Every one in corporate India knows the secret of Mallaya's F1 , IPL , Yacht , Airplane , Monte Carlo home worth Rs 750 cr & his crores worth of villas every where..that need hundreds of crores to maintain his image as King of Good times
http://www.zimbio.com/Vijay+Mallya/articles/39/Vijay+Mallya+buys+island+off+Monte+Carlo+Rs
He has no overseas income to speak of and gets only a salary & dividends from UB which will hardy support the fun he has daily ...how does he manage ...well there was a recent article in Forbes India on the second biggest alcoholic spirits group Diageo has half the sales , its profits are around 700 to 800 cr , almost 60% of Mallaya's UB .
Any fool can estimate that Mallya has economies of scale so the profits need to be much higher than the 500 - 600 cr he shows . It is a matter of faith with the Ambanis , Essars & Malayas to siphon off shareholder's funds to support their extravagant life styles & investments in new ventures. Is done thru routing siphoned off funds thru a maze of Indian & overseas investment & holding companies that no CA can understand .
Is a mirror case of our politicians siphoning of people's funds to own ventures , NGOs , buying, property , cash in bank & growing a 100 to 1000 fold richer every 5 years .
A business man gets a salary & dividends from his company. If Mallay's
luxry investments and the cost of running them are tallied it will be seen that he falls far short , rather he does not even spend what he earns , his luxury investments & life style some how very mysteriously "earns" money to run its self.
We need to attack corporate corruption to big time , RTI needs to be made applicable to them as shareholder's funds & consumers are being robbed . And then we need lok pal's ambit to send them to jail .
Our Mallay's need to be forced to declare their overseas business & private income , assets , accounts , sources of funds to come clean .
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