{
  "id": 11609252,
  "title": "Vijay Mallya Owes ₹8,752 Crore To SBI-Led Consortium, Lenders Tell Bombay High Court",
  "url": "https://urgent.news/2026/10/03/vijay-mallya-owes-8-752-crore-to-sbi-led-consortium-lenders-tell",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-03T04:55:54.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/business/vijay-mallya-owes-8752-crore-to-sbi-led-consortium-lenders-tell-bombay-high-court"
  },
  "original_language": "en",
  "account": "Leading a consortium of SBI-backed lenders, the Bombay High Court has revealed that Vijay Mallya owes ₹8,752 crore in unpaid bank dues. This figure contradicts Mallya's claim that banks have successfully recovered the amounts owed to them. The businessman, who once founded Kingfisher Airlines and served as the former chairman of United Breweries Group, had previously approached the Bombay High Court in 2020, asserting that the financial dispute with the lending consortium had been settled after asset recovery.\n\nHowever, a recent affidavit submitted by the lenders clarified that substantial dues persist. According to the documents, debt recovery officers had provisionally recovered ₹10,270 crore backed by a bond guarantee, along with an additional ₹544.58 crore prior to the initiation of proceedings at the Debt Recovery Tribunal. By August 31, 2026, Mallya's outstanding balance had risen to ₹8,751.86 crore, after accounting for legal costs and other charges.\n\nOn the criminal front, the Enforcement Directorate has reported that assets valued at approximately ₹14,132 crore have been returned to SBI. Nonetheless, the agency has clarified before the High Court that the recovery of assets in civil proceedings does not automatically terminate criminal liability under the Prevention of Money Laundering Act. Mallya, who was labeled a fugitive economic offender in 2019, insists that recovering assets surpassing the adjudicated debt should result in the dismissal of the criminal case.\n\nThe lenders have rejected Mallya's plea to dismiss the money laundering prosecution, contending that his challenge to an earlier order dated December 31, 2019, is unfounded. They also pointed out that certain equity holdings remain undistributed and have not been liquidated. The case involves distinct civil recovery proceedings and a concurrent criminal case, both centered on accusations of bank fraud, criminal conspiracy, and money laundering. The Bombay High Court is set to address the matter on October 13.",
  "summary": "Vijay Mallya continues to face legal proceedings over unpaid bank dues, with a consortium led by State Bank of India informing the Bombay High Court that around ₹8,752 crore remains outstanding and recoverable from the businessman. The lenders’ submission, cited in a report by The Economic Times, contradicts Mallya’s claim that banks have recovered the amounts owed to them. The matter comes up as…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}