London, Dec 29 (PTI) IPL founder Lalit Modi on Monday apologised for calling himself and Vijay Mallya the "two biggest fugitives" of India in a video posted on social media and said that his statement was "misconstrued".

In the now-deleted video from Mallya's 70th birthday celebrations in London, Lalit Modi joked about the pair's status as the "two biggest fugitives" of India.

Issuing an apology, Lalit Modi said in an X post, "I apologise if I have hurt anyone feelings, especially the Indian Government, whom I have the highest respect and regard for." "The statement was misconstrued and was never intended to be as played out," the founding commissioner of the Indian Premier League (IPL) added.

He concluded the post by offering "deepest" apologies.

The apology came days after India said it is committed to bringing back from abroad economic fugitives including Lalit Modi and Mallya to face the law in the country.

Both Lalit Modi and Mallya face legal challenges in India around allegations of financial impropriety, which they both have denied.

Lalit Modi is wanted by Indian probe agencies for his alleged involvement in money laundering and violating the Foreign Exchange Management Act, 1999 (FEMA). Mallya is also wanted in India on fraud and money laundering charges in connection with loans to the now-defunct Kingfisher Airlines.

Mallya is believed to be on bail in the UK as he continues to refuse extradition while a “confidential” legal matter, believed to be related to an asylum application, is resolved.

Earlier this year, a consortium of Indian banks led by the State Bank of India (SBI) won a court appeal in London to uphold a bankruptcy order against him in a long-standing legal battle seeking repayment of a judgment debt of around 1.05 billion pounds owed by Kingfisher Airlines.

In October, it emerged that Mallya had discontinued an application to annul the UK bankruptcy order, which meant the “Trustee in Bankruptcy” could continue to pursue his assets for the banks to realise the repayment of the judgment debt. PTI SKS GRS SKS GRS GRS

Lalit Modi apologises for remark about fugitives; both he and Vijay Mallya face financial allegations and extradition efforts. Lalit Modi apologised for calling himself and Vijay Mallya 'two biggest fugitives,' saying the remark was misconstrued, amid Indian efforts to repatriate economic fugitives. Modi faces alleged money laundering and FEMA violations; Mallya faces alleged fraud and money laundering related to Kingfisher Airlines, is resisting extradition in the UK, and remains subject to bankruptcy enforcement as banks pursue asset realisation to satisfy a large judgment debt.