'Instead of moaning...': Mohandas Pai's advice to Vijay Mallya over Rs 14,131 crore recovery claims

Mohandas Pai, former CFO of Infosys, on Thursday advised fugitive tycoon Vijay Mallya to seek justice through legal channels after Mallya claimed that the government had recovered more than double the debt he owed. Responding to Mallya's grievances, Pai tweeted: "Instead of moaning for a very badly handled case where you lost everything, Pl go to court to get justice. Only way is court action."  

Pai's comment was directed at Mallya's recent claim on Twitter, where the businessman alleged that over Rs 8,000 crore had been recovered from him, exceeding the judgment debt. "Whatever I have stated about my liabilities as guarantor of KFA (Kingfisher Airlines) loans is legally verifiable. Yet more than Rs 8,000 crore have been recovered from me over and above the judgment debt. Will anyone, including those who freely abuse me, stand up and question this blatant injustice? To be seen to support a much-maligned me requires guts. Sadly no guts for justice, particularly for me," Mallya wrote.  

In another tweet, Mallya highlighted that the Debt Recovery Tribunal had adjudged Kingfisher Airlines' debt at Rs 6,203 crore, which included Rs 1,200 crore in interest. He added, "The FM announced in Parliament that through the ED, Banks have recovered Rs 14,131.60 crore from me against the judgment debt of Rs 6,203 crore and I am still an economic offender."  

Mallya expressed his intention to seek legal relief unless the Enforcement Directorate (ED) and banks could justify recovering more than twice the debt. "Unless the ED and Banks can legally justify how they have taken more than two times the debt, I am entitled to relief which I will pursue."  

The fugitive tycoon also addressed the accusations of fraud leveled against him by the Central Bureau of Investigation (CBI). "Never borrowed a single rupee, never stole, but as guarantor of KFA debt, I am accused by CBI together with many others, including IDBI Bank officials, of fraudulently obtaining a Rs 900 crore loan from IDBI Bank duly approved by their credit committee and Board. Full loan and interest repaid. After 9 years, why no conclusive evidence of fraud and misuse of funds?"  

Mallya fled to the UK in March 2016 and is wanted in India for defaulting on loans worth Rs 9,000 crore issued to now-defunct Kingfisher Airlines by multiple banks. While India continues to seek his extradition, Mallya has consistently claimed his willingness to repay the public money, accusing banks and the government of rejecting his offers.  

Mallya's tweets came after Finance Minister Nirmala Sitharaman informed the Lok Sabha on Wednesday that properties worth Rs 14,131.6 crore attached by the ED in connection with his case had been restored to public sector banks.