Vijay Mallya speaks about loneliest day of his life on Raj Shamani podcast: ‘Frenzy of the past doesn't last forever'
Mallya, articulate throughout the four-hour exchange, paused for a moment, let out a sigh and appeared momentarily lost for words.
'I've always had something to do. I haven't been sitting… alone. I told you… my interests keep me occupied. My pace of life has slowed down dramatically. My pace of life now is probably one of semi-retirement, to be honest,' Vijay Mallya said with a faint smile that flickered briefly before fading away.
'But, that's what happens when you reach retirement age, isn't it? So, the frenzy of the past doesn't last forever. And, I'm in that phase. But, I have enough and more interest to keep me occupied,' he added.
In 2016, Vijay Mallya was declared a 'proclaimed offender' by a special court under the Prevention of Money Laundering Act. It came after a request by the Enforcement Directorate (ED).
Mallya, accused of defaulting on bank loans worth over ₹ 9,000 crore, fled India in the same year. The fugitive business mogul told Raj Shamani that he was ready to return if promised a fair trial.
'If I am assured, Absolutely I will. I will think about it seriously,' Mallya said.
However, he was quick to add his human rights concerns. He points out that. in other extradition cases, the UK High Court of Appeal has ruled that Indian prison conditions violate the European Convention on Human Rights (ECHR).
"They just lock you up and throw away the key. That's not justice," the UK-based business tycoon said.
When asked what conditions would make him feel safe to return and face trial in India, Mallya avoided giving specifics and instead shifted focus to the reputation of Indian investigating agencies. He implied that the CBI and ED had treated others unfairly. Therefore, he lacked confidence in receiving justice from them.
'In India, sadly, a business failure is compared or is equivalent to a fraud,' he added.
Vijay Mallya, once celebrated as the flamboyant 'King of Good Times', saw a dramatic downfall after defaulting on loans linked to his now-defunct Kingfisher Airlines. Lavish parties, RCB ownership and his luxury lifestyle masked deep financial troubles.
In 2016, Mallya fled India amid mounting pressure from banks and investigative agencies. Declared a 'wilful defaulter', he became the face of corporate fraud in modern India.
Despite legal battles in UK courts over extradition, Vijay Mallya maintains he's a victim of business failure, not fraud.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
25 minutes ago
- Hans India
Moderate 3% rise in global gold demand
Global gold demand increased three per cent year-on-year to 1,249 tonne during the April-June quarter of the current year, amid a high price environment, World Gold Council (WGC) said in a report on Thursday. Strong gold investment flows largely fuelled quarterly growth, as an increasingly unpredictable geopolitical environment and price momentum sustained demand, according to WGC's Q2/2025 Gold Demand Trends report. 'Gold ETF investment remained a key driver of total demand, with inflows of 170 tonnes over the quarter, compared with small outflows in Q2 2024. Asian-listed funds were major contributors at 70 tonne, keeping pace with US flows. Combined with record inflows in the first quarter, global gold ETF desmand reached 397 tonne, the highest first-half total since 2020,' the report added. Meanwhile, the total bar and coin investment also increased 11 per cent year-on-year, adding 307 tonne. Chinese investors led the way with a 44 per cent year-on-year increase to 115 tonne, while Indian investors continued to add to their holdings, totalling 46 tonne in the second quarter. Divergent trends emerged in Western markets as European net investment more than doubled to 28 tonne, while US bar and coin demand halved to 9 tonne in the second quarter. Central banks continued to buy, adding 166 tonne in the April-June quarter this year, led by Poland, Turkey and Azerbaijan. Despite this deceleration, central bank buying remained at significantly elevated levels due to ongoing economic and geopolitical uncertainty. 'Our annual central bank survey shows that 95 per cent of reserve managers believe that global central bank gold reserves will increase over the next 12 months,' the report said. Jewellery demand continued to decline, with the volume of consumption down 14 per cent and nearing low levels last seen in 2020 during the Covid pandemic. Jewellery demand in China was down 20 per cent, and Indian demand fell 17 per cent year-on-year. However, in value terms, the global jewellery market increased to a total of $36 billion. 'The overall jewellery has dropped to 341 tonnes but increased in value to about $36 billion, which is interesting. From a Chinese demand perspective, it's down 20 per cent in terms of volume. In by 17 per cent in terms of volume. But again, in terms of value, it's significantly higher than last year,' Sachin Jain, WGC Regional CEO - India, told PTI. Further, the report revealed that the total gold supply increased 3 per cent to 1,249 tonnes, with mine production up marginally to a new second quarter record. Recycling increased 4 per cent year-on-year but stayed relatively subdued considering the high price environment. 'Global markets have navigated a volatile start to the year marked by trade tensions, unpredictable US policy shifts and frequent geopolitical flashpoints.
