Panama Papers: Mallya’s offshore firm under scanner

| Friday, April 8, 2016 - 12:15
First Published |
Vijay Mallya

Bengaluru: Following the Panama Papers leak, new revelations have come to light. Beleaguered liquor baron Vijay Mallya, who has been declared a wilful defaulter in the money laundering case, is also involved in offshore leagues.
International Consortium of Investigation Journalist (ICIJ), which revealed a lot of big names in their leak, confirmed the details of the firm on their website. Details show British Virgin Island firm ventured New Holding Limited, which has been operational since February 15, 2006, is linked directly to Vijay Mallya. Operations of the company were carried out from Mallya’s Bengaluru residence. 
Mallya holds Isle of Man, a small island located in the Irish Sea. He had a particular trust set up by his father Vittal Mallya which was used for acquisitions known as ‘Golden Eagle Truck’.
Recently, Supreme Court had asked Mallya to disclose all his assets by April 21. The order of the Apex Court came soon after the consortium of 14 banks, headed by the State Bank Of India (SBI), told the SC that it had rejected Mallya's offer to pay Rs.4,000 crore by September 2016.

Download English News App and stay updated with all Latest News.
For News in English, follow us on Google+, Twitter and on Facebook.

Add new comment

This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.