Vijay Mallya vs Government: Conflicting Recovery Claims Spark Calls For Judicial Investigation
Fugitive economic offender Vijay Mallya has raised concerns over conflicting statements from the Central government and public sector banks regarding the amounts allegedly recovered from him. Claiming inconsistencies in official numbers, Mallya has urged the government to appoint a retired judge to conduct an independent investigation.
In a recent social media post, he highlighted discrepancies between figures presented in Parliament and those reported by banks. “Finance Minister says Rs 14,100 crore recovered from me, while banks say Rs 10,000 crore. What about the difference of Rs 4,000 crore?” Mallya questioned. He also noted that the Minister of State stated he owes Rs 10,000 crore, while banks claim Rs 7,000 crore remains unpaid. Mallya emphasized that no clear statements of account or credits for amounts recovered have been provided, calling for transparency in calculations.
Union Minister of State for Finance Pankaj Chaudhary informed the Lok Sabha that, as of October 31, 2025, a total of 15 individuals have been declared Fugitive Economic Offenders (FEOs) under the Fugitive Economic Offenders Act, 2018 (FEOA). This information came in response to an unstarred question by Congress MP Murari Lal Meena regarding the names of offenders, the losses caused to public sector banks, and the settlements made.
Chaudhary stated that nine of the 15 FEOs were involved in large-scale financial frauds against public sector banks, including high-profile names such as Vijay Mallya and Nirav Modi. Collectively, these offenders caused a principal financial loss of Rs 26,645 crore, with additional interest accrued amounting to Rs 31,437 crore up to October 31, 2025. Out of this, Rs 19,187 crore has reportedly been recovered.
The 15 declared FEOs include Vijay Mallya, Nirav Modi, Nitin J. Sandesara, Chetan J. Sandesara, Dipti C. Sandesara, Sudharshan Venkatraman, Ramanujam Sesharathnam, Pushpesh Kumar Baid, and Hitesh Kumar Narendrabhai Patel.
When asked about government measures to prevent such offenders from leaving India in the future, either through watchlists or legal restrictions, Pankaj Chaudhary clarified that no specific policy is currently being formulated. Meanwhile, Mallya continues to press for a judicial review to clarify recovery figures and ensure accountability in the handling of fugitive economic cases.
(This news has been syndicated from ANI, edited just clarity)
Aishwarya is a journalism graduate with over three years of experience thriving in the buzzing corporate media world. She’s got a knack for decoding business news, tracking the twists and turns of the stock market, covering the masala of the entertainment world, and sometimes her stories come with just the right sprinkle of political commentary. She has worked with several organizations, interned at ZEE and gained professional skills at TV9 and News24, And now is learning and writing at NewsX, she’s no stranger to the newsroom hustle. Her storytelling style is fast-paced, creative, and perfectly tailored to connect with both the platform and its audience. Moto: Approaching every story from the reader’s point of view, backing up her insights with solid facts.
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