Fugitive liquor businessman Vijay Mallya has claimed that Indian banks have assets worth Rs 14,131.6 crore which is more than double the outstanding debt of public sector banks. Mallya, while giving the alleged refinance of the recovery of the Enforcement Directorate against those deliberately defaulted in the annual report of the Ministry of Finance, said that banks have already recovered Rs 14,131.8 crore against the Rs 6,203 crore given by the debt recovery tribunal.
Mallya posted on X
Mallya wrote on the social media site X, as per the decision of the loan recovery tribunal, Rs 14,131.8 crore was recovered against a loan of Rs 6,203 crore. Evidence of this is in the application to cancel my UK (United Kingdom) insolvency. I wonder what the bank will say in the UK court.
Sharing details of Mallya and 10 other fugitive economic criminals in the report, it has been said that a total of 44 extradition requests have been sent to various countries regarding 36 persons. According to the annual report of the Ministry, assets of Rs 14,131.6 crore have been handed over to public sector banks in Mallya’s case.
The report said that the efforts of the Enforcement Directorate (ED) resulted in successful representation before the competent court abroad in extradition of various fugitive economic criminals and other accused. It said, in this regard, it is appropriate to mention that the UK court has approved the extradition of some big accused after the effective representation of the Enforcement Directorate with other law enforcement agencies and the Indian Embassy.
Court gave this order to SBI in 2017
In 2017, a bench of Bangalore, a Bangalore’s bench, ordered the group of banks led by State Banks of India (SBI) to start a process of recovering Rs 6,203 crore from Mallya and his companies at an annual interest rate of Rs 11.5 per cent.
Mallya fled to Britain in March 2016. He is wanted in India in terms of non -repaying loans of Rs 9,000 crore given by several banks to the erstwhile Kingfisher Airlines (KFA). India is demanding Mallya’s extradition from Britain. According to the industrialist, he had earlier offered to repay 100 percent of the public amount, but the banks and the government had rejected his proposal.