Vijay Mallya moves Karnataka High Court against debt recovery

Fugitive businessman Vijay Mallya has challenged the debt recovery proceedings against the defunct Kingfisher Airlines in the Karnataka High Court, arguing that authorities have already recovered the principal debt amount multiple times over.

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Mallya’s petition, filed on February 3, was heard briefly on Wednesday by Justice R Devdas. Senior Advocate Sajan Poovayya, representing Mallya, clarified that no interim relief was being sought before the respondents were heard. The court then issued notices to ten banks, a recovery official, and an asset reconstruction company involved in the case.

The petition disputes the ongoing recovery efforts by nationalised and private sector banks, including the State Bank of India and Punjab National Bank. Mallya has requested a stay on further action and demanded a detailed statement of accounts covering all amounts owed by him, United Breweries Holdings, and other related entities.

In December, Mallya claimed via social media that banks had recovered over twice the ₹6,203 crore adjudicated by the Debt Recovery Tribunal, including interest. He also cited Union Finance Minister Nirmala Sitharaman’s statement in Parliament that ₹14,131.6 crore worth of his properties had been restored to public sector banks.

Mallya, who fled to the UK in 2016, remains wanted in India over massive loan defaults linked to Kingfisher Airlines. His extradition has been stalled despite legal proceedings in British courts.