Vijay Mallya Still Lives Lavishly Abroad Despite Rs 14,000Cr Recovery; What is Son Siddharth Mallya Doing Now?

Vijay Mallya, the businessman who fled to London owing billions to 17 Indian banks, has broken his silence after nine years. In a four-hour interview on Raj Shamani's YouTube podcast titled Figuring Out with Raj Shamani, he discussed various topics, including bank loans and being labelled a fugitive and a thief. He also shared insights into the downfall of Kingfisher Airlines and his departure from India.

Mallya's journey began in a business family, but he had to prove himself by working a job with a salary of just 400 rupees. After his father Vithal Mallya passed away, he took over the United Breweries Group, known for Kingfisher Beer. His efforts in marketing helped Kingfisher Beer capture 52% of the market share.

How Vijay Malaya's Kingfisher Airlines' Rise and Fall?

In 2005, Mallya launched Kingfisher Airlines on his son Siddharth's 18th birthday, aiming to offer a premium flying experience. By 2008, it became India's largest airline. However, financial troubles soon followed. Mallya blamed government policies for the airline's collapse, citing high aviation fuel costs and heavy sales tax as major issues.

Mallya sought help from Finance Minister Pranab Mukherjee but received no government assistance. The lack of foreign investment permissions also contributed to the airline's shutdown.

Mallya's Departure from India

In the interview, Mallya claimed he did not flee India but informed Arun Jaitley about his trip to London. However, his passport was revoked, leaving him stranded there. According to the Debt Recovery Tribunal (DRT), he owes Rs 6,203 crore with interest included. Yet, the government claims it's Rs 9,000 crore and has auctioned off assets worth over Rs 14,000 crore.

Mallya expressed confusion over which properties were sold by the government. Despite these sales, he still possesses significant wealth and resides in a luxurious bungalow in London.

Siddharth Mallya, Vijay Mallya's Ventures

Siddharth Mallya married last year and lives in London with his wife. Unlike his father, Siddharth pursued modelling and acting careers. He has appeared in films and TV shows and dedicates time to social work. Siddharth also hosted online video shows and worked as a marketing manager for Guinness.

A report by Deccan Chronicle in 2019 revealed that Siddharth battled depression for several years before focusing on mental health awareness. He authored two books on mental health: "If I'm Honest: A Memoir of My Mental Health Journey" and "Sad-Glad." He conducts shows on mental health topics.

Siddharth resides in London while Vijay Mallya's three daughters-Liana, Tanya, and Laila-are settled in different countries post-marriage. Laila is his stepdaughter living in America as a fashion designer. Vijay now lives with Pinky Lalwani in London and enjoys spending time with their dogs.

According to an ET report from 2023, Siddharth Mallya holds assets worth $380 million through ventures beyond his father's business, including entertainment and modelling.