Banks Recover Over ₹14,000 Crore from Mallya’s Assets
Indian banks have successfully recovered more than ₹14,000 crore from Vijay Mallya’s assets, exceeding the ₹9,000 crore debt he owed following the collapse of Kingfisher Airlines in 2012. The Enforcement Directorate (ED) sold key properties, including Kingfisher House in Mumbai for ₹52.25 crore and Kingfisher Villa in Goa for ₹73 crore, contributing significantly to the total recovery amount.
Mallya Challenges Recovery, Claims Overpayment
Despite the large recoveries, Mallya has approached the courts arguing that the recovered amount surpasses his original debt. The Finance Minister confirmed the total recovered sum stands at ₹14,131.6 crore, a figure that exceeds the outstanding dues.
Significant Stakes and Global Properties
Beyond India, Mallya’s wealth remains substantial. Bank of America holds stakes worth ₹4,367.2 crore in United Breweries Ltd and ₹9.8 crore in United Spirits Ltd, totaling over ₹5,160 crore in 2025. Internationally, Mallya owns prestigious properties including historic homes in London’s Cornwall Terrace, a residence in Hertfordshire, and a villa in Cannes, France.
Lavish Lifestyle Under Scrutiny
Mallya’s lifestyle continues to draw public attention. Residing in London with his partner Pinky Lalwani, he frequently attends high-profile events such as his son’s wedding in 2024. Social media users are divided — some justify his spending, citing the banks’ over-recovery, while others criticize his extravagance amid ongoing legal battles.
Ongoing Legal Proceedings and Extradition Delays
Although British courts approved Mallya’s extradition to India in 2019, legal hurdles have delayed the process. The Indian government persists in its efforts to bring the 69-year-old to justice, highlighting challenges in prosecuting prominent financial offenders.
Implications for Corporate Accountability
Mallya’s case underscores India’s struggle with holding high-profile financial criminals accountable and raises critical questions about international cooperation in financial crime and asset recovery.