Vijay Mallya, the embattled former Kingfisher Airlines chairman, addressed the allegations against him in an extensive four-hour podcast with entrepreneur Raj Shamani. Wanted in India for fraud and money laundering involving over ₹9,000 crore, Vijay Mallya spoke candidly about his controversial exit from India, the collapse of his airline, ongoing legal battles, and his reaction to being labeled a “chor” (thief). He challenged the narrative around his departure and questioned the fairness of his treatment, all while highlighting key events that led to his financial and legal troubles.
On his exit and fugitive label
Vijay Mallya rejected the label of “chor” while acknowledging that some may call him a fugitive for not returning to India after March 2016. He clarified that he did not flee but left India on a pre-planned trip and did not return due to reasons he believes are justified. “Call me a fugitive for not going back, but where is the thief coming from?” he said during the conversation. Living in the UK since 2016, Vijay Mallya expressed doubts about receiving a fair trial and dignified treatment if he returned to India. He pointed to a UK High Court of Appeal ruling in another extradition case that criticized Indian detention conditions for violating human rights, implying similar concerns apply to him. However, he stated that if assurances of fairness were given, he would seriously consider returning.
Kingfisher Airlines and financial crisis
Reflecting on Kingfisher Airlines’ downfall, Vijay Mallya cited the 2008 global financial crisis as a major factor that severely impacted India’s economy, leading to liquidity drying up and the depreciation of the Indian rupee. He revealed how he approached then-Finance Minister Pranab Mukherjee with a restructuring plan involving downsizing and layoffs. Despite his warnings, he was advised against cutting back and promised support from banks. “I was told not to downsize, that banks would back me,” he recalled. However, Kingfisher ultimately suspended operations amid growing financial pressures.
Vijay Mallya’s legal troubles have only intensified. In April 2025, he lost an appeal against a bankruptcy order related to an ₹11,101 crore debt owed to Indian lenders including the State Bank of India. Earlier in February, he petitioned the Karnataka High Court seeking a detailed breakdown of loan recoveries, claiming banks had already recouped ₹14,000 crore—far above the original ₹6,200 crore owed. Meanwhile, Indian authorities continue to push for his extradition to face trial for financial crimes tied to Kingfisher Airlines, which ceased operations in 2012.
