'Will seriously think about it': Vijay Mallya on returning to India amid 'fair trial' hopes

Embattled liquor tycoon Vijay Mallya, who faces fraud and money laundering charges in India, said on Thursday that he would "seriously consider" returning to the country — but only if he is guaranteed a fair trial by Indian investigative agencies.

"If I have a fair assurance of a fair trail and dignified existence in India, I will think about it (returning to India) seriously..." Mallya said, during a podcast conversation with Indian content creator Raj Shamani, marking a rare public appearance and signaling a potential shift in his stance.

On being tagged as a "fugitive" and "thief" back in India, Mally said: "You may call me a fugitive, but I didn’t run away. I flew on a prescheduled visit, fair enough I didn’t return for reasons that I consider are valid… so if you want to call me a fugitive, go ahead, but where is the ‘chor’ (thief) coming from… where is the ‘chori’ (theft)?"

Earlier in the day, Mallya claimed that banks have recovered Rs 14,100 crore from him against his debt of Rs 6,203 crore. He also reiterated that he was being discriminated against as opposed to other defaulters who received relief from banks. Mallya had made similar claims in December 2024 and last February.

Mallya was the owner of the now-defunct Kingfisher Airlines and chairman of the UB Group, a conglomerate with interests in beverages, aviation, and financial services. His downfall began with the collapse of Kingfisher Airlines in 2012, leaving behind massive unpaid dues to banks, employees, and airport authorities.

Mallya is accused of defrauding a consortium of Indian banks of over Rs 9,000 crore (approx. $1.2 billion), largely through loans given to his now-defunct Kingfisher Airlines.

He is also accused of diverting funds to overseas accounts and shell companies, and money laundering, as charged by the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI).

In March 2016, Mallya left India for the UK just as legal pressure began to mount. He has since resided in London, where he fought a prolonged legal battle against extradition to India.

In February, Mallya approached the Karnataka High Court, requesting clarity on the loan recovery process undertaken by banks. According to a report by ANI, his counsel, senior advocate Sajan Poovayya, claimed that despite the repayment of nearly Rs 6,200 crore, banks have already recovered Rs 14,000 crore. He was seeking a detailed statement from the banks outlining the total amount recovered.

In 2017, India submitted an extradition request to the UK. In December 2018, the Westminster Magistrates’ Court ruled in favor of extraditing him. The then UK Home Secretary Sajid Javid approved the extradition in February 2019. However, Mallya appealed, and the case has been stuck since due to what British authorities called “confidential legal issues”, delaying the final handover.

In April this year, Mallya lost an appeal against a London High Court bankruptcy order in a case pertaining to more than ₹11,101 crore debt to lenders, including the State Bank of India (SBI).