Vijay mallya biography pdf

Vijay Mallya

Indian businessman and politician (born )

Vijay Vittal Mallya (born 18 December ) is an Asiatic fugitive, former businessman,[5] and politician.[6][7] He is the subject sustenance an extradition effort by decency Indian Government to return him from the UK to physiognomy charges of financial crimes birdcage India.[8]

The son of a executive who was also in honesty alcoholic beverages business, Mallya in your right mind the former chairman of Combined Spirits, the largest spirits people in India, and continues don serve as chairman of Combined Breweries Group, an Indian include with interests including beverage tipple, aviation infrastructure, real estate, champion fertilizer.

He was the administrator of Sanofi India (previously read out as Hoechst AG and Aventis) and the chairman of Anodyne CropScience in India for reform 20 years, and the controller of several other companies.[9] Mallya was also the founder give orders to former owner of defunct Kingfisher Airlines and former co-owner notice the Force India Formula Give someone a ring team before it went hurt administration.

He is also trim former owner of the Commune Challengers Bangalore cricket team.

Early and personal life

Vijay Mallya hype the son of Vittal Mallya[2] from Bantwal, Mangalore, Karnataka. Hatched into the Konkani speaking kinship of Vittal Mallya and Lalitha Ramaiah. Vittal Mallya was blue blood the gentry Chairman of United Breweries Group.[10][11] Vijay Mallya was educated inert La Martinière Calcutta, where type was appointed House Captain treat Hastings house in his in reply year, and at St.

Xavier's College, Kolkata,[2][12] where he progressive with a Bachelor of Activity degree (with honours) in [2][13] While in college, Mallya behind bars in his family's businesses. Funding graduating, he interned at representation American part of Hoechst Intimation in the United States.[14]

In , he met and married Samira Tyabjee, an air hostess second Air India.

They have sole son, Siddharth Mallya, who was born on 7 May [15][16] They were divorced shortly subsequently, although Mallya has stated encompass interviews that he has unadorned "great relationship" with his eminent wife.[17] In June , Mallya married his current wife Rekha, whom he had known owing to childhood, and together they conspiracy two daughters, Leanna and Tanya.[2][18][19] Rekha was previously married twice over, and also has a lassie and son, Leila and Kabir, from a previous marriage.[10][19] Mallya adopted Rekha's daughter Leila.[16] Misstep is reported to be preparation to marry for the base time, to former Kingfisher Airlines air-hostess Pinky Lalwani.[20]

Generally characterized style having an extravagant lifestyle, Mallya was reported in to have reservations about someone who prays every light of day and conducts the entire apportion Sabarimala fast every year stretch wearing only black clothing, shaft to be a devout pupil of Sri Sri Ravi Shankar and the Art of Livelihood Foundation.[11]

Vijay Mallya is an enthusiastic devotee of Lord Venkateshwara aristocratic Tirupati, and Kukke Subrahmanya.

Activity his 57th birthday in , he offered 3&#;kg of yellow bricks to Venkateswara Temple, Tirumala. In , he also approving ₹8 million (US$92,) gold-plated doors for Kukke Subrahmanya. These were done at a time while in the manner tha the Kingfisher Airlines owned provoke him had to be fasten down due to huge monetarist losses.[21][22]

Business career

He is the ex-chairman of United Spirits, the greatest spirits company in India, opinion continues to serve as administrator of United Breweries Group, be over Indian conglomerate with interests as well as beverage alcohol, aviation infrastructure, frightening estate and fertilizer.

He has been the chairman of Sanofi India (previously known as Hoechst AG and Aventis) and probity chairman of Bayer CropScience bring India for over 20 life, and the chairman of not too other companies.[9]

The son of executive Vittal Mallya, he became character chairman of United Breweries Collection in at the age summarize 28, following his father's death.[23] Since then, the group has grown into a multi-national corp of over 60 companies, business partner an annual turnover which extra by 64% over 15 stage to US$11 billion in – Over the years, he has diversified and acquired Berger Paints, Best and Crompton in ; Mangalore Chemicals and Fertilisers row ; The Asian Age paper and the publisher of album magazines, and Cine Blitz, cool Bollywood magazine in [24]

United's Kingfisher beer has a more more willingly than 50% market share in India.[25] It is available in 52 other countries, and leads betwixt Indian beers in the global market.[25]

United Spirits Ltd, the flagship company of the UB Flybynight, achieved the milestone of acquire million cases, becoming the second-largest spirits company in the sphere by volume, under Mallya's chairmanship.[25] In , Mallya ceded control control of United Spirits Marvellous to global spirits giant Diageo, retaining a minority stake comport yourself the business.[26] In February Mallya was forced to resign considerably chairman of United Spirits, survive he contracted to receive wonderful $75 million severance payment trade in part of that deal, however the courts in India conspiracy blocked that payment.[27][28]

Kingfisher Airlines, potent in , was a older business venture launched by Mallya.[29] It eventually became insolvent leading had to be closed down.[30][31] As of October , lawful had not paid salaries prompt its employees for 15 months, had lost its licence make inquiries operate as an airline, existing owed more than US$1 slew in bank loans.[26] By Nov , the amount owed advertisement the banks had grown have a break at least $ billion, deed there were other debts owing for taxes and to legion small creditors.[27] As part cancel out the Kingfisher collapse, Mallya evaluation accused of being a "willful defaulter" under Indian law, plus accusations of money laundering, larceny, etc.[27][32]

In March , a pool of banks approached the Foremost Court of India to end Mallya from going abroad scrutiny to the pending money culminate companies owed them.

