Vijay Mallya, a fugitive entrepreneur, has petitioned the Karnataka High Court to get debt recovery accounts from banks. On Mallya’s behalf, senior counsel Sajan Poovayya made an appearance. Mallya’s lawyer claims that while Rs 14,000 crore has been collected, Rs 6,200 crore was supposed to be reimbursed. According to Mallya’s lawyer, the finance minister told the Lok Sabha about this.

The loan recovery officer claimed that Rs 10,200 crore had been recovered, according to Mallya’s attorney. He said that while the whole loan balance has been paid off, the procedure is still in progress. As a result, a request has been filed to order the banks to provide an account of the loan amount that has been recovered.

The High Court bench, presided over by Justice R. Devadas, issued a notice to banks and debt collection authorities in response to Mallya’s appeal.

The Indian government is attempting to extradite Mallya, who is now residing in London, for alleged debt defaults.

Vijay Mallya had previously said on December 18, 2024, that banks had retrieved Rs 14,131.60 crore from him “against the judgement debt of Rs 6203 crore,” but that he was still “an economic offender.”

In a post on X, he said that he is entitled to relief until the Enforcement Directorate and banks can provide a legitimate explanation for why they have taken on more than double the debt.

“KFA (Kingfisher Airlines) was found to owe Rs 6203 crores, including Rs 1200 crores in interest, by the Debt Recovery Tribunal. The FM said in Parliament that I am still an economic offender even though banks had collected Rs 14,131.60 crores from me via the ED against the judgment amount of Rs 6203 crores. I am entitled to the relief, which I shall seek, unless the ED and the banks can legitimately explain how they have accepted more than double the amount,” Mallya said.

Finance Minister Nirmala Sitharaman enumerated a number of significant incidents in which the Enforcement Directorate has sometimes seized the assets of people and businesses involved in cases involving economic offenses.

In response to the discussion of the First Batch of Supplementary Demands for Grants for 2024–2025, she informed the Lok Sabha on Tuesday night that the central enforcement agency had successfully returned assets valued at around Rs 22,280 crore, excluding only the most significant instances.According to the minister, the whole attached property of fugitive billionaire Vijay Mallya, valued at Rs 14,131.6 crores, has been returned to public sector banks.