Vijay Mallya To "Dearest Friend" Lalit Modi On X: "We've Been Wronged"

Fugitive billiionaires Vijay Mallya and Lalit Modi shared a moment of bonhomie over the Enforcement Directorate's Rs 14,000 debt recovery from the Kingfisher tycoon.

Indian Premier League founder Lalit Modi took to social media platform X to wish Mr Mallya on his birthday, adding that life has shown them both "ups and downs". In response, the latter said, "We both have been wronged in a country we tried to contribute to."

In a series of social media posts, Mr Mallya said Rs 14,131 crores from him as opposed to the Rs 6,203 crores debt adjudged towards Kingfisher Airlines. "I am still an economic offender. Unless the ED (Enforcement Directorate) and banks can legally justify how they have taken more than two times the debt, I am entitled to relief which I will pursue," he wrote.

He further questioned claims of CBI cases against him. "I am accused by CBI, together with many others including IDBI Bank officials, of fraudulently obtaining a Rs 900 crore loan from IDBI Bank, duly approved by their credit committee and Board. Full loan and interest repaid. After 9 years why no conclusive evidence of fraud and misuse of funds?"

In response, Mr Modi said, "This too shall pass."

Mr Mallya's posts came soon after Finance Minister Nirmala Sitharaman on Tuesday said the Enforcement Directorate has restored properties worth Rs 22,280 crore to the victims or rightful claimants and asserted that the fight against economic offenders will continue unabated.

She said Rs 14,131.6 crore worth properties belonging to fugitive Vijay Mallya have been restored to public sector banks.

As regards the Nirav Modi case, properties to the tune of Rs 1,052.58 crore have been restored to PSBs and private banks. In the Mehul Choksi case, properties worth Rs 2,565.90 crore have been attached and will be auctioned.