Stories
SBI-led Banks Tell Bombay HC ₹8,752 Crore Still Recoverable from Vijay Mallya
- •A consortium of banks led by SBI informed the Bombay High Court that approximately ₹8,752 crore remains outstanding and recoverable from Vijay Mallya as of August.
- •This contradicts Mallya's claim that all outstanding amounts owed to financial institutions have been recovered.
- •Mallya is petitioning for the termination of criminal charges against him, arguing that his financial disagreement with lenders was resolved after asset recovery.
- •Banks state that while ₹10,270 crore was provisionally recovered and ₹544.58 crore before Debt Recovery Tribunal proceedings, significant sums are still unsettled.
- •The legal proceedings involve civil recovery of bank liabilities and criminal prosecution by the ED and CBI for alleged bank fraud and money laundering.
Key Questions Answered
As of August 31, 2026, the SBI-led banking consortium informed the Bombay High Court that approximately ₹8,751.86 crore remains outstanding and recoverable from Vijay Mallya, following additional accruals for legal fees and miscellaneous charges. This directly contradicts Mallya's claims that all financial liabilities have been fully settled.
No, the Enforcement Directorate has maintained in submissions to the Bombay High Court that civil recoveries and the return of assets do not eliminate criminal accountability. Vijay Mallya still faces active prosecution under the Prevention of Money Laundering Act (PMLA) and related banking fraud charges.
The Bombay High Court is scheduled to hold the next hearing for the ongoing legal proceedings and asset disputes involving Vijay Mallya on October 13, 2026. The court previously warned Mallya against posting official court documents on social media while the case remains pending.
