In a dramatic turn of events, controversial business tycoon Vijay Mallya has finally spoken out, nine years after fleeing India amid a massive financial scandal. Defending himself against long-standing accusations, Mallya boldly declared, “I’m not a chor, I didn’t run.” His statement has reignited debate across India, as critics and supporters alike revisit one of the country’s most infamous corporate sagas.
Vijay Mallya Apologizes To His Former Employees
— Vijay Mallya (@TheVijayMallya) June 5, 2025
“I apologize to everyone for the failure of Kingfisher Airlines,” Mallya said in a four-hour podcast hosted by YouTuber Raj Shamani. Vijay Mallya—who is wanted in India on suspicion of fraud and money laundering totaling more than ₹9,000 crore—discussed the cases against him. The former CEO of Kingfisher Airlines talked about his contentious departure from India, legal disputes, the airline’s demise, and his issue with being referred to as a “chor.”
Vijay Mallya On Kingfisher’s Downfall
— Vijay Mallya (@TheVijayMallya) June 5, 2025
Mallya identified the 2008 global financial crisis as a primary catalyst for Kingfisher Airlines’ demise. “Are you familiar with Lehman Brothers? Have you heard about the global financial crisis? Did it not affect India? Of course, it did,” he told Shamani, adding, “It affected every area. The funds stopped. It became dry.” Additionally, the Indian rupee’s value declined.
Every industry was impacted. The funds ceased. It became dry. He went on to say, “The value of the Indian rupee also took a hit,” referring to broader financial instability that had a significant negative impact on capital-intensive industries like airlines.
Mallya Blames The Government For The Loan Spiral
— Vijay Mallya (@TheVijayMallya) June 5, 2025
Kingfisher Airlines, which debuted in 2005, immediately gained recognition for its luxurious branding and first-rate service. Mallya claimed that to salvage the company, he presented a downsizing plan to then-Finance Minister Pranab Mukherjee as the economy deteriorated.
“I visited Shri Pranab Mukherjee…… I have a problem,” he added. He recalled, “I can’t afford to operate under these depressed economic circumstances, so Kingfisher Airlines needs to downsize, cut the number of aircraft, and lay off employees.”
Mallya claimed that his suggestion was rejected. “I was advised against downsizing. If you keep going, banks will help you. That’s how it all began,” he stated.
“All of Kingfisher Airlines’ flights have been forced to be suspended. Kingfisher Airlines has experienced difficulties. The business was struggling at the time we requested a loan,” he said.
Vijay Mallya On Being Called A Fugitive
— Vijay Mallya (@TheVijayMallya) June 5, 2025
Mallya’s legal issues keep getting worse. He lost an appeal against a bankruptcy decision granted by the London High Court on April 9 of 2016. The ruling was related to a debt of ₹11,101 crore owed to a group of Indian lenders, including the State Bank of India.
Although he accepted that it was “fair” to refer to him as a fugitive, he questioned why the word “Chor” was being used to describe him in the political corridors.
“Call me a fugitive because I didn’t travel to India after March 2016. I traveled out of India on a planned visit rather than fleeing. Okay, so I didn’t come back for reasons I believe to be legitimate, so feel free to label me a fugitive, but why the ‘chor’? He asked, “Where is the ‘chori’?” Watch the full podcast here.
Through his legal representative, Mallya appealed to the Karnataka High Court in February, claiming that banks had already recovered ₹14,000 crore, which was significantly more than the ₹6,200 crore that was initially owed. He asked the court to order lenders to submit a thorough analysis of the money that was recovered. A bench headed by Justice R Devadas, who is the Judge of the Karnataka High Court, responded to the request by sending notifications to the relevant banks and debt recovery authorities.
Despite this, Indian officials are still working to extradite Mallya so that he can stand trial for financial crimes involving Kingfisher Airlines, which shut down in 2012.
Vijay Mallya On Returning To India
— Vijay Mallya (@TheVijayMallya) June 5, 2025
Mallya responded, “If I have a fair assurance of a fair trial and dignified existence in India, I will think about it seriously,” when asked if he would consider going back to India.
Mallya also discussed his solitude in exile, the media’s perception of him, and the creation of the IPL side Royal Challengers Bengaluru in the same podcast.
“I have spoken on this podcast for the first time in nine years, for those who are interested,” Mallya wrote on X, “I wish to apologize to the Kingfisher Airlines staff and correct the record using the truth and facts.”
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