Vijay Mallya halts UK legal move, Seeks Indian banks ‘come clean’ on recoveries

Fugitive businessman Vijay Mallya said on X (formerly Twitter) that he will not pursue any legal action in England until Indian public sector banks submit accurate details of recoveries made from him.

“I will not pursue legal action in England till the Indian Public Sector Banks come clean as I have a justified counter claim that can be adjudicated only in India,” Mallya wrote on X.

I will not pursue legal action in England till the Indian Public Sector Banks come clean as I have a justified counter claim that can be adjudicated only in India.

— Vijay Mallya (@TheVijayMallya) October 13, 2025

He further said, “The Indian Public Sector Banks who claim monies from me as a guarantor should be ashamed that they have not yet submitted an accurate statement of account of recoveries made despite the Union Finance Minister clearly stating that Rs 14,100 crores have been restored to the very same Banks.”

The Indian Public Sector Banks who claim monies from me as a guarantor should be ashamed that they have not yet submitted an accurate statement of account of recoveries made despite the Union Finance Minister clearly stating that Rs 14,100 crores have been restored to the very…

— Vijay Mallya (@TheVijayMallya) October 13, 2025

Mallya withdraws UK bankruptcy annulment application

The development comes as Mallya, who is wanted in India on fraud and money laundering charges, discontinued an application in the UK High Court seeking to annul a bankruptcy order against him. The planned hearing was scheduled in London on Monday.

Following the withdrawal, the “Trustee in Bankruptcy” can continue pursuing Mallya’s assets to help a consortium of Indian banks led by State Bank of India (SBI) recover around 1.05 billion pounds, owed by his now-defunct Kingfisher Airlines.

According to UK law firm TLT LLP, representing the banks, Mallya’s discontinuance allows the trustee to continue investigating and realizing assets without hindrance.

UK court upheld bankruptcy order earlier

Earlier in April, High Court Judge Anthony Mann had ruled in favour of the banks, upholding the bankruptcy order that has been in place for over four years. “The bottom line in relation to this is that the bankruptcy order stands,” the judge had said.

Indian writ petition remains pending

Mallya had filed a separate annulment application through his legal team, Zaiwalla & Co., claiming that the banks’ debts were already recovered in India. However, the case is believed to have been discontinued since his related writ petition in India — seeking details of recoveries by the banks — has not progressed.