Vijay Mallya states ‘certified to alleviation’ after FM informs parl Rs 14,000 cr recouped- Economy Junction

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Vijay Mallya states ‘certified to alleviation’ after FM informs parl Rs 14,000 cr recouped- Economy Junction


“I am entitled to relief,” claimed fugitive enterprise particular person Vijay Mallya, declaring that the Indian monetary establishments have really recouped better than double the amount he owed within the Kingfisher Airlines occasion.

His declaration got here inside hours after Finance Minister Nirmala Sitharaman knowledgeable the parliament that public trade monetary establishments (PSBs) recouped Rs 14,131.60 crore from the sale of properties coming fromMallya The amount, which the fugitive enterprise particular person claimed was two occasions better than the monetary obligation settled by courts.

In a set of weblog posts on social networks system X, Mallya claimed that the monetary obligation therapeutic Tribunal had really examined the Kingfisher Airlines monetary obligation at Rs 6,203.

Unfairly recognized an ‘financial transgressor’

Mallya moreover declared that he has really been unjustly recognized an “economic offender” regardless of paying off the finance and keenness fully.

“The Debt Recovery Tribunal adjudged the KFA (Kingfisher Airlines) debt at Rs 6,203 crores including Rs 1,200 crores of interest. The FM (Sitharaman) announced in Parliament that through the ED, Banks have recovered Rs 14,131.60 crores from me against the judgement debt of Rs 6,203 crores and I am still an economic offender.”

‘I am entitled to relief’

Mallya much more stated that except the Enforcement Directorate (ED) and monetary establishments can “legally justify how they have taken more than two times the debt, I am entitled to relief which I will pursue.”

‘More than Rs 8,000 cr recovered over & above judgement debt’

In yet another message, Mallya claimed: “Whatever I have stated about my liabilities as guarantor of KFA loans is legally verifiable. Yet more than Rs 8,000 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? To be seen to support a much maligned me requires guts. Sadly no guts for justice particularly for me,” he much more claimed.

‘9 years & no conclusive evidence of fraud, misuse of funds’

In a varied message, Mallya claimed: “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 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 no conclusive evidence of fraud and misuse of funds?”

What FM Sitharaman knowledgeable Parliament regarding Mallya?

Replying to an argument on the preliminary set of Supplementary Demands for Grants within the Lok Sabha on Tuesday (December 17), Sitharaman claimed that Rs 14,131.60 crore price buildings coming from Mallya have really been introduced again to PSUs.

She much more claimed that the primary enforcement firm has really effectively introduced again buildings price round Rs 22,280 crore– simply the numerous situations consisted of.

Where is Vijay Mallya at the moment?

The Indian federal authorities has really been on the lookout for Mallya’s extradition from the United Kingdom to take care of check. He took off India in 2016 in the midst of Rs 9,000 crore finance default accusations by numerous monetary establishments pertaining to the at the moment out of date Kingfisher Airlines.

Mallya’s properties had been confiscated below the Prevention of Money Laundering Act (PMLA) and had been offered off to recoup expenses owed to monetary establishments and varied different lenders.

With inputs from corporations.





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