London: Money laundering capital of the world

[Vikrant]

It looks like UK has become a sanctuary for shady people.

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NEW DELHI: Vijay Mallya is the not the only Indian in UK whose extradition is being sought by Delhi. He has joined Lalit Modi , Nadeem Saifi (wanted in Gulshan Kumar murder case) and 12 others who have evaded extradition despite efforts of successive governments over the last two decades.

After UK turned down Delhi's request for deporting Mallya citing domestic laws on the validity of his passport at the time of his entry in London, the Modi government has sought his extra ..

Read more at:
60 extradited to India In 14 years but none from UK - The Economic Times

 

[montelatici]

We had an Indian partner for defense contracts in India. They were a fairly large conglomerate. While they employed thousands and had large plants in India, the real boss lived in London and all agreements and contract negotiations took place in London, he could not go back to India as he had been convicted of all sorts of financial indiscretions. He had a number Bentleys and RRs in his motor pool and he would often have a driver take us around in his powder blue Bentley, quite a color.

 

[Vikrant]

NEW YORK/LONDON: Legal proceedings in India against beleaguered businessman Vijay Mallya have now come to haunt his US-based brewery firm, which is banking on $1 million bridge loan promised by his holding firm for survival.

"Vijay Mallya, the company's chairman and indirect majority shareholder, is presently subject to certain legal proceedings in India, which may impair the company's ability to obtain financing from UBHL (United Breweries Holding Ltd) and other potential funding sources," California-based Mendocino Brewing Company Inc said in a regulatory filing.

Mallya, who is at the centre of a major controversy for the huge loan defaults by his group in India, controls over 68 per cent shareholding held through UBHL in Mendocino.

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Vijay Mallya's India woes now troubling his US beer firm - Times of India