Fugitive billionaires Vijay Mallya and Lalit Modi exchanged messages on social media after the Enforcement Directorate (ED) recovered Rs 14,000 crore linked to the Kingfisher Airlines debt.
Lalit Modi, founder of the Indian Premier League, wished Vijay Mallya a happy birthday on platform X, reflecting on their shared experiences of "ups and downs" in life. Mallya responded, "We both have been wronged in a country we tried to contribute to."
In a series of posts, Vijay Mallya criticised the ED’s actions, claiming they recovered Rs 14,131 crore against Kingfisher Airlines’ Rs 6,203 crore debt. "Despite this recovery, I’m still labelled an economic offender. Unless the ED and banks justify taking more than double the debt amount, I will continue to seek legal relief," he stated.
Mallya also questioned the Central Bureau of Investigation's (CBI) allegations against him. He argued that the ₹900 crore loan from IDBI Bank, approved by the bank’s board and credit committee, was fully repaid with interest.
"After nine years, why hasn’t conclusive evidence of fraud or fund misuse been presented?" he asked.
Responding to Mallya’s comments, Lalit Modi offered words of encouragement, saying, "This too shall pass."
Mallya’s statements came shortly after Finance Minister Nirmala Sitharaman announced that the ED had restored assets worth Rs 22,280 crore to victims and rightful claimants as part of the ongoing fight against economic offenders.
She revealed that properties worth Rs 14,131.6 crore, linked to Vijay Mallya, were returned to public sector banks. Additionally, assets worth Rs 1,052.58 crore in the Nirav Modi case and Rs 2,565.90 crore in the Mehul Choksi case have been recovered or are set to be auctioned.
Also Read: Non-bailable warrant against Mallya in loan default case
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