Fugitive businessman Vijay Mallya has approached the Karnataka High Court, asserting that banks have recovered multiple times the principal loan amount in the Kingfisher Airlines default case. Mallya has requested that banks provide an account statement detailing the recovered funds.

Justice R. Devdas issued notices to ten banks, including State Bank of India (SBI) and Punjab National Bank (PNB), along with a recovery official and an asset reconstruction company, in response to Mallya’s plea.

Senior advocate Sajan Poovayya, representing Mallya, argued that while Kingfisher Airlines’ total outstanding debt was around ₹6,200 crore, the recovery has already surpassed ₹14,000 crore. He pointed out that Finance Minister Nirmala Sitharaman had informed the Lok Sabha about this, while the loan recovery officer stated that ₹10,200 crore had been recovered.

Despite the full loan amount being settled, recovery actions are still ongoing, Mallya’s counsel contended. The former liquor baron is seeking an interim stay on further recovery efforts and has urged the court to direct the banks to provide a detailed account of the amounts recovered from him and United Breweries Holdings, the parent company of Kingfisher Airlines.

Mallya, who fled to the UK in 2016, had previously claimed in a social media post that banks had recovered more than twice the ₹6,203 crore debt determined by the Debt Recovery Tribunal. He also referred to Sitharaman’s statement in Parliament that properties worth ₹14,131.6 crore linked to him had been restored to banks.

Mallya remains an accused in the IDBI Bank-Kingfisher Airlines loan fraud case, and efforts to extradite him to India for trial are still underway.