The industrialist Vijay Mallya has been declared as a willful defaulter by the Indian banks, figures in the off shore leaks by the International Consortium of Investigate Journalist (ICIJ) whose Panama Papers have rocked the entire world few days.


The informations which are detailed from the ICIJ website has showed a British virgin islands firm have ventured a new Holding Limited which was operational from February 15th 2016, is directly linked to the liquor barren Vijay Mallya and not to any of his companies.


The operations of New Venture Holding were carried out from 3 Vittal Mallya road in Bengaluru, which is Mallya’s residential address and his off shore has a direct link to a firm named Porticullus Trust Net, according to ICIJ is an one stop solution for setting up the off shore accounts.


Sharecorp Limited has been operating as nominee shareholder of several other firms which include many offshore firms which was operated by the Indians. The UK’s Financial Conduct Authority  have shared informations about the Venture New Holding  and it is under investigation by the securities and Exchange Board of India.



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