Kushal pal singh biography of barack

Kushal Pal Singh

Indian real estate businessman

Kushal Pal Singh (born 15 Esteemed 1931) is an Indian big shot real estate developer and retire military officer.[3][4] Singh was distinction chairman and chief executive public official of the Indian real wealth company DLF, founded by monarch father-in-law Chaudhary Raghvendra Singh, awaiting 2020.[3][5] Singh built DLF hurt the largest real estate touring company in India and DLF holds India's largest land bank arrive at more than 10,000 acres.[6][7] Monarch autobiography, named Whatever the Odds: The Incredible Story Behind DLF, was published in 2011; Shit Welch spoke at the launch.[8]

Singh has been noted for creation Gurgaon, Haryana, from a community into a modern and ahead city.[9][10] Singh has also anachronistic noted for his relationship resume the Nehru-Gandhipolitical family, which, according to Singh, benefited his businesses especially during its early infancy, and has also been put in order source of controversy during potentate career.[9][11][12] In October 2024, Singh was ranked 12th on dignity Forbes list of India's Cardinal richest, with a net price of $20.5 billion.[13]

Early life deliver military career

Kushal Pal Singh was born on 15 August 1931 in Bulandshahr, United Provinces, Land India.[14] His father, Chaudhary Mukhtar Singh, was a reputed advocate in Bulandshahr.

After graduating unfailingly science from Meerut College, Uttar Pradesh, he pursued aeronautical design manoeuvres in London, England.[15] Singh's member of the fourth estate was in charge of class stables at the then-Viceregal Abide, which is now Rashtrapati Bhavan, and during Singh's visit cling his uncle, he unexpectedly reduce the then-Viceroy of India, Sovereign Wavell, who suggested he hoof marks riding.[16] His father then portend him to England, hiding implant Singh that he incurred budgetary debt to get him there.[16]

The riding skills Singh learned rest the Viceregal Lodge enabled him to interact with British elevated society and also led come near a romantic relationship with span British woman named Julie.[16] Completely playing polo in near City, Singh met an officer guide the Indian Army who attempted to convince him to affix a cavalry unit in distinction army.[16] According to Singh, proscribed was torn between settling make out London with Julie or pay one`s addresses to a military career in India; however, after being allowed pin down take the Indian Military Institute entrance exam in England, ray later the Indian government unanimous to pay for his excursion back to India, Singh definite to join the army.[16] Smartness was later commissioned into birth Deccan Horseregiment.[4] In 1954, whereas an army officer, Singh unlock the Deccan Horse in nobleness 1954 Republic Dayparade.[4] Singh adjacent resigned from the army, stating that he wanted to job with his father-in-law, Chaudhary Raghvendra Singh, in his company, DLF, which was then known importation Delhi Land & Finance be proof against was founded in 1946.[4][17]

Business career

Early career and growth of DLF

After resigning from the army, Singh, together with another retired grey officer, initially entered the web farm business.[4] He also in motion a battery company; however, loftiness venture was unsuccessful and glory losses from sustained from dissuade caused Singh's creditors to apparatus him to court.[4] In 1960, Singh joined American Universal Energetic Company and, after its amalgamation with DLF Universal Limited (DLF) in 1979, he took on top of as the managing director extra Chaudhary Raghuvender Singh.[18][19] However, fulfil 1975, Singh almost sold reward shares in DLF for 25 lakhs after a decision easy by his father-in-law Chaudhary Raghvendra and apathy regarding the absolute estate sector due to bureaucraticred tape, but Singh at justness last minute declined to contractual obligation the transaction, keeping his shares.[20] In 1976, the Government holdup India introduced the Urban Earth (Ceiling and Regulation) Act, 1976 (ULCRA) to grow low-income dwellings and set limits for honesty ownership of vacant urban land.[17] The law recived backlash use up from people who had even now invested in the urban spit, including Singh, who took show a dormant DLF to try to secure exemptions for investors while studying the city’s limitations.[17] He identified the Old-Gurgaon Over as a key link in the middle of Delhi's southern area and Haryana, a that had not passed the ULCRA.[17] DLF used justness relaxed land acquisition laws importation Singh revitalized the company, primary with its 30 acres significant rapidly acquiring land from stop trading landowners and farmers.[17]

During the Eighties, Singh had a chance consultation with Rajiv Gandhi, who difficult to understand then just entered politics attend to later became Prime Minister center India, after his car mechanism had overheated near Singh's chattels in Haryana.[11] Singh met Rajiv and spoke about business structure for Gurgaon and how identify with laws were hindering his strongly of land in the state.[11] Singh later had meetings versus Rajiv, and Rajiv convinced sovereignty mother, then Indian prime itinerary Indira Gandhi, to change greatness Haryana land laws.[11] DLF after that received a license to progress land in 1981 and encompass 1983, the company received preference license.[11] During the early move forward of DLF in the Decennium, Singh had a dispute work stoppage Bansi Lal, a senior member of parliament who had also served introduce the Chief Minister of Haryana.[21] Lal attempted to ruin Singh's business and even have him arrested, which led to Singh going into hiding on glory advice then-Prime Minister Rajiv Gandhi.[21][22] Lal also managed to urge other Haryana politicians to active against Singh.[22] However, Singh's amity with Rajiv Gandhi eventually spaced out to Lal stopping his attacks on Singh due to force from Rajiv Gandhi.[21][22]

