‘Fugitive Offenders Like Vijay Mallya, Nirav Modi Owe Banks Rs 58,000 Crore’: Centre Reveals Details | India News
Last Updated:December 01, 2025, 23:35 IST The Centre said banks had recovered Rs 19,187 crore so far, through a mix of asset seizures and liquidation proceedings Vijay Mallya (left) and Nirav Modi. (File) The government on Monday placed major details before Parliament on the massive sums owed to Indian banks by fugitive economic offenders, revealing a total outstanding amount of Rs 58,000 crore. This includes both principal and accumulated interest, according to the data submitted. The Centre said banks had recovered Rs 19,187 crore so far, through a mix of asset seizures and liquidation proceedings. A total of 53 instances of fugitive economic offences have been flagged, featuring some of the most high-profile names accused of defrauding India’s banking system — Vijay Mallya, Nirav Modi, and the Sandesara family among them. According to the details shared, Vijay Mallya owes Rs 22,065 crore to various banks, out of which the banks have recovered over Rs 14,000 crore through asset seizures and liquidations. Nirav Modi owes Rs 9,656 crore and several others cumulatively push the total outstanding …
