Vijay Mallya says he may return to India if promised fair trial and dignity

Businessman Vijay Mallya, who is facing allegations of defaulting on massive loans from Indian banks, has said he would consider coming back to India—provided he is assured of a fair trial and a respectful life in the country.

In a rare and extended conversation with podcaster Raj Shamani, Mallya opened up about his legal troubles, the collapse of Kingfisher Airlines, and what conditions could prompt his return.

“If I have a fair assurance of a fair trial and dignified existence in India, I will think about it (returning to India) seriously...” he told Shamani during the four-hour conversation.

Now residing in London since he left India in March 2016, Mallya acknowledged that it’s fair to label him a “fugitive” or “fraud” for not returning.

However, he took issue with being called a thief. “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, but where is the 'chor' coming from... where is the 'chori'?” he asked.

Reflecting on the fall of Kingfisher Airlines, Mallya pointed to the global financial crisis of 2008 as a key trigger. He explained how the downturn impacted India’s economy broadly, with drying funds and a weakened rupee severely affecting business operations. “The money stopped. It got dry. The value of the Indian rupee also took a hit,” he said.

In response to the worsening financial environment, Mallya said he sought the government’s permission to reduce the airline’s scale of operations. “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,” Mallya recalled.

However, he claimed that this proposal was rejected. “I was told not to downsize. You continue, banks will support you. That is how it all started,” he added. Despite those assurances, Kingfisher Airlines eventually shut down, unable to cope with its financial burdens.

Since relocating to the UK, Mallya has been engaged in a lengthy legal battle to avoid extradition to India, where he faces multiple charges in connection with financial irregularities.