Mallya podcast: Is he plotting India return or just PR noise after RCB win?

In this episode of Capital Beat, host Neelu Vyas engages in a pointed discussion with The Federal’s Giri Prakash on fugitive businessman Vijay Mallya’s recent four-hour-long podcast interview with influencer Raj Shamani. After nearly a decade of silence, Mallya breaks cover to defend himself, blame past governments, and hint at a possible return to India. But is this a sincere tell-all or a calculated PR exercise?

Timing and optics

Mallya’s decision to speak now, right after Royal Challengers Bangalore (RCB) won the IPL — an entity he once owned — has raised eyebrows. “That could have been one of the reasons,” said Giri Prakash, noting that Mallya still considers RCB his “baby.”

Also Read: Mallya interview: A fact check, his version of truth and what he leaves out

Interestingly, Mallya chose to speak not to a seasoned journalist, but to social media influencer Raj Shamani. Giri pointed out, “There are certain questions that only someone who's tracked Mallya for long would know to ask. This was clearly a curated exercise.”

Legal troubles and the escape

Mallya continues to deny being a thief, instead blaming the 2008 financial crisis for the collapse of Kingfisher Airlines. He also accused banks and officials of discouraging him from downsizing operations. Regarding his controversial exit from India in 2016, Mallya claimed he informed Arun Jaitley, the then Finance Minister. However, Giri clarified the timeline: “He flew to London using his diplomatic passport just a day after banks moved the Supreme Court to prevent him from doing so.”

He cited prison conditions in India as violating human rights, echoing a UK court observation, and added that he couldn’t return without assurance of a fair trial.

Political blame game

Mallya spread blame across political lines. He accused the UPA government, especially then Finance Minister Pranab Mukherjee, of dissuading him from downsizing the airline. But as Giri highlighted, “Mallya did defer 32 aircraft deliveries by 2010, indicating a form of downsizing. He himself says speaking to Pranab was a mistake.”

He also alleged that foreign direct investment (FDI) rules delayed a potential deal with Etihad Airways, though Giri countered that Mallya knew the aviation sector's parameters from the beginning.

Money laundering and financial damages

Addressing the financial allegations, Giri elaborated: “There are two components to the ₹9,500 crore debt—principal and interest. Mallya offered to repay only the principal, but that would have meant a massive haircut for the banks.”

Enforcement Directorate and CBI have accused Mallya of money laundering and round-tripping, though many of those charges remain under trial. Giri also emphasized the macroeconomic impact: “When corporates default, it inflates interest rates for everyone and damages the economy.”

Employee dues and misplaced priorities

Mallya apologised to Kingfisher Airlines employees, saying he was “deeply sorry” they weren’t paid. Yet, as Giri pointed out, “He received millions from the sale of United Spirits to Diageo, but didn’t use that to pay his staff.”

Recalling how employees used to sign in and spend days on beaches to save face, Giri slammed Mallya’s logic: “He once claimed employees don’t understand the Companies Act. That’s not an excuse for abandoning them.”

Podcast’s real audience

When asked whom Mallya was addressing—the BJP, Congress, or the public—Giri was clear: “He spoke to everyone, but it’s too late for apologies. There’s no new information, just recycled statements.”

He also questioned Mallya’s sincerity about returning: “If he truly wants to come back, he doesn’t need dramatic interviews. Just write to the Indian High Commission, revoke asylum if it was sought, and return. But he hasn’t done that.”

Final thoughts

Summing up the podcast’s potential impact, Giri said, “This might create ripples for a while but has no lasting political value. The message seems aimed at making Mallya relevant again—especially after RCB’s win. But unless he faces trial in India, it’s all just noise.”

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