‘I Paid Back Rs 14,0…’: How Much Did Vijay Mallya Really Repay?, Deep Dive Into His Podcast

“To say that I am humbled and overwhelmed is well short of what I truly feel,” tweeted Vijay Mallya on June 10 after his four-hour-long podcast with influencer Raj Shamani crossed 20 million views. The episode marked an unexpected public re-entry of the fugitive economic offender, who is currently living in the UK and wanted by Indian authorities.

While the podcast paints Mallya as a misunderstood entrepreneur wronged by the Indian banking system, the facts tell a different story. Here’s a breakdown of his top 10 claims and what official records reveal.

1. “I took loans worth Rs 6,200 crore and have paid Rs 14,000 crore back.”

Fact-check: The Rs 6,200 crore figure refers to the principal borrowed by Kingfisher Airlines from a consortium of 17 banks. However, with accumulated interest and penalties, total dues stood at Rs 17,781 crore by 2019, as per the Debt Recovery Tribunal. Of this, Rs 10,815 crore was recovered through court-ordered asset sales under the Prevention of Money Laundering Act (PMLA)—not via any direct payment from Mallya. His claim conflates involuntary recoveries with voluntary repayment.

2. “I have committed no fraud. I always intended to repay.”

Fact-check: Indian banks officially declared Vijay Mallya a wilful defaulter, meaning he had the means but chose not to repay. Investigative agencies have traced Rs 3,500 crore of diverted funds, some of which supported ventures like the Force India F1 team or luxury expenses. A $40 million payout from Diageo in 2016 was moved to family accounts, violating personal guarantee terms.

3. “I informed Arun Jaitley before leaving India.”

Fact-check: Mallya has repeatedly said he spoke to then Finance Minister Arun Jaitley. Jaitley, however, stated that Mallya made an unsolicited approach in the Parliament corridor and was told to speak with banks. There was no formal meeting.

4. “My case is not of criminal nature. It’s only about business failure.”

Fact-check: Mallya faces multiple criminal charges under PMLA, the Indian Penal Code, and tax laws. The Supreme Court sentenced him to four months’ imprisonment in 2022 in a contempt case. He also faces a non-bailable warrant in a service tax evasion case involving Rs 100 crore.

5. “My company’s assets were undervalued.”

Fact-check: Mallya had previously overvalued assets while securing loans. During recovery, assets like Kingfisher Villa and UB shares were auctioned under court supervision. Lower recovery values stemmed from legal complications and market factors, not deliberate undervaluation.

6. “I never misused company funds.”

Fact-check: The ED found Rs 241 crore transferred to the Force India team and Rs 100 crore spent on a personal jet. Mallya also acquired foreign properties worth Rs 330 crore while failing to pay Kingfisher staff salaries.

7. “I never denied salaries or dues to employees.”

Fact-check: Salaries stopped in 2012. Employee provident funds and taxes worth Rs 371 crore weren’t deposited. Protests and hunger strikes followed, while Mallya continued his luxurious lifestyle, including IPL appearances and foreign parties.

8. “I was advised by Pranab Mukherjee to not shut Kingfisher during the 2008 crisis.”

Fact-check: This remains unverified. No official record backs this, and the late Pranab Mukherjee never confirmed the claim. Even if said informally, such advice doesn’t absolve financial accountability.

9. “I used my own funds to settle loans.”

Fact-check: All recoveries were made via asset seizures and auctions. Mallya has not made any direct, voluntary repayments since fleeing India in 2016.

10. “The media is biased and out to get me.”

Fact-check: Mallya’s fugitive status and criminal charges are based on verified investigations by ED, CBI, Supreme Court rulings, and UK court decisions. Media coverage may shape opinions, but the legal proceedings stem from concrete evidence.

Vijay Mallya’s podcast may have been a viral hit, but public relations cannot undo legal records. His portrayal as a misunderstood businessman is undermined by official data, court-monitored asset recoveries, and multiple rulings that point to a clear pattern of deceit, diversion, and default.