Probe whether shell cos. involved in Mallya's mansion: JD-U
Embattled liquor tycoon Vijay Mallya's USD 20 million 'sky mansion' in Bengaluru today found mention in the Rajya Sabha, as a demand was made for a probe into whether shell companies were involved in funding it.
Embattled liquor tycoon Vijay Mallya's USD 20 million 'sky mansion' in Bengaluru today found mention in the Rajya Sabha, as a demand was made for a probe into whether shell companies were involved in funding it.
Raising the issue through a Zero Hour mention, Harivansh (JD-U) said shell companies have become vehicles for carrying out illegal activities, including money laundering and converting black money into white.
He cited reports of the Income Tax department's recent action against shell companies as also the CAG pulling up the department on selective action against shell companies.
Against 15 lakh companies registered in the country, only 6 lakh pay income tax, he said and then went on to mention the mansion-style penthouse in Bengaluru.
He said the 40,000 sq ft penthouse across two levels, has a helipad on the top.
Without naming Mallya, he said the penthouse belonged to a person who owns Rs 6,203 crore in principal loan to State Bank of India and Rs 9,000 crore together with interest.
The construction and funding of the mansion and "its relation with shell companies" has to be found out, he said.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)