Vijay Mallya Fights Back: Claims Overrecovery by Indian Authorities

Vijay Mallya, accused of defaulting on KFA loans, alleges Indian banks and the Enforcement Directorate have recovered more than twice the debt he owed. Responding to Finance Minister Nirmala Sitharaman's statement in Parliament, Mallya claims Rs 14,131.6 crore was recovered against KFA's Rs 6,203 crore debt.

Embattled businessman Vijay Mallya has voiced his grievances over the Enforcement Directorate and Indian banks allegedly recovering more than twice the debt he owed.

His statements came after Finance Minister Nirmala Sitharaman announced in Parliament that Rs 14,131.6 crore had been recovered from Mallya's attached assets. The sum reportedly exceeds the KFA debt adjudged at Rs 6,203 crore by the Debt Recovery Tribunal.

Mallya, wanted in India for financial defaults, insists that he plans to pursue legal relief, questioning the legality of such actions against him. Mallya criticized the lack of support from critics who, he argues, fail to challenge 'blatant injustice'.

(With inputs from agencies.)