'Assets Worth ₹14,131 Crore Attached Against ₹6,203-Crore Liability': Vijay Mallya

Mumbai, September 9, 2026: Even after ten years since the CBI and ED registered the case against Vijay Mallya and Kingfisher Airlines, the trial has not yet commenced and agencies are still continuing with their probe. Meanwhile, Mallya on Tuesday night stated that his assets worth more than Rs 14,131 crore have been attached against his liability of Rs 6,203 crore.

The CBI had 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.

Probe And Trial Yet To Conclude

While Mallya has been contesting the fugitive tag, 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.

On the other hand, the government is also pursuing Mallya's extradition to prosecute him. Amidst this, Mallya’s argument is that his assets worth more than Rs 14,131 crore have been attached against his liability of Rs 6,203 crore.

Mallya Questions Asset Attachments

Mallya on Tuesday night took to X – a social media platform. Mallya referred 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, allowing the consortium of banks to utilise the confiscated assets for debt recovery.

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 Rs 6,203 crore.

In another part of the affidavit, it is said that movable and immovable properties having a value of approximately Rs 14,131.60 crore (value as on August 2, 2018) at the time of restoration were handed over to the SBI-led bank consortium through the Recovery Officer/DRT, Bengaluru. Mallya has hence later in another post said that why should he not ask when he will get a refund of the excess payment.

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ED Responds To Mallya’s Plea

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 in the original proceedings (money-laundering case) have already been dealt with and therefore the issue, rather the commercial dispute, needs a closure.

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