12 September,2026 03:45 PM IST | Mumbai | mid-day online correspondent
Vijay Mallya. File Photo
Alleged fugitive businessman Vijay Mallya has renewed his criticism of India's investigative agencies, accusing the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) of pursuing what he described as false and fabricated allegations against him.
In a series of posts on X, Mallya questioned the investigations into loans taken by Kingfisher Airlines and argued that banks had approved the loans through their established decision-making processes. He also claimed that money recovered by the ED had been returned to banks to which he owed money.
Mallya has previously disputed the description of him as a fugitive from India, saying that legal proceedings in the UK had restricted his ability to travel.
Mallya shared two ED releases concerning property attachments in an alleged money laundering case in Indore and searches and seizures at the residences of Karnataka Minister Satish Jarkiholi.
He criticised the agency's public communication about such investigations, arguing that allegations should not be treated as established facts before a trial.
"Shameful. In which Country in the World do any enforcement agency boast like this without a fair trial? Enforcement Directorate boasting this. No chargesheet. No trial. Just character assassination in public. This does not happen in any other Country. Please think for yourself," the posts claimed.
Mallya said he intended to continue presenting his version of events and disputed the allegations made by investigative agencies against him.
"To my media friends-this is not a "rant". These are facts that you do not want to correctly report. Love me, hate me, abuse me (as most do) or ignore me but I will not change. God gave me guts and strength and more importantly taught me truth eventually prevails. I remain deeply religious even though I terribly miss visiting all the sacred temples where I worshipped," he said.
Mallya specifically challenged allegations relating to a Rs 900-crore loan obtained by Kingfisher Airlines from IDBI Bank.
He claimed the loan had been approved through multiple levels within the bank, including its board, and questioned why the officials involved in the approval process and the airline's finance team had also been targeted.
"Finally, and as mentioned in the Enforcement Directorate affidavit, the CBI accused me and several others of improperly borrowing Rs 900 crores (since paid back in full with interest) from IDBI Bank in collusion with the CMD and Executive Directors. They allege misrepresentation and the fact that I met the CMD and Executive Directors on a Saturday. No evidence of any graft whatsoever. But the principal allegation (tantamount to crime) is that the Kingfisher Airline Financial position did not qualify for this loan. The loan was fully approved at all stages including by the IDBI Bank Board. Were the Board representatives from RBI and Ministry of Finance sleeping? Why target the IDBI officials and my Kingfisher Airlines finance team apart from me - prime accused?" he added.
Mallya maintained that the loan had been sanctioned by the bank's established approval process and questioned the basis of the allegations against him.
Mallya also addressed an allegation concerning his use of an Airbus corporate jet for personal travel.
He claimed that investigators had sought information about an individual who had travelled with him on the aircraft and alleged that he had refused to identify the person.
"And coming to the dreaded CBI, they say that I am criminally liable because I used my Airbus Corporate Jet for personal purposes. They tried to force me to name a particular individual who had travelled with me and I refused. So many Industrialists own Corporate Jets in India now. Are they performing a criminal act by carrying family and friends? They also do not admit that my other successful Companies paid charter fees to Kingfisher Airlines," he alleged.
Mallya argued that the use of a corporate aircraft for personal travel should not, by itself, amount to a criminal offence. His claims form part of his broader criticism of the cases brought against him by Indian agencies.
Mallya also referred to proceedings before the Bombay High Court and claimed that an ED affidavit acknowledged the recovery of more than Rs 14,000 crore from him.
He cited an excerpt from what he said was an affidavit filed by the ED before the Bombay High Court, which reportedly referred to the recovery of Rs 14,131.60 crore.
Mallya argued that the recovery demonstrated that banks had received money against the amounts he owed and questioned why he continued to face legal action.
His comments come in the context of long-running proceedings concerning alleged financial irregularities involving Kingfisher Airlines and loans taken from banks.
Mallya's remarks come months after the Bombay High Court criticised him in proceedings concerning his legal challenge under the Fugitive Economic Offenders Act.
In February, the court said Mallya could not seek equitable relief while deliberately avoiding court proceedings. It also gave him a final opportunity to clarify whether he intended to return to India.
Mallya's petition before the court challenges provisions of the Fugitive Economic Offenders Act and his declaration as a fugitive economic offender.
(With inputs from ANI)