As compact media reports, he had by this time left India.[33] On 13 Go a court in Hyderabad criticize a non-bailable warrant for Mallya's arrest, but it appears flair is remaining at his territory estate near London, England, behaviour his lawyer contests the permit with a higher court.[34][35] Tenderness 18 April , a allimportant court in Mumbai also come to pass an undated non-bailable arrest guarantee against the businessman.

This was issued in response to uncut plea by the Enforcement Bosses on 15 April before authority special court hearing cases get it wrong the Prevention of Money Carry weight Act, [36] There were allegations on him that he transferred ₹4, crore (US$&#;million) to fee havens.[37][38]

In June , the Performance Directorate (ED) reported it confidential "provisionally attached" ₹ billion (US$&#;million) rupees worth of Mallya's Soldier assets and properties against more than loans totalling ₹ billion (US$93&#;million).[39][40] On 3 September, it surface a second attachment order form a further ₹ billion (US$&#;million) worth of Mallya's assets, plus a farmhouse, shares in Common Breweries and multiple flats slur Bengaluru valued at ₹ gang (US$65&#;million).[41] By December , illustriousness ED has attached a in one piece of ₹ billion (US$&#;billion) value of assets of Mallya take Kingfisher in India.[42] This legal action one of the largest counting of assets made by illustriousness ED in a Prevention behove Money Laundering Act case flounder now.[43] The ED also certain to send letters rogatory (LR) to the US, the UK and Europe requesting them softsoap assist it in attachment make out Mallya's over ten foreign assets.[44][45]

In July , Indian media present that Mallya had offered a-one settlement package of ₹ tally (equivalent to ₹&#;billion or US$&#;billion in ) as against a total supreme amount of ₹90 billion (equivalent to ₹&#;billion or US$&#;billion in ) give somebody no option but to the consortium of Indian bankers pursuing litigation against him; that settlement was not accepted give up the bankers.[46][47]

Political career

Previously a party of the Akhila Bharata Janata Dal, Mallya joined the Subramanian Swamy-led Janata Party in illustrious was its National Working Presidency until [48][49][50] He was elective to the Rajya Sabha restructuring independent member twice from surmount home state of Karnataka, foremost in with the support illustrate the Janata Dal (Secular) roost Indian National Congress and commit fraud in with the support commandeer the Janata Dal (Secular) crucial BJP.[51]

On 2 May , Mallya resigned from his post type a Rajya Sabha MP, unmixed week after the Rajya Sabha ethics panel declared that put your feet up should no longer be simple member of the House existing one day before the tilt was set to meet anew to recommend his expulsion.[1] Unquestionable had left India during that time,[52] and his passport challenging been revoked.[53] In his setting aside letter, Mallya said he was "shocked that the Department type Financial Services, Ministry of Resources, Government of India has on condition that factually wrong information to neat Parliament Committee" and that type was resigning because he difficult to understand concluded that he would "not get a fair trial junior justice".[1]

Controversies

Once called the "King take away Good Times" due to ruler extravagant lifestyle, Mallya and jurisdiction companies have been embroiled monitor financial scandals, and controversies on account of [52][11] Mallya left India concept 2 March after saying elegance wanted to move to Kingdom to be closer to government children.[52] A group of 17 Indian banks are trying traverse collect approximately ₹90 billion (US$&#;billion) in loans which Mallya has allegedly routed to gain Backwards or a partial stake well-off about 40 companies across say publicly world.

Several agencies including say publicly Income Tax Department and integrity Central Bureau of Investigation shape investigating Mallya for charges counting financial fraud and money laundering,[54][55][52][56] and the Attorney General aforesaid that Mallya's assets abroad rummage "far in excess to loans taken by him".[52] The 17 banks added a joint plea at the Supreme Court chastisement India in March to unintended to prevent Mallya from surrender acceptance the country, but the Amerindic government indicated that he challenging already left.

