London/New Delhi, June 7, 2025

After years of silence and legal battles, businessman Vijay Mallya has broken his silence on his long-standing standoff with Indian authorities. In a rare, candid conversation on a podcast hosted by entrepreneur Raj Shamani, Mallya opened up about the controversies surrounding him—from the downfall of Kingfisher Airlines to his potential return to India.

Mallya, who has lived in the UK since March 2016 and is wanted in India over allegations of financial misconduct and defaulting on massive bank loans, stated he’s open to returning—but only if assured of justice.

“If I can be guaranteed a fair trial and a life of dignity back in India, then I would seriously consider returning,” Mallya told the host during the four-hour episode.

On Being Called a “Fugitive”

Mallya acknowledged the "fugitive" label often used in media and public discourse, admitting that it's a fair judgment considering he didn’t return to India after 2016. But he firmly drew the line at being branded a "chor" (thief).

“Call me a fugitive if you want—I left on a scheduled trip and didn’t return. But where’s the theft? What did I steal? Where is the ‘chori’?” he asked, questioning the moral weight of the allegations against him.

The Collapse of Kingfisher Airlines

Reflecting on the unraveling of Kingfisher Airlines, Mallya pointed to the global economic crisis of 2008 as the primary cause. According to him, the recession severely weakened India’s financial system, drying up capital and triggering a fall in the rupee's value—factors that hit the airline industry hard.

“Everything just stopped. Liquidity dried up, and Kingfisher couldn’t keep flying at that scale,” he explained.

He also revealed that he had gone to then Finance Minister Pranab Mukherjee with a plan to scale back operations to save the airline. Mallya said he proposed cutting the fleet size and reducing staff as a survival strategy, but the idea was turned down.

“I told Shri Pranab Mukherjee we had to downsize. But I was told not to. I was assured that banks would support us if we continued as is. That’s where it all began,” Mallya said.

Eventually, despite initial encouragement, Kingfisher Airlines was forced to cease operations under mounting financial pressure, marking one of the biggest corporate failures in Indian aviation history.

Legal Battles and Life in Exile

Since moving to the UK, Mallya has been embroiled in a years-long legal fight against extradition. Indian authorities have accused him of defaulting on over ₹9,000 crore worth of loans. However, Mallya continues to maintain that he did not flee justice but left India for a pre-scheduled meeting.

As discussions around his possible return resurface, Mallya’s comments have reignited public and political debate. While some see his remarks as a sign of remorse and potential resolution, others remain skeptical of his intentions.

For now, Mallya remains in London, but his words suggest the door to a return might not be closed—as long as justice, and dignity, are on the table.