Vijay Mallya Gifted $40 Million to his Children: ED's Dossier
Liquor baron Vijay Mallya, who is wanted in India for defaulting on loans worth Rs 9,000 crore had transferred USD 40 million to his three children through gift settlements.
A file image of ex-chairman of United Spirits Ltd Vijay Mallya, who is now being probed for a loan default case. (Photo: Reuters)
New Delhi: Liquor baron Vijay Mallya, who is wanted in India for defaulting on loans worth Rs 9,000 crore had transferred USD 40 million to his three children through gift settlements.
In an affidavit submitted before the apex court, he stated that the money had been transferred to his three children—Siddharth, Leena and Tanya Mallya — who were US citizens and sole beneficiaries of the three respective trusts of which he had no control in his individual capacity.
Mallya, who has been declared an absconder in India, was arrested by Scotland Yard police and produced before the Westminster Magistrates' Court there and was subsequently granted bail.
To read the full story, click here...
Recommended For You
- South Africa vs Bangladesh, Live Cricket Score, 3rd ODI, East London
- Golmaal Again Review: So Little of it Feels Fresh, Original
- This Bigg Boss 11 Audition Video of Dhinchak Pooja Is Breaking the Internet
- WhatsApp Live Location: Say Hi to This New Feature to Sour Your Relationships
- Rani Mukerji's Father and Filmmaker Ram Mukerji Dies at 84