'A Punching Bag?': Harsh Goenka's 'Justice' Post Gets Vijay Mallya's Thumbs-Up

News18

2 days ago

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Goenka questioned why Mallya was still a "punching bag" despite his loan recovery and said justice must be fair. Mallya is accused of defaulting on loans worth Rs 9,000 crore.
Business tycoon Harsh Goenka's recent social media post, where he questioned why fugitive businessman Vijay Mallya continues to be a 'political punching bag" despite the recovery of his loans, has reignited the debate surrounding one of India's most high-profile financial scandals.
The RPG Enterprises Chairman acknowledged that Mallya had 'lived the high life" and defaulted on his loans, but stressed that his dues worth over Rs 9,000 crore had been settled. He emphasised that justice must be fair and not selective.
'Vijay Mallya lived the high life, yes. Defaulted, yes. Unlike most others, his ₹9,000+ crore dues are now reportedly settled. Meanwhile, bigger defaulters walk free with much fatter haircuts from banks. If dues remain, the banks should clearly say so. If not, why is he still a political punching bag? Justice must be fair, not selective," Goenka said on X.
Vijay Mallya lived the high life, yes. Defaulted, yes. Unlike most others, his ₹9,000+ crore dues are now reportedly settled. Meanwhile, bigger defaulters walk free with much fatter haircuts from banks. If dues remain, the banks should clearly say so. If not, why is he still a…— Harsh Goenka (@hvgoenka) June 5, 2025
Mallya swiftly responded to Goenka's post, saying, 'Thank you Harsh. The Union Finance Ministry has confirmed in writing that Banks have recovered Rs 14,100 crores from me against a DRT judgement debt of Rs 6,203 crores. Why the blatant discrimination?"
Thank you Harsh. The Union Finance Ministry has confirmed in writing that Banks have recovered Rs 14,100 crores from me against a DRT judgement debt of Rs 6,203 crores. Why the blatant discrimination ?— Vijay Mallya (@TheVijayMallya) June 5, 2025
'Vijay Mallya didn't repay out of goodwill. His assets were seized and auctioned after years of dodging Indian courts and living lavishly in the UK," another user said. Others agreed with Goenka's statement, saying Mallya had been unfairly targeted.
Mallya is an accused in a bank loan default case of over Rs 9,000 crore from an SBI-led consortium, involving his defunct Kingfisher Airlines. He was accused of fraud and money laundering and fled the country in 2016. He has since lived in the UK while fighting his extradition to India.
Last year, the Enforcement Directorate said it had recovered Rs 22,280 crores from various banking scams, from the high-profile names like Mehul Choksi, Nirav Modi and Vijay Mallya and some fraudulent companies.
In February, Mallya told the Karnataka High Court that the Rs 6,200 crore debt he owes to banks has been recovered 'multiple times over".
'According to an admitted statement, as of today, the recovery officer confirms that Rs 10,200 crore has been recovered. Additionally, the official liquidator states that the banks have regained their dues, and even the Finance Minister informed Parliament that Rs 14,000 crore has been recovered," he said at that time.
The 69-year-old businessman was declared bankrupt in July 2021. He remains on bail in the UK while a 'confidential" legal matter believed to be related to an asylum application is resolved in connection with the unrelated extradition proceedings. A consortium of banks, led by SBI, won their court appeal in London to uphold a bankruptcy order against him in April.