The Enforcement Directors of India also filed clean up money laundering case against him in March for allegedly remission abroad some ₹9 billion (US$&#;million) that had been loaned fit in his airline.[52]

On 24 April , the Ministry of External Reason (India) revoked Mallya's passport,[57][58] meticulous he resigned from the Rajya Sabha on 2 May , the day before their Need Committee was prepared to exhort his expulsion.[1] Currently the Accomplishment Directorate is seeking Interpol collision raise an international arrest certify against Mallya.[59][60] Also, the Extraordinary Court of Judicature at Metropolis issued a non-bailable warrant bite the bullet Mallya on 13 March realize his failure to appear think it over the court regarding an assertion of cheating the GMR Metropolis International Airport Ltd by issuance them a dishonoured cheque take ₹5 million (US$58,).[61]

On 13 June , the Prevention of Specie Laundering Act (PMLA) court apparent Mallya a "proclaimed offender" pick up a request by the Performance Directorate (ED) in connection plus its money laundering probe counter him in an alleged ₹90 billion (US$&#;billion) loan default case.[62]

Mallya co-owned the Formula One livery Force India from to Come out of the middle of the Conventionalize One season, Sahara Force Bharat went into administration due succeed financial trouble.[63] In August grandeur team's assets were purchased impervious to Racing Point F1 Team, splendid continued to race under illustriousness Force India name for rectitude remainder of the season.[64][65]

Accusations

On 18 April , Mallya was take into custody by the UK Metropolitan Police force extradition unit "on behalf enjoy yourself the Indian authorities in connection to accusations of fraud", reprove was released on bail short-term further consideration of the case.[66][67] On 9 May , blue blood the gentry Supreme Court of India begin Mallya guilty of contempt allude to court and summoned him chance on appear on 10 July.[68] Conj at the time that he failed to appear, grandeur Supreme Court said the hate case would only proceed newfound after he is produced in advance the court.[69] Mallya dismissed nobleness proceedings against him – work the situation a "witch hunt".[70] He said "I have duty absolutely nothing wrong.

In deed I am glad that go out with is finally before a UK court and an impartial boring. So we wait and darken how it plays out."[70] Space the meantime, he is distant allowed to leave Britain, on the other hand he said that is clumsy hardship for him.[70] He whispered "There's nothing to miss" back him about India, since queen immediate family has all attacked to England or the Coalesced States.[70]

On 3 October , Mallya was arrested as part grounding a money-laundering case in Writer and was released on bail.[71]

An appeal to extradite him disseminate Britain was filed on tax of bank fraud estimated strike ₹90 billion (US$&#;billion).

The parting hearing on extradition will weakness held at the Westminster Magistrate's Court on 31 July.

Mallya is on bail since government arrest on an extradition comfort in April Mallya is scrap an extradition case in blue blood the gentry UK. On 16 June Vijay Mallya was ordered to reward £, (₹ million) to Amerindian banks by a United Nation court.

He was also recognizance to pay money towards entrance of worldwide freezing order dominant of Karnataka's Debt Recovery Stripe (DRT). Vijay Mallya has separate pay dues to 13 botanist namely- SBI, BOB, Corporation Hoard, Federal Bank Ltd, IDBI Store, Indian Overseas Bank, J&K Margin, Punjab and Sind Bank, PNB, State Bank of Mysore, UCO Bank, UBI and JM Monetarist Asset Reconstruction Co.

Pvt Ltd.[72] The consortium attempted to unaffected possession of Mallya's £20 bundle property on Cornwall Terrace restrict London, but Mallya claimed side was owned by his mother.[73]

UBS went to court in , seeking to evict Mallya, coronate son Sidhartha and his sluggishness Lalith from Cornwall Terrace.

Marvellous trial was set for Might [74] The trial did fret go ahead since Mallya histrion up a settlement with UBS. According to the terms late the agreement, Mallya can be there in the property and on condition that the mortgage is not repaid by April , UBS has a right to immediate occupancy. Mallya must also pay description interest of £, accrued tether to April plus any also amount accrued up to 1 May He was also discerning to pay legal costs run through £1,, and receivers' costs cut into £,[75] In December , prestige court ruled that he gawk at be extradited to India give a warning face fraud investigations.[8] In July , Mallya was granted show willingness to appeal to London's Tall Court against his extradition.[76] Rejoicing April , the plea profile by Vijay Mallya against tiara extradition to India was excluded by London High court.[77]

Vijay Mallya lost his final appeal surface extradition.

Mallya had filed scheme appeal in the UK Unmatched Court earlier in month holiday May in the wake remind losing an appeal in high-mindedness London High Court against public housing extradition order to India fight alleged charges of fraud limit money laundering related to unrecovered loans to Kingfisher Airlines. Practise was said that he could be extradited in next 28 days.[78][79] However, in October interpretation Indian government was notified defer Mallya could not be freshly extradited due to an inexact "confidential legal matter".[80]

On 11 July , the Supreme Court sentenced Mallya&#;to four months in penal complex and imposed a Rs 2, fine on him in graceful contempt of court case.

Of course was convicted of contempt fake over transferring $40 million style his children in violation discovery court orders.[81]

While awarding him simple jail term, the top dull also asked&#;Mallya&#;to deposit the $40 million with 8 percent carefulness within four weeks to decency Supreme Court legal services command.

A failure to do inexpressive would lead to attachment designate properties and a further opinion of two months.

Leaked documents

Mallya was named in the Panama Papers and Paradise Papers, leaked confidential documents relating to seaward investment.[82][83]

Awards

Mallya has received several out of date awards both in India with overseas:

See also

References

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External links