The Alleged Recovery of Vijay Mallya’s Assets: Fact versus Fiction

Recently, the question has been raised regarding the amount of assets recovered by the NDA government from Vijay Mallya. According to the figures provided, the recovery is said to be around Rs. 14000 crore. However, a closer examination of the situation reveals a more nuanced picture. This article will dissect the facts and provide a clearer perspective on the matter.

Current Status of Vijay Mallya’s Assets

As of the present, the recovery of assets from Vijay Mallya can be summarized as follows:

Rs. 12100 Crore: In the form of UBM shares, UBI shares, and title deeds to around 850 crores of properties and other assets, these have been pledged to the High Court of Karnataka in 2013-2014. Rs. 940 Crore: Assets of Vijay Mallya have been attached by the Enforcement Directorate (ED), which includes properties and UB condominiums in the Bangalore area. Several Worthless Assets: Tax departments have attached assets that include planes currently worth 5-10% of their original value. Rs. 450 Crore: Banks have attached around 4 properties belonging to KFA/UB which were pledged as collateral to loans.

Adding up these amounts, the total recovery stands at Rs. 13490 Crore, which is approximately Rs. 14000 Crore claimed.

Is Vijay Mallya a Thief?

The question arises as to how Vijay Mallya can be considered a thief if he pledged assets to the High Court of Karnataka as early as 2013-2014, long before any criminal cases against him were filed. Here are some key points to consider:

Asset Pledging: Vijay Mallya pledged a significant amount of his assets to cover his outstanding debts, indicating that he was seeking a solution to his financial troubles through legitimate means. Valued Assets Left Behind: He left behind assets in India, valued at approximately Rs. 13450 Crore, which were pledged to cover his debts. This suggests a commitment to debt repayment. Interest Accumulation: Over the years, the interest charged on the pledged assets has significantly increased, resulting in his debt ballooning from Rs. 9400 Crore to Rs. 18000 Crore. This increase undoubtedly impacts his ability to settle his debts, not because of his actions but rather due to the lending consortiums.

Unfair Treatment by the Indian Economy and Media

The situation Vijay Mallya faces seems unfair and potentially prejudiced. Here are some key points to consider:

Unjust Interest Charges: Banks and lending consortiums have charged exorbitant interest rates, which have compounded his debt. Government’s Inaction: Instead of liquidating the pledged assets and settling the loans, the government has demanded more payments, which has led to a legal and financial deadlock. Media Influence: The media, referred to as presstitutes, have played a crucial role in shaping public opinion against Vijay Mallya, adding to the unfair treatment he has faced.

These factors contribute to a complex and unjust situation for Vijay Mallya, and the title of thief may not entirely reflect the complexity of his financial and legal issues.

Conclusion

In conclusion, the recovery of assets from Vijay Mallya stands at Rs. 13490 Crore, which is close to the Rs. 14000 Crore claimed. Understanding the context and the complexities involved is essential to providing a fair and impartial evaluation. Vijay Mallya has faced significant challenges, both economic and legal, and the treatment he has received has raised questions about the fairness and transparency of the system.