Vijay Mallya's ₹14,131 Crore Assets Attached

Mumbai, September 9, 2026: Vijay Mallya, the former owner of Kingfisher Airlines, has stated that his assets worth more than ₹14,131 crore have been attached against his liability of ₹6,203 crore.

The case against Mallya was registered by the CBI and ED ten years ago, but the trial has not yet commenced. The CBI first registered a case against Mallya on July 29, 2015, on the complaint of IDBI for loan default.

Subsequently, another case was registered on August 12, 2016, on the complaint of a consortium of banks led by State Bank of India. Based on this, the Enforcement Directorate initiated a money-laundering probe against Mallya.

Mallya was declared a fugitive economic offender in January 2019 by the special court. The order was challenged by his legal team before the Bombay High Court, which is still pending.

The declaration would enable Indian agencies to confiscate Mallya’s properties located abroad. The probe and trial are yet to conclude, and the government is also pursuing Mallya's extradition to prosecute him.

Mallya has been contesting the fugitive tag, and both the agencies are yet to close the investigation over the alleged misappropriation of funds and money laundering against the other accused.

The special court hearing the cases has not framed the charges in the case, as discharge applications of a few of the accused are pending for hearing.

Mallya on Tuesday night took to social media, referring to the affidavit of the Enforcement Directorate dated September 7. The affidavit was submitted by the ED in the petition filed by Mallya challenging the order passed by the special PMLA court on December 31, 2019.

Mallya has shared screenshots of the ED’s reply, where it is claimed that the Debt Recovery Tribunal, in its order dated January 19, 2017, had determined his liability at approximately ₹6,203 crore.

In another part of the affidavit, it is said that movable and immovable properties having a value of approximately ₹14,131.60 crore at the time of restoration were handed over to the SBI-led bank consortium through the Recovery Officer/DRT, Bengaluru.

Mallya has hence asked why he should not ask when he will get a refund of the excess payment.

The ED had submitted the affidavit before the High Court responding to the notice issued to the agency on the argument of Mallya’s lawyer Amit Desai stating that most of the assets identified and attached by the Enforcement Directorate were not owned by Mallya.

The case against Mallya is a significant one, with the government and the banks seeking to recover the loans given to Kingfisher Airlines. The attachment of Mallya's assets is a major development in the case, and it remains to be seen how the trial will proceed.

The outcome of the case will have significant implications for the banking sector and the government's efforts to recover bad loans. It will also be closely watched by the business community and the general public, given the high-profile nature of the case.