Monday, April 25th, 2016

The 15 Million mansion of pauper Vijay Mallya

Narada Desk | April 25, 2016 5:59 pm Print


Indian liquor baron Vijay Mallya, who owes Rs. 9,000 crores to various banks in the country, has been living at a $15 million mansion in England’s Hertfordshire county, The Sunday Times reported.

The mansion was bought from the father of Lewis Hamilton, the Formula One champion, by a company with offshore links, the daily said.

An arrest warrant for Mallya, 60, nicknamed “The King of Good Times”, was issued by an Indian court last week after he flew to Britain.

The use of companies with offshore links to buy properties in Britain has come under increasing scrutiny as the practice can allow the real owner or beneficiary to remain hidden sometimes for tax purposes.

Such companies collectively hold up to $245 billion of British property, much of it in London and the home counties.

Mallyais one step closer to being deported from Britain after his passport was revoked by India’s external ministry on Sunday.

Meanwhile, a media report said Mallya appears on the electoral rolls in Britain with his country home in Hertfordshire as his recorded address.