After nearly a decade of media silence, fugitive businessman Vijay Mallya finally broke his silence in a bombshell 4-hour podcast with entrepreneur Raj Shamani that has already garnered over 20 million views. The interview marked Mallya’s first extensive public commentary since fleeing India in 2016, where he addressed the Kingfisher Airlines collapse, issued a heartfelt apology to unpaid employees, and made a conditional offer to return to India.
Breaking the 9-Year Silence: Why Now?
Why did Mallya choose to speak after 9 years of silence? The former liquor baron explained his decision was driven by frustration with what he calls a “vicious, relentless trial by media”.
“For the last nine years, I have been the subject of a vicious, relentless trial by media in India who have created so many narratives, negative narratives about me, that I have become a lightning rod of public anger, being abused, called names,” Mallya told Shamani.
The 68-year-old businessman chose podcasting as his medium because it offered an opportunity to present his side without what he perceives as biased traditional media coverage. He admitted he “didn’t even know that a podcast existed” until Shamani explained the format to him.
The Kingfisher Airlines Collapse: Setting the Record Straight
Mallya traced the roots of Kingfisher Airlines’ downfall to the 2008 global financial crisis, specifically citing the Lehman Brothers collapse as a pivotal moment. The airline, which launched in 2005 as a luxury carrier, had been thriving until the economic downturn changed everything.
The Government’s Role in the Crisis
In a shocking revelation, Mallya claimed he approached then-Finance Minister Pranab Mukherjee with a downsizing proposal during the crisis:
“I went to Shri Pranab Mukherjee and said I have a problem. Kingfisher Airlines needs to downsize, cut the number of aircraft, and lay off employees, as I can’t afford to operate under these depressed economic circumstances. I was told not to downsize. You continue, banks will support you. That is how it all started”.
This claim suggests that government intervention prevented what Mallya saw as necessary cost-cutting measures that could have saved the airline.
The Financial Reality
By 2012, Kingfisher Airlines had accumulated debts exceeding ₹9,000 crore from a consortium of 17 banks, primarily government-owned institutions like the State Bank of India. The airline ceased operations in October 2012, leaving thousands of employees unpaid and passengers stranded.
Heartfelt Apology to Unpaid Employees
Perhaps the most emotionally charged moment of the podcast came when Mallya addressed the 3,000 former Kingfisher employees who are still owed approximately ₹300 crore in unpaid salaries.
The Apology
When asked directly about his responsibility to unpaid staff, Mallya’s response was unequivocal:
“I am deeply sorry for what happened to them and that some didn’t receive their salaries. I offer no excuses and take full responsibility.”
The Legal Complications
However, Mallya claimed there were legal obstacles preventing salary payments:
“For those who care to listen, there was money lying in the deposit with the Karnataka High Court. I specifically applied to court to pay their salaries, but the banks rejected it, and the courts rejected the permission. There was really nothing I could do beyond that”.
This explanation attempts to shift responsibility to the legal system while maintaining his commitment to employee welfare.
The Human Cost
The impact on employees has been devastating. Many former ground staff, technicians, and engineers remain unemployed a decade later. Former cabin crew members have taken jobs in shopping malls and hotels at fraction of their airline salaries. Some employees, like former technician Sujit Ghosh, have resorted to completely different livelihoods to survive.
Fugitive vs Fraud: Mallya’s Key Distinction
One of the most significant aspects of the interview was Mallya’s distinction between being labeled a “fugitive” versus a “chor” (thief).
Accepting the Fugitive Label
“Call me a fugitive for not going to India post-March (2016). I didn’t run away, I flew out of India on a prescheduled visit. Fair enough, I did not return for reasons that I consider are valid, so if you want to call me a fugitive, go ahead”.
Rejecting Fraud Allegations
However, Mallya vehemently rejected allegations of theft or fraud:
“But where is the ‘chor’ coming from… where is the ‘chori’? Show me the chori”.
The Recovery Claims
Mallya made a controversial claim about loan recovery, stating that banks have recovered ₹14,100 crore against his original debt of ₹6,203 crore. This assertion, if true, would suggest that creditors have recovered more than double the original amount owed.
The Fair Trial Condition for Return
When pressed about returning to India, Mallya laid out specific conditions that would make him consider coming back.
