In fresh action against the man who was once known as the ‘King of Good Times’, India’s Supreme Court has released details of assets held by Mallya, his three children and estranged wife, to the group of banks led by SBI on a formal request by attorney general Mukul Rohatgi. It asked banks to inform the action to be taken based on the details, within two months.
Slamming Mallya for not honouring its April 7 order, an SC panel directed him to deposit a specific amount in the court, give a tentative date for his return to India and disclose all properties held by him and family members in India as well as overseas. The consortium of banks had blamed Mallya for not cooperating in the investigation of cases lodged against him and for not disclosing details of his foreign assets.
When contacted, Rohatgi had said, “We have filed a rejoinder to Mallya’s affidavit in which it has been stated that he is not indicating the date of his return to the country,” adding that Mallya has also not agreed to deposit a “substantial amount” as part of the £940 million loan due to him to establish his bonafide. “We have nothing to do with Mallya’s claim that he cannot appear personally because of government’s action against him,” the affidavit said.
The rejoinder was in response to the liquor baron’s affidavit saying the banks have no right over the information of his overseas movable and immovable assets as he was an NRI since 1988. Mallya had claimed that as an NRI, he was not obliged to disclose his overseas assets, and added that his three children, wife, all US citizens, also need not disclose their assets. “Overseas assets were not considered while granting loans,” his statement had read.
Mallya faces a joint attack as he continues to ignore orders from banks and the Enforcement Directorate. Snuck in the luxury of his UK mansion, strict action has been taken against him with the most recent being the cancellation of his passport. A Mumbai court has also issued an arrest warrant against him, and the next step will be expulsion of his membership from the Parliament. The Ethics Committee of Rajya Sabha has given the tycoon a week to furnish his defence before his membership is withdrawn from the Upper House. Sharad Yadav, member of the committee, stated Mallya’s membership is already “all but gone”. The panel served a notice to him seeking explanation for these serious errors. “All members wanted Mallya to be expelled. But chairman Karan Singh pointed out that before recommending expulsion, we must allow Mallya to defend himself,” said a member of the committee.
“We have examined the entire issue related to Mallya’s case. The documents that we had sought from banks have also come. There was a unanimous view in the panel that he should be expelled from the House. But we have still decided to give him a week’s time to tell us whatever he has to say. The next meeting of the committee has been fixed on May 3, when we will take a final decision,” Singh said after the meeting.
Mallya is neck deep in trouble as the Indian External Affairs Ministry is also in the works, consulting legal experts on his deportation. As India tries to corner the businessman from all sides, he has persistently maintained his stand, denying any wrongdoing and the fact that he is absconding.
My official address in the UK is at Ladywalk
On the run after his millions of dollars worth of loan stint in India, Mallya found himself a cosy home in Britain. He has two houses; one in the central posh area of the metropolis on Baker Street, just behind the famous Madame Tussauds wax museum, and another, a modern three-storey lavish estate in Tewin, Hertfordshire.
Mallya has chosen to steer clear of media attention.
The £11.5m mansion called Ladywalk was bought from Formula One champion Lewis Hamilton’s father, by a company with offshore links. Spread over 30 acres, Mallya’s is the biggest bungalow on Queen Hoo road with its iron gates closely guarded by personal security. With a loan defunct as big as over £1bn in India, the Kingfisher owner sure knows how to stay in style as locals reported of seeing him cruising around the small streets in his swanky cars. As the Enforcement Directorate back home tries to close in on the former Force India Formula One team owner, Mallya seems visibly unfazed, living the life he knows best.
While he has avoided any kind of media interaction, he recently confirmed that Ladywalk is his current address. With the strict charges he faces, he denied any wrongdoing, saying, “The ownership structure of Ladywalk is perfectly legal.”
Mallya in electoral rolls in the UK
A media report has emerged citing that the tycoon’s name appears on the electoral rolls in the UK with Ladywalk as his recorded address.
