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In his first detailed response to various charges levelled against him since 2016, fugitive businessman Vijay Mallya, who is facing extradition to India in a UK court, appeared on Raj

Shamani’s podcast Figuring Out, and spoke at length on key topics around his companies and his way of doing business, his rise and fall in the Indian business space, and his legal battles.

Mallya, known as the “King of Good Times” for his flamboyant lifestyle, also spoke freely about labels like "fugitive" and "thief," the allegations of money laundering, and the extradition

and court cases against him. 

On being called a fugitive, and theft and money laundering allegations

Mallya says he didn’t run away. "I flew out of India on a pre-scheduled visit, right? I did not return for reasons that I consider valid. So, if you want to call me a fugitive, go ahead. But

where is the 'chori (theft)' coming from?"

The former chairman of United Spirits and United Breweries and founder of Kingfisher Airlines left India in March 2016, and his passport was revoked in April 2016. Since then, he has been

living in the UK. The Indian government has officially listed him as a "fugitive economic offender".

Mallya said "money laundered" does not mean he "stole" it. "Laundered to me is trying to turn cash into a cheque and cheque into cash. That’s laundering, right? If they (the Indian probe

agencies) say I laundered the money, what are they saying I did with that money? Did I steal it? Did I fund my lifestyle with it? What is the charge of laundering?” he asked.

He also responded to allegations that the brand valuation of Kingfisher was inflated to the banks to avail loans. “There was no UK independent agency (which represented the wrong numbers).

Grant Thornton is a very, very well-established accounting company hired by me. And the other company was Brand Finance. Both these companies gave a brand valuation. I submitted the Grant

Thornton brand valuation report. The bank took it. I had two recognised valuers. I submitted one report, which they accepted. Now, is that fraud? Not on my part.”

Mallya, who previously owned the Royal Challengers Bangalore (RCB) team that won the IPL 2025 title, said he is probably the only one who has been called a thief after repaying two and a

half times. "But it's okay. It's a part of life.” Mallya has claimed that the debt recovery tribunal had fixed his airline's debt at ₹6,203 crore, including interest, and that the ED had

recovered over ₹14,131.6 crore from him. 

This year in April, Mallya lost an appeal in a London high court against a bankruptcy order over ₹9,000-11,000 crore debt he owes to a consortium of banks, including SBI. He is also fighting

an extradition case to India over the fall of his airline in 2012. In 2020, his appeal against extradition was also rejected. Mallya has appealed against both, and the cases are still

ongoing. 

Mallya says in the podcast that the UK court has not adjudicated and found him either guilty or innocent. "The job of a UK extradition judge is to say, what CBI is saying is fine. In the

court, they provide their evidence. I will provide my evidence.”

On the revocation of his passport and ED summons, Mallya said that since he did not attend the summons of the ED as he needed some time to arrange money to pay off the bank loans, the

government revoked his passport. "What they intended to achieve by revocation of my passport, I still do not know.”

On being asked if he would fight back for his constitutional rights, Mallya said he had fought enough battles and now he wants to focus on his legal battles. "Remember, they are not only

time-consuming. Reading volumes of legal papers is no fun. And lawyer fees are expensive. So, one at a time.”

Mallya said if he is assured a "fair trial," he would want to return to the country. "If I am assured. I will think about it seriously.” 

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