Vijay Mallya claims Indian banks recovered double the adjudged debt from his assets, questions continued legal action and slams the “chor” label in a rare public defense of his legacy.
BY PC Bureau
June 6, 2025
In a rare and revealing public appearance, fugitive Indian businessman Vijay Mallya—once hailed as the “King of Good Times”—spoke candidly about his rise, fall, and future in a nearly four-hour-long podcast with popular Indian YouTuber and entrepreneur Raj Shamani, released on Thursday, June 5. Widely shared and intensely discussed online, the episode offered Mallya’s most extensive public account in nearly a decade, covering the collapse of Kingfisher Airlines, his ongoing legal battles, and whether he might ever return to India.
The Rise and Fall of Kingfisher Airlines
Mallya, former chairman of United Breweries and founder of Kingfisher Airlines, opened up about the airline’s spectacular journey—from its luxurious beginnings in 2005 to its collapse by 2012. Once a symbol of aspirational Indian air travel, Kingfisher Airlines folded under a mountain of debt, employee unrest, and regulatory hurdles. At its peak, the airline boasted elite in-flight services and star-studded branding, but it eventually left behind thousands of unpaid staff and debts exceeding ₹9,000 crore to a consortium of Indian banks.
“I am deeply sorry for what happened to them,” Mallya said, referring to former Kingfisher employees. However, he resisted calls for a blanket apology, arguing that he had injected ₹3,000 crore of personal funds to save the airline. “Apologetic? What do I apologise for? After putting ₹3,000 crore of my own money into the business, I should apologise?” he said, framing his financial involvement as evidence of good intent. Mallya attributed the airline’s failure to systemic issues—soaring fuel prices, cutthroat competition, and bureaucratic restrictions that blocked access to employee salaries.
For those who are interested, I have spoken for the first time in nine years on this podcast.I want to say sorry to employees of Kingfisher Airlines and also to set the record straight with facts and the truth. https://t.co/aiAsnI68ie
— Vijay Mallya (@TheVijayMallya) June 5, 2025
The “Fugitive” Tag and the “Thief” Label
Mallya, who left India in March 2016 amidst allegations of fraud and money laundering, was declared a fugitive economic offender and remains in the UK. He faces charges tied to loan defaults exceeding ₹9,000 crore and is the subject of an ongoing extradition battle.
In the podcast, he accepted the term “fugitive” but bristled at being labeled a “chor” (thief). “I question being called a thief,” he said firmly, denying any intent to defraud lenders or the Indian public. He argued that his actions have been misrepresented and that the media and political discourse painted an overly simplistic and damaging narrative.
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Debt, Recovery, and the Question of Justice
Mallya also spoke at length about his legal troubles, notably referencing the London High Court’s April 2025 decision that upheld his bankruptcy in relation to a ₹11,101 crore debt to Indian banks. However, he reiterated a defense raised in court: that Indian authorities had already recovered more than double the adjudicated amount.
— Vijay Mallya (@TheVijayMallya) June 5, 2025
Citing a December 2024 statement by Union Finance Minister Nirmala Sitharaman, Mallya pointed out that banks recovered ₹14,131.6 crore through asset seizures. “If the banks have recovered more than twice what was owed, why am I still being pursued?” he asked, suggesting political motivations behind continued legal action.
Will Mallya Ever Return?
Shamani’s most provocative question came mid-episode: Would Mallya return to India if granted a fair trial?
“If I am assured, absolutely, I will think about it seriously,” Mallya responded. Yet, he immediately raised concerns about Indian prison conditions, referencing a UK High Court ruling in a separate case that deemed Indian jails incompatible with Article 3 of the European Convention on Human Rights (ECHR). He pointed to similar rulings preventing other extraditions to India.
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Although Mallya’s extradition was cleared by the UK High Court in April 2020, the process has stalled. He claims a willingness to face trial—but only with guarantees of impartiality and humane detention.
Social Media Buzz and Lighter Moments
The episode has already gone viral on platforms like X, with users praising Shamani for securing what many are calling the most compelling podcast in Indian internet history. “The longest & surely the best podcast I have seen yet,” said @Sadistic__Soul. Another user, @Memergirl__, suggested that Mallya had “finally told his entire truth,” though such claims remain hotly debated.
The conversation wasn’t all legal and economic. Mallya touched on his deep emotional connection to the Royal Challengers Bengaluru (RCB), the IPL team he founded in 2008. Fresh off RCB’s maiden IPL title win in 2025, Mallya fondly recalled signing players like Virat Kohli and Chris Gayle. However, his celebratory social media posts drew backlash, with many netizens criticizing his unresolved debts to SBI.
A Controversial Legacy
Mallya remains one of the most polarizing figures in Indian business history. Celebrated once for his glamorous lifestyle, branded jets, and yacht parties, he is now more commonly viewed as a cautionary tale of corporate excess. His 2016 birthday bash featuring Enrique Iglesias still rankles many former employees who have yet to receive pending dues.
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Despite the legal headwinds, Mallya’s personal life seems undisturbed. He recently hosted his son Sidhartha Mallya’s wedding in June 2024 at the family’s sprawling £14 million Ladywalk estate in Hertfordshire, UK. The high-profile event underscored his enduring wealth and global connections—even as Indian courts issue non-bailable warrants, such as a ₹180 crore loan default case with Indian Overseas Bank.
He was also barred by SEBI in July 2024 from trading in securities for three years, further restricting his financial footprint.
A Man Trying to Reclaim His Narrative
The Enforcement Directorate (ED) and Central Bureau of Investigation (CBI) continue their pursuit, but Mallya appears increasingly willing to shape the public narrative. This podcast could signal a strategic shift in his approach—from courtroom defenses to public persuasion.
As one user on X, @isrivastavas, summarized: “Listening to Vijay Mallya’s podcast left me with a mix of sadness and frustration. His apology to Kingfisher employees feels genuine, but the bigger question is whether justice will ever be served.”
The full podcast is available on YouTube and has already racked up thousands of views, with key moments circulating widely across social media. While opinions remain divided, Mallya’s long silence has finally broken—and India is listening.