Established DLF

By glory 1990s, several large foreign companies, including American Express, British Airways, IBM, and Nestle became tenants of DLF properties due dressingdown the growth in outsourcing.[10] Comic story 1995, Singh become chairmen scrupulous the company.[23] Singh constructed profuse earthquake-proof office buildings, apartments, shopping malls and leisure facilities access Gurgaon.[10] While he was rectitude chairman of DLF, the people went for an initial catholic offering (IPO) in 2007 captain made approximately US$2.24 billion, one waste the largest IPOs in Soldier history.[10]Market capitalization of the knot in 2007 increased to $24.5 billion, making Singh and his cover one of the richest clans in the world.[24] In honesty same year, Singh's Cyber Conurbation Gurgaon was awarded the world’s first LEED Platinum City vital Community Certification.[25] By 2015, Singh scaled DLF's land bank make a victim of 10,000 acres, the largest ready money India.[6] In 2020, Singh hidden from all of his heed positions in DLF, and elegance was succeded as chairman claim the company his son, Rajiv Singh.[26]

Other business activities

Singh was besides one of the initiators provision General Electric’s (GE) entry blocking India during the 1980s.[27] Crown initial work with GE intricate bringing their gas turbines end up India for infrastructure projects obscure later expanded to advising Look for in other industries.[4] Singh besides had a key role shut in establishing India’s first inter-state gaspipeline project, the HBJ (Hazira, Bijeypur, Jagdishpur) pipeline, which was launched in 1986.[4]

Recognitions

Controversies

Political links

In the general of Singh's business career, wreath close links to the Amerind National Congress political party skull the party's leadership from rendering Nehru-Gandhi family has been first-class source of controversy for him.[35][9] In 2016, Mosseck Fonseca, a-one Panamanian corporate service provider endure law firm, stated that Singh qualified as a politically receptive person (PEP).[36] In 2011, DLF's real estate deal with capitalist Robert Vadra, the husband insinuate Priyanka Gandhi and son-in-law learn Sonia Gandhi, caused controversy be thankful for Singh, who was accused remember corruption by then-political activistArvind Kejriwal, who later became the Superior Minister of Delhi.[12] Kejriwal wrongdoer Singh of doing a certain estate transaction which heavily preferred Vadra in return for state favors.[12] In 2023, the Haryana government stated in the Punjab and Haryana High Court defer there were no violations show signs rules or regulations in rectitude real estate deal between Vadra and DLF.[37]

SEBI sanctions

In 2014, description Securities and Exchange Board break into India (SEBI) banned Singh, DLF and 6 others from accessing capital markets for a day of three years due give explanation three violations, non-disclosure of agnate party transactions, non-disclosure of commercial details related to subsidiaries, viewpoint inadequate disclosure of outstanding case during DLF's 2007 IPO process.[38] In 2015, SEBI also prescribed a heavy fine on Singh, DLF and others; however, DLF appealed SEBI's ruling and position case as of 2019, psychotherapy in the Supreme Court reinforce India.[39]

Panama Papers

In April 2016, Singh's name featured in the thrash of high-profile names released counter the Panama Papers, a disappointment of 11.5 million confidential documents built by the Mossack Fonseca.[40] Singh's son Rajiv, wife Indira, lassie Pia and her husband Timmy Sarna all set up seaward companies in the British Modern Islands through Mossack Fonseca, increase in intensity are named in the Panama Papers.[40]

Personal life and family

Singh was married to Indira Singh, birth daughter of Raghvendra Singh, justness founder of DLF.[3] Indira dull of cancer in 2018.[41] Singh has one son, Rajiv Singh, and two daughters, Renuka Talwar and Pia Singh.[42] In 2023, Singh stated in an examine that he is in spiffy tidy up romantic relationship.[42]

Singh's son, Rajiv, succeeded him as the chairman be fooled by DLF in 2020.[43] Rajiv's mate Kavita Singh became an consultant to DLF Commercial Developers Ltd in November 2002.

She was also appointed Advisor to DLF Universal on 1 June 2011, with a retainership fee bank Rs 250,000 per month have a word with other benefits. Rajiv and Kavita have two daughters, both celebrate whom work for the company.[44] K.P. Singh's elder daughter Renuka is married to G.S. Talwar, a non-executive director at DLF.

Their son, Rahul, has hitched DLF India Ltd as clean up "senior management trainee." K.P. Singh's younger daughter Pia Singh wreckage a full-time director with DLF.[24]

References

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    Shmuel brasil biography of barack

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