17 banks’ money belching out luxury in London! 2 wives and one partner, how does Mallya manage his royal expenses?

Vijay Mallya Birthday Special: India’s ‘fugitive number-1’ Today is the birthday of so-called Vijay Mallya. He was born on December 18, 1955. It has been almost 9 years since Mallya left the country. Whenever the pictures of Mallya, who fled to London with around Rs 9,000 crore from 17 Indian banks, surface, they are of some royal festival or race course. The question that arises is whether a person who has been declared a ‘fugitive economic offender’ by the courts of India? Has been declared and whose property has been confiscated, how is he living such a luxurious life in a foreign country?

In 2016, when pressure from 17 banks under the leadership of State Bank of India (SBI) increased, Vijay Mallya fled to London overnight. The loan taken for his defunct Kingfisher Airlines became a thorn in his neck. His ‘Kingfisher Villa’ in India and ‘Kingfisher House’ Such properties have been auctioned, but it does not seem to have any impact on Mallya’s influence.

Two wives and one live-in partner

Mallya’s life has always been in the news more for his personal relationships and parties than for his business. Mallya’s first marriage was to Air India air hostess Sameera Sharma. They have a son, Siddharth Mallya. After this, in 1993 he married his childhood friend Rekha. Rekha and Mallya have two daughters – Leia and Tanya. Presently Mallya lives in London with his partner Pinky Lalwani. Pinky previously worked in Kingfisher Airlines. She has stood by Mallya’s side like a shadow in all his bad times and is often seen with him in the London court.

How does Vijay Mallya’s ‘royal expenses’ run?

This is the biggest question that during the hearing in the British courts, Mallya described himself as ‘pauper’ several times. Told, but their reality tells something else. According to experts, there are several main sources of his expenses. Most of Mallya’s global assets are not in his own name but in a ‘family trust’ Are in the name of. The beneficiaries of these trusts are their children or other family members, making it difficult to legally seize those assets.

Investigating agencies believe that Mallya had diverted a large amount of loan to foreign accounts. His ‘Ladywalk’ near London The bungalow situated there is also said to be in the name of his mother. British court vijay mallya are allowed to withdraw a fixed weekly sum (in thousands of pounds) from a fund of seized properties to cover their legal expenses and living expenses.

The sword and legal entanglement of extradition

The Indian government has won all the legal battles for Mallya’s extradition. The Supreme Court of Britain has also approved his extradition. However, a “secret legal process” His return to India has been put on hold due to (believed to be a request for political asylum). The story of Vijay Mallya is a living example of the shortcomings of the Indian banking system and the legal maneuvers of a shrewd businessman.

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Despite being indebted to crores of rupees, the kind of luxurious life he is living in London is beyond the reach of the common taxpayers of India and those bank employees This is a bitter truth for those who are still waiting for the recovery of that money.