Vijay Mallya On UK Electoral Rolls, Says Report

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Vijay Mallya On UK Electoral Rolls, Says Report

The 60-year-old liquor baron strongly rejects any suggestion of wrongdoing and denies that he has deliberately absconded from India. (File photo)


London: 

Highlights

  1. Vijay Mallya's country home in Britain appears as his recorded address
  2. Supplied address to Indian authorities, Mr Mallya tells UK newspaper
  3. Accused of being a willful defaulter, his passport was revoked today
Embattled liquor baron and lawmaker Vijay Mallya -- whose passport has been revoked by the External Affairs Ministry, making his stay in the UK illegal -- appears on the electoral rolls in the UK, a media report said today. His country home in Britain's Hertfordshire has been given as his recorded address.

Mr Mallya owes nearly a billion dollars to banks in India and faces legal proceedings. His Kingfisher Airlines has been accused of having defaulted on loans of over Rs 9,400 crore. The ministry is consulting legal experts on his deportation.

The 60-year-old, who strongly rejects any suggestion of wrongdoing and denies that he has deliberately absconded from India, has been living at a three-storey mansion called Ladywalk in the village of Tewin, just over an hour's drive north of London.

According to 'The Sunday Times', Mr Mallya confirmed that "my official address in the UK is at Ladywalk", adding that he had supplied this information to the Indian authorities.

The 11.5-million-pound mansion was bought from the father of British Formula One champion Lewis Hamilton by a company with offshore links.

"The ownership structure of Ladywalk is perfectly legal," the newspaper quoted Mr Mallya as saying.

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 170 billion pounds of UK property, much of it in London and the home counties.

British Prime Minister David Cameron is set to use an anti-corruption summit next month to demand more transparency on such future purchases.

Mr Mallya, however, told the newspaper there was no "concealment or tax avoidance involved" and said that he has been a "British resident" since 1992.

The report notes that official documents list the owner of Ladywalk as a limited liability partnership called Ladywalk LLP.

It has two members, including a company called Continental Administration Services, which is registered in St Kitts and Nevis, a Commonwealth country in the Caribbean regarded as a tax haven.

A loan to finance the property purchase in July 2015 was made by the Edmond de Rothschild private bank in Switzerland. Official papers name the borrower as Ladywalk Investments, a company incorporated in the British Virgin Islands, another tax haven.

Mr Mallya has described an arrest warrant against him as "erroneous and unjustified" and has recently tweeted: "I fully respect and will comply with the law of the land." His passport, which had been suspended earlier, was also revoked today.

Mr Mallya had left India on March 2. He has refused to appear before the Enforcement Directorate (ED) on three occasions when summoned between March 10 and April 2.

The Enforcement Directorate has said it will also seek an Interpol arrest warrant against Mr Mallya based on a non-bailable warrant issued last week by a Mumbai court in a money laundering case.

 


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