Who owns 'homeless' Vijay Mallya's London homes?

NEW DELHI: A couple of days ago, fugitive liquor baron Vijay Mallya mentioned there wasn't much to grab of his British assets as his circle of relatives’s lavish apartments weren't in his identify.

“I've given the United Kingdom court docket on affidavit a statement of my UK assets. Which, pursuant to the freezing order, they are entitled to take and quit to the banks,” he mentioned. “There’s a couple of vehicles, a couple of pieces of jewellery and I mentioned ‘OK, high quality. You don’t have to hassle to come to my house to grab them. I’ll physically hand them over. Tell me the time, date and position,’” Mallya mentioned.

But then, who owns the properties the place Mallya lives? It's a puzzle that Arthur Conan Doyle's famed fictional super sleuth Sherlock Holmes would have most likely solved in a couple of minutes. As ironic as it'll appear, Mallya, whom the Indian investigating businesses are struggling to nab, has a pad in London which is with regards to the 221B Baker Street - the fictional home of Holmes.

According to Mallya, his Tewin property belongs to his children and his London the city house to his mom. But, banks say his homes are connected to his circle of relatives consider via a web of businesses.

Google Maps recommend that 18/19 Cornwall Terrace, Mallya's place of dwelling, is also in proximity to the iconic wax statue museum Madame Tussauds and the 'birthplace of Bentley vehicles'.

The belongings is owned through British Virgin Islands-based corporate RCV. RCV is owned through Gladco Properties, which is, in turn, owned through Continental Administration Services Ltd (CASL)—founded in offshore tax haven St Kitts and Nevis—a trustee of the Sileta Trust, a Mallya circle of relatives consider.

The other belongings, his Hertfordshire property in Tewin, Ladywalk and Bramble Lodge, worth an estimated £15 million, additionally has hyperlinks to the circle of relatives consider.

The property's mortgage is in the identify Ladywalk LLP, which has two members: CASL and Switzerland-based Andrea Rishaal Vallabh, who is a member and director of CASL. Ladywalk Investments Ltd, registered in the British Virgin Islands, is wholly owned through Sileta Holdings Ltd, which is wholly owned through CASL, as trustee of the Sileta Trust. It lent Ladywalk LLP £7.2 million (Rs 65.four crore) in 2015 to buy the valuables.

Who owns 'homeless' Vijay Mallya's London homes? Who owns 'homeless' Vijay Mallya's London homes? Reviewed by kailash soni on July 11, 2018 Rating: 5
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