Dr Vijay Mallya Breaks Silence: Reveals Truth Behind Financial Collapse, Settlement Offers & Life in Exile
In a rare and lengthy Podcast appearance on Raj Shamani’s Figuring Out, Business tycoon Vijay Mallya opened up about his side of the story surrounding the collapse of Kingfisher Airlines, the massive Loan Default case, and the years He has spent in self-imposed exile. The Four-hour-long conversation has since gone viral, amassing over 20 million views in just Four days.
“To say that I am humbled and overwhelmed is well short of what I Truly feel,” said Mallya in a follow-up post on X (formerly Twitter), reacting to the massive viewership. “It fills my heart with joy that my True factual story is being heard.”
“I Never Said I Didn’t Want to Pay”: Mallya on Loan Default
During the Podcast, Mallya claimed that He made Four Separate Settlement Offers to Indian Banks between 2012 and 2015, including a direct Meeting with the Chairman of SBI. However, the Banks allegedly rejected his proposals, demanding ₹14,000 crore — a figure He described as “unacceptable.”
“It was always my intention to Settle. Never did I say I didn’t want to Pay,” Mallya stated, emphasizing that the Banks’ reluctance and Political pressure played a role in the collapse of negotiations”.
“Call Me a Fugitive, Not a Thief”
Refuting Media labels that have long haunted him, Mallya firmly said:
“Where is the ‘chor’? Where is the ‘chori’? Vijay Mallya has not borrowed a single rupee. I gave my personal guarantee. Koi chor kabhi apna personal guarantee deta hai kya?”
He added that his departure from India was on a Pre-Scheduled Business Trip and not an act of evasion. He has since chosen not to return due to what He describes as an unfair and hostile legal environment.
“I will return to India only if I am given a fair trial and allowed a dignified existence.”
Critique of India’s Business Climate
Mallya did not hold back in criticizing India’s Regulatory and Political LandScape, which He believes makes Entrepreneurship nearly impossible.
“There is no ease of doing Business in India… It’s in the Indian DNA… I had to be in the good books of 29 Chief Ministers.”
He pointed to the systemic challenges Entrepreneurs face, including Political gatekeeping and Bureaucratic inefficiencies.
Apology to Kingfisher Employees
In an Emotional Moment, Mallya expressed regret toward the Employees of Kingfisher Airlines, many of whom faced unpaid salaries.
“I am deeply Sorry that some of them didn't get paid… There was Money lying with the Karnataka High Court, but the Banks objected and the court refused permission.”
Life in Exile
Describing his current life in the UK, Mallya said He's in a state of Semi-Retirement, leading a Slower but reflective life. He emphasized that while He's away from India, He's not isolated, and He remains actively involved in managing his affairs.
Lastly
Whether one agrees with Vijay Mallya or not, his appearance on this Podcast has undeniably stirred fresh debate around Corporate Accountability, Banking Procedures, and the Politicization of Business Failures in India.
“I’m not asking for forgiveness. I just want to be heard fairly,” Mallya concluded.
Trisha Kesarwani
Fintech Specialist
Asiatic In Corp
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