Days after fugitive Vijay Mallya was arrested by the British police in London and released on bail within
minutes by a London court, Britain’s Serious Fraud Office (SFO) has now discovered that the absconding
liquor baron’s plush London residence, Lady Walk was bought using the Indian taxpayer’s money.
As reported by India Today Tv, a confidential note prepared by the CBI mentions that Mallya made a
payment of about Rs 39.7 crore to Continental Administrative Services, from Kingfisher Airline’s HSBC
account in London. The CBI stated that British company, Continental Administrative Services “is having
the ownership interests in the property at Lady Walk, London.
Brittain’s SFO has shared the details of their probe on Mallya’s money laundering case to the CBI, which
also includes his present residence in London, LadyWalk, a property which previously belonged to F1
champion Lewis Hamilton.
The SFO further informed the Indian probe agency that the absconding businessman had also
transferred at least Rs 242 crore from the Kingfisher Airlines Axis Bank account to its accounts in
London. In its note to the CBI, the SFO stated, “The loans disbursed by various Indian banks were routed
through the said Axis Bank accounts.”
Being accused of defrauding Rs 9000 crore tax payer’s money given by a consortium of 17 banks,
beleaguered business tycoon, Vijay Mallya, from alone IDBI Bank, has laundered around Rs 500 crore of
the Rs 900 crore loan taken. Earlier, in June this year, while the Enforcement Directorate was filing
charge-sheet of money-laundering against Mallya, the liquor baron tried to transfer funds worth Rs 117
crore, from his companies in London to the CBH Bank in Switzerland.
In a letter to the British and Swiss authorities, the CBI sought for a freeze on these assets , stating that
the Indian probe agency felt that “there are reasonable grounds to believe that the funds used for
acquisition of the property at Lady Walk and the funds lying in the accounts of the aforementioned
British companies originated from the proceeds of loans disbursed by Indian Banks".