The Union finance ministry on Monday said 15 industrialists, including Kingfisher Airlines owner Vijay Mallya and jeweller Nirav Modi, still owe over thousands of crore of rupees as repayment to various banks. Mallya had recently claimed he had repaid all loans taken for Kingfisher Airlines.
The Parliament winter session began on Monday, and responding to a question by MP Murari Lal Meena, the Union finance ministry said till October this year, the special court for trial of cases under the Fugitive Economic Offenders Act has so far declared 15 people as fugitives. Among them, "nine persons are related to large-scale financial frauds committed against public sector banks."
According to the reply tabled by Pankaj Chaudhary, Minister of State, finance ministry, the fugitives owe a whopping Rs 58,082 crore for Indian banks, including Rs 31,437 crore accrued interest on NPAs.
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Till October this year, the banks have recovered Rs 10,462.79 crore from the fugitives and have also extended a discount of Rs 3,542 crore for a few businessmen. According to the Union ministry, Vijay Mallya availed a loan of Rs 10,462.79 crore, majorly for Kingfisher Airlines and interest accrued over NPAs totalled Rs 16,632.62 crore. According to the Centre, including the interest owed, Mallya has repaid Rs 15,094.93 crore and still owes Rs 12,000 crore to multiple banks.
During his viral podcast with YouTuber Raj Shamani, Mallya claimed he has repaid all his loans. According to Mallya, while he originally borrowed Rs 6,200 crore from banks, he has repaid Rs 14,000 crore.
