Vijay Mallya Breaks Silence After 9 Years: Speaks on Kingfisher Collapse and Bank Loans

London-based businessman Vijay Mallya, who fled India amid allegations of financial fraud and unpaid loans to 17 Indian banks, has broken his silence after nearly nine years. In a candid four-hour interview on a YouTube channel, Mallya addressed key issues surrounding his image as a fugitive, the fall of Kingfisher Airlines, and his ongoing legal battles.

From Brewing King to Aviation Dreams

Mallya began his career modestly despite being born into a prominent business family. After the death of his father, Vithal Mallya, he took over the reins of United Breweries Group, transforming Kingfisher Beer into a household name with over 52% market share in India.

In 2005, on his son Siddharth’s 18th birthday, Mallya launched Kingfisher Airlines, aiming to provide India with a premium flying experience. By 2008, it had become the country’s largest airline. However, the airline's glory was short-lived.

Why Did Kingfisher Airlines Fail?

Mallya cited multiple factors in the collapse of Kingfisher Airlines, most notably blaming government policies, rising aviation fuel costs, and high sales taxes. He claimed that despite reaching out to then Finance Minister Pranab Mukherjee, he received no financial assistance or policy relief.

He also pointed to the government’s refusal to allow foreign direct investment (FDI) in aviation at the time, which restricted rescue options for the struggling airline.

Did Mallya Flee India? His Side of the Story

In the interview, Vijay Mallya denied fleeing India, claiming he had informed former Finance Minister Arun Jaitley of his intention to travel to London. Once in the UK, his passport was revoked, leaving him stranded.

The Debt Recovery Tribunal (DRT) reports Mallya owes Rs 6,203 crore, but Indian authorities claim the amount exceeds Rs 9,000 crore with interest. In response, over Rs 14,000 crore worth of his assets have been auctioned by the government. However, Mallya stated he was unclear about which properties were sold, alleging a lack of transparency.

Despite his legal troubles, Mallya continues to live in a luxurious London mansion, accompanied by longtime partner Pinky Lalwani and their pet dogs.

Siddharth Mallya: From Business Heir to Mental Health Advocate

Mallya’s son, Siddharth Mallya, has chosen a different path. Now settled in London with his wife, Siddharth has explored careers in modelling, acting, and social work. He previously worked as a marketing manager for Guinness and hosted various online shows.

In recent years, Siddharth has become a mental health advocate, having publicly battled depression. He authored two books: "If I'm Honest: A Memoir of My Mental Health Journey" and "Sad-Glad," both focused on emotional well-being. As per a 2023 Economic Times report, Siddharth is said to hold assets worth $380 million through diverse ventures.

Where Are the Mallya Daughters?

Vijay Mallya has three daughters—Liana, Tanya, and Laila. Post-marriage, they have settled across different countries. Laila, his stepdaughter, is a fashion designer in the United States.

As India continues to pursue the extradition of Vijay Mallya, his recent interview sheds light on his perspective and past business failures. While the courts and investigative agencies move forward with legal proceedings, Mallya’s claims reopen the debate on regulatory policies, banking practices, and accountability in corporate India.

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