Fugitive businessman Vijay Mallya still has ₹6,997 crore in outstanding dues, despite banks recovering ₹10,815 crore through asset sales, according to the Finance Ministry.
🔴 Key Highlights:
- The total dues, including interest and penalties, stand at ₹17,781 crore as of April 10, 2025.
- Mallya had earlier claimed he repaid ₹14,000 crore, but officials clarified that his figure only accounts for principal, ignoring accrued interest and penalties.
- Kingfisher Airlines’ defaulted loans initially stood at ₹6,848 crore, but accumulated charges pushed the liability higher.
- Banks recovered funds by selling Kingfisher Villa in Goa and pledged shares in United Breweries, among other assets.
- The government continues efforts to extradite Mallya, who fled India in 2016 amid financial fraud allegations.
📢 Finance Ministry’s Statement:
“Any loan comes with interest and penal charges until fully repaid. Mallya’s claim of repayment disregards these legitimate accruals.”
⚠️ Strategic Impact:
- Legal proceedings against Mallya remain ongoing, with Indian authorities pushing for his return from the UK.
- The case highlights banking regulations on loan defaults, reinforcing the importance of financial accountability.
👉 What do you think? Should Mallya be extradited to face charges in India? Drop your thoughts in the comments!
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