Panama Papers Offshore Leaks explains how Vijay Mallya siphoned off the money

While banks are having a hard time with Vijay Mallya being unable to recover a huge NPA, Mallya is  said to be holidaying in London. The banks are complaining he has siphoned off the loan given to Kingfisher Airlines.

When I searched few names in Offshore Leak, the web page returned the name of Dr Vijay Mallya. I was well expecting his name in the Panama Papers. Dr Mallya owns Venture New Holding Ltd in the tax heaven of North East Carribean nation- British Virgin Island. He is also the beneficiary owner of this firm. This holds another firm Sharecorp Ltd which is registered in India. Through this company Vijay Mallya was able to have business links with different countries like Singapore, China, Britan, Italy, USA to name few. He could have siphoned off the money through this network, also avoiding the taxation. The profit was routed back to him through Venture New Holding Ltd, legally avoiding the tax, being registered in the tax heaven, British Virgin Island.

Vijay Mallya holding shadow company in British Virgin Island.
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He could have owned the asset through these firms more than that is required to liquidate his loans. It is impossible for anyone to hold a company in a tax heaven like British Virgin Island without any interest of siphoning off the money or tax avoidance. The banks should pursue the matter with the investigation agencies to look into the Mallya's case in a different angle.

Bihar's Jungle Raj is back in form: Youth killed for overtaking JD(U) leader's son's vehicle

Imagine. You are driving your car on a highway in Bihar. You overtake an SUV. The people in SUV questions you for driving your vehicle faster than their vehicle. As a punishment for your superfast driving and overtaking them, you are shooted and killed.

This is happening in Bihar. JD(U) and RJ(D) alliance has brought the Jungle Raj back in Bihar. The politicians are acting as if they are the kings in the Jungle Raj.

"The Hindu" news clipping on this incedent:

"The incident happened when the son of a prominent businessman of the town, Aditya Sachdeva, a plus-two examinee, was traveling in his Swift car with his friends and allegedly overtook the SUV (Sports Utility Vehicle) driven by Rocky Singh Yadav, son of JD(U) MLC Manorama Devi under Rampur police station of the district. Rocky was travelling in his car along with a security guard provided by the Bihar Police for the politician.

“We’re returning from Bodh Gaya and soon after we overtook the SUV they started firing in the air and made us stop. Then they forced us to get out of the car and started punching us. When we tried to leave the spot, someone fired and my friend got hit”, said friend of Aditya Sachdeva who was accompanying him in the car."

This is not a stray incendent. These kind of news are frequently being reported from Bihar after JD(U) and RJD coallition assumed power.