nbsp;The other issues reportedly include definition of money laundering, proceeds of crime, and rules concerning evidence.
Countering apprehensions of misuse, the government reportedly submitted in court that since 2002, when PMLA was enacted, only 313 arrests have been made.&nbsp;On behalf of the Centre, solicitor general Tushar Mehta reportedly said that between 2016 and 2021, 2,186 cases have been taken up for investigation by ED in India, while the number is much higher in other countries like the UK, the US, China, Belgium, and Russia.
The government said that sufficient safeguards, and checks and balances are in place.

Fugitive Vijay Mallya faces eviction from his plush home in London as a UK court decision sided with Swiss banker UBS and refused to ironically grant a stay for Mallya's ouster from the home. The 'Bad Boy Billionaire's" luxury apartment overlooking Regent's Park in London, described in court as an "extraordinarily valuable property worth many tens of millions of pounds", is currently being occupied by Mallya's 95-year-old mother Lalitha as per reports.Mallya's company had mortgaged the home to UBS as security for 5-year loan of 20.4 million pounds in 2012 and had failed to pay back the loan. Mallya is wanted in India to face charges of fraud and money laundering amounting to an alleged ₹ 9,000 crores related to loans made to his now-defunct Kingfisher Airlines.

Vijay Mallya to be evicted from his plush London home

The 'Bad Boy Billionaire's" luxury apartment overlooking Regent's Park in London, described in court as an "extraordinarily valuable property worth many tens of millions of pounds", is currently being occupied by Mallya's 95-year-old mother Lalitha as per reports.

Mallya's&nbsp;company had mortgaged the home to UBS as security for 5-year loan of 20.4 million pounds

Fugitive&nbsp;<a href="https://www.editorji.com/story/vijay-mallya-s-kingfisher-house-in-mumbai-sold-for-52-crore-1628938412332">Vijay&nbsp;Mallya</a>&nbsp;faces eviction from his plush home in London as a UK court decision sided with Swiss&nbsp;banker UBS&nbsp;and refused to ironically grant a stay for Mallya's ouster from the home.&nbsp;
The 'Bad Boy Billionaire's" luxury apartment overlooking Regent's Park in London, described in court as an "extraordinarily valuable property worth many tens of millions of pounds", is currently being occupied by Mallya's 95-year-old mother Lalitha&nbsp;as per reports. <a href="https://www.editorji.com/story/vijay-mallya-becomes-the-first-fugitive-economic-offender-1546682979188">Vijay Mallya's</a>&nbsp;company had mortgaged the home to UBS as security for 5-year loan of 20.4 million pounds in 2012 and had failed to pay back the loan.&nbsp; Mallya is wanted in India to face charges of fraud and money laundering amounting to an alleged&nbsp;₹&nbsp;9,000 crores related to loans made to his now-defunct <a href="https://www.editorji.com/story/bad-boy-billionaire-bankrupt-but-has-not-lost-his-sense-of-humour-mallya-mocks-banks-on-twitter-1627619149789">Kingfisher Airlines</a>.
Also Read |&nbsp;<a href="https://www.editorji.com/story/win-for-indian-banks-led-by-sbi-uk-high-court-declares-vijay-mallya-bankrupt-1627321752287">UK High Court declares Vijay Mallya bankrupt, SBI and other banks can now takeover assets!</a>

vijay mallya

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