Hindustan Times
25 minutes ago
- Hindustan Times
Weekend Drive by Hormazd Sorabjee: Green ride, grey area
Copenhagen, with its clean air and green credentials, was a fitting backdrop to drive Mercedes-Benz's newest electric car, the CLA Electric. Compact, stylish and packed with tech, it's aimed at buyers who want to go electric without sacrificing luxury or brand cachet. And when it arrives in India by the end of the year, it could be (at around ₹60 lakh) one of the most desirable EVs. The stylish Mercedes-Benz CLA Electric arrives in India by the end of the year. What makes the CLA Electric special is not just its badge or sleek design, it's how cleverly it's been engineered. The platform, designed primarily for electric cars, is also flexible enough for hybrids or petrol engines. That's a nod to real-world buyer behaviour: Even in developed countries, not everyone's ready to go fully electric just yet. The version we drove, the CLA 250+, uses a single electric motor at the rear and an innovative two-speed gearbox, rare for EVs. This helps it achieve an astonishing claimed range of up to 792km. We managed over 730km on a single charge. That's good enough for a Mumbai-Goa trip. Mercedes-Benz's CLA Electric is one of the most aerodynamic cars ever made. It's one of the most aerodynamic cars ever made. Every crease, curve and flush surface, hidden door handle and smooth underbody panel is designed to reduce drag and stretch efficiency. The trade-off? Ground clearance. At just 107mm, the European model is too low for Indian roads. Hopefully, Mercedes will up the clearance on the India-bound models. Inside, the cabin is minimalist and modern. A wide glass panel stretches across the dashboard which houses two screens: 10.25 inches for the driver and a 14-inch central display. A third passenger-side screen is available for Europe. Given our love for tech, Mercedes would be wise to include that option for India. There are a few quirks. Adjusting the air-con fan still requires navigating through two steps, something that would've been simpler with a fixed icon or button. But the steering-mounted controls, long a sore point in modern Mercs, now offer tactile feedback and feel far more precise. Even the seat adjusters now deliver a reassuring, well-engineered click. There's mood lighting in 64 colours, a thumping optional Burmester 3D sound system, and a nifty 'frunk' under the bonnet. However, like many EVs, it lacks a spare tyre, something Indian buyers may want to retrofit given our roads. There's mood lighting in 64 colours, and a nifty 'frunk' under the bonnet. In the back seat, taller passengers may find legroom tight, and the battery under the floor raises your knees awkwardly — not ideal for long chauffeur-driven journeys. The fixed panoramic glass roof adds a bright, airy feel but could become a heat magnet in the Indian summer. Mercedes claims it offers UV-protection. On the road, the CLA is smooth, quiet, refined. It's quick without being wild, and the handling feels confident and balanced. The new brake system feels more natural than in earlier electric Mercs, and regenerative braking (used to charge the battery while slowing down) is now easier to control. Ride quality has also improved, with a much softer edge than the previous petrol CLA. The CLA Electric isn't trying to be a Tesla rival or a track monster. Instead, it's a compact luxury EV that focuses on style, tech, and range. For those who value design, efficiency and a quiet, high-tech cabin, it makes a strong case. From HT Brunch, August 02, 2025 Follow us on
The Hindu
25 minutes ago
- The Hindu
Enforcement Directorate raids against fake call centres in Delhi duping U.S. citizens
The Enforcement Directorate has conducted searches in Delhi as part of a money laundering probe against a "fake" call centre which allegedly duped U.S. citizens by pitching sale of "pirated" software, official sources said Friday (August 1, 2025). Three premises in Khanpur were raided around 10:30 p.m. on Thursday (July 31, 2025) and the searches are still going on, they said. The action is being undertaken as per the provisions of the Prevention of Money Laundering Act (PMLA). Preliminary investigation suggests, the sources said, that a call centre was being operated by some persons who misled citizens in countries like the U.S. by pitching "fictitious or pirated" software under the name of original software like Microsoft Windows. The agency suspects that funds worth ₹100 crore have been received as foreign remittances over the past few years (2016-17 to 2024-25).
