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Indebted Vijay Mallya lives in a mansion worth $15 million in Britain

IANS 25 Apr 2016, 16:17:56 IST
IANS

London: Indian liquor baron Vijay Mallya, who owes Rs 9,000 crore to various banks in the country, has been living in 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.

Mallya is one step closer to being deported from Britain after his passport was revoked by India's external ministry on Sunday.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