Banks Have To Recover Money From Vijay Mallya, Says P Chidambaram

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5:48 pm 15 Mar, 2016


Former finance minister P Chidambaram today made an indirect attack on former prime minister Atal Bihari Vajpayee. The senior Congress leader defended the Congress Party over the Vijay Mallya incident.

He said that it is the responsibility of the banks to recover money as they had given loans of Rs 9000 crore to the liquor baron.


Speaking on the launch of his book Standing Guard- A year in Opposition, he said that he doesn’t know the facts about the Mallya case. He passed the buck to the banks and said it is for them to take appropriate action as they have given money to him.

He also hinted that there were inaccuracies during the erstwhile NDA regime.

Chidambaram said:

“Please remember, in 2002-03, The Indian Express ran a series of articles called the ‘Great Indian bank robbery’. Just jog your memory and ask yourself a question — who was the PM? Nobody accuses the Prime Minister of being hand in glove.”


Around Rs 9,000-crore loans to the near bankrupt Kingfisher Airlines (KFA) promoted by Mallya were granted during the decade-long tenure of the Congress-led UPA.

Mallya, who was known as the ‘King of Good Times,’ now owes around Rs 9,000 crore to 17 banks.


Commenting on Goods and Services Tax (GST) bill, he said the same legislation drafted by him was stalled by BJP for five years during the UPA government.

Talking about the present situation, he said that the Congress has not stalled the passing of the bill in the parliament.



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