Vijay Mallya's 14000 Cr Attached: What Next?

One of India’s most infamous billionaires Vijay Mallya, who had legally fled the country is now in another legal mess. The enforcement directorate has tested assets worth ₹14,000 crore belonging to Vijay Mallya to banks with regard to the cases filed against him.

On this matter, Mallya replied that this is against the usual procedure. Mallya stated, The Debt Recovery Tribunal adjudged the KFA debt at Rs 6203 crores including Rs 1200 crores of interest. The FM announced in Parliament that through the ED,Banks have recovered Rs 14,131.60 crores from me against the judgement debt of Rs 6203 crores and I am still an economic offender.

Unless the ED and Banks can legally justify how they have taken more than two times the debt, I am entitled to relief which I will pursue.

Not stopping there, the once celebrated billionaire took potshots at the Indian government and also the ED itself.

“Whatever I have stated about my liabilities as guarantor of KFA loans is legally verifiable. Yet more than Rs 8000 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 quoted.

Reacting on this saga, Andhra Pradesh BJP president Purandeshwari Daggubati made a fierce argument saying that times are truly changing under the NDA government.

This is the difference between NDA and UPA. It could be Vijay Malya, Neerav Modi, or Choksi; they were all the beneficiaries of the UPA Government. While UPA worked for individuals, NDA worked for the country, ensuring that all these defaulters paid back to the country through the banks.

Thank you Modi ji for bringing in the INSOLVENCY ACT, such that the health of the banks improved and defaulters pay through their nose, Purandeshwari noted.