Mallya lives in $15 mn British mansion bought from Hamilton’s dad: report

  • IANS, New Delhi
  • Updated: Apr 25, 2016 14:57 IST
Vijay Mallya’s passport has been revoked after he failed to turn up for a probe into a Rs.9,000 crore default of loans from banks (PTI)

Liqour baron Vijay Mallya, who owes Rs 9,000 crore 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.

Read more: Not just Mallya: 6 cases where India tried to bring back the accused

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.

Read more: Mallya in Lalit Modi-like situation after passport revocation

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.

Mallya is one step closer to being deported from Britain after his passport was revoked by India’s external ministry on Sunday.

Read more: What led to the revocation of Vijay Mallya’s passport

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

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