The Conditions
“If I have a fair assurance of a fair trial and dignified existence in India, I will think about it seriously”.
Human Rights Concerns
Mallya referenced European legal standards and cited a UK High Court of Appeal judgment stating that Indian detention conditions violate Article 3 of the European Convention on Human Rights. This ruling has prevented other extradition cases, giving Mallya legal grounds for his concerns.
Current Legal Status
Mallya lost his final appeal against extradition in 2020, but the order has not been enforced due to what officials describe as a “confidential legal matter”. He remains on bail in the UK and faces a 4-month jail sentence from India’s Supreme Court in a contempt case.
Corporate Bankruptcy vs Criminal Fraud: India’s Perspective
The Mallya case highlights broader questions about how business failure is perceived in India compared to other jurisdictions.
The Cultural Context
Mallya argued that India equates business failure with fraud, stating: “It is unfortunate that a businessman who fails is equated to a fraudster in India”.
Legal Framework Evolution
India’s Insolvency and Bankruptcy Code (IBC), implemented in 2016, was designed to provide a more structured approach to corporate distress. However, the law continues to face challenges with delays and complex proceedings.
Global Comparison
In many developed economies, business failure is treated as a commercial matter unless clear evidence of fraud exists. The distinction between commercial failure and criminal fraud becomes crucial in cases like Mallya’s.
What This Means for Corporate Accountability
The podcast has reignited debates about corporate governance, accountability, and the treatment of business leaders in India’s legal system.
Public Reaction
The interview has received mixed responses. While it garnered over 20 million views in just four days, critics have labeled it “image laundering” and questioned whether controversial figures should be given such platforms.
Policy Implications
The case raises important questions about:
- The effectiveness of India’s extradition procedures
- Corporate bankruptcy law implementation
- The balance between commercial and criminal proceedings
- International cooperation in financial crime cases
Industry Impact
For India’s business community, the Mallya case serves as both a cautionary tale and a example of the potential consequences of corporate failure in the current legal environment.
Conclusion
Vijay Mallya’s return to public discourse after nine years represents more than just a personal defense—it’s a window into India’s evolving relationship with corporate failure, legal accountability, and business leadership. His apology to Kingfisher employees, while maintaining innocence on fraud charges, attempts to separate personal responsibility from criminal culpability.
Whether his conditional offer to return to India will materialize remains to be seen, but the podcast has certainly succeeded in reigniting national conversations about business ethics, legal fairness, and the price of corporate ambition in modern India.
The case continues to serve as a reminder that in India’s rapidly evolving business landscape, the line between commercial failure and criminal fraud remains a subject of intense legal and public scrutiny.
Frequently Asked Questions
Q: What did Vijay Mallya apologize for in the podcast?
A: Mallya apologized specifically to former Kingfisher Airlines employees for unpaid salaries, stating he was “deeply sorry” for what happened to them and took “full responsibility”.
Q: How much money do banks claim Vijay Mallya owes?
A: Banks claim Mallya owes approximately ₹9,000 crore in loan defaults, though he contests this figure and claims banks have recovered ₹14,100 crore against his debt.
Q: What conditions did Mallya set for returning to India?
A: Mallya said he would “seriously consider” returning if given assurance of a “fair trial and dignified existence” in India.
Q: Why did Kingfisher Airlines fail according to Mallya?
A: Mallya blamed the 2008 global financial crisis and claimed the government prevented necessary downsizing when he approached Finance Minister Pranab Mukherjee for permission.
Q: What is Mallya’s current legal status?
A: Mallya remains a fugitive in the UK on bail. His extradition was approved but has not been enforced due to confidential legal matters. He also faces a 4-month jail sentence from India’s Supreme Court.
Q: How many views did the podcast receive?
A: The podcast received over 20 million views on YouTube within four days of release.
Q: What happened to Kingfisher Airlines employees?
A: Approximately 3,000 employees are still owed ₹300 crore in unpaid salaries. Many remain unemployed or took jobs at significantly lower salaries.
Q: What is the difference between being a fugitive and fraud according to Mallya?
A: Mallya accepts being called a “fugitive” for not returning to India but strongly rejects being called a “chor” (thief), asking “where is the chori (theft)?”.
Also Read: Raj Shamani’s ₹91 Crore Net Worth (2025): The Young YouTuber’s Entrepreneurial Rise
