Vijay mallaya biography

Vijay Mallya

Indian businessman and politician (born )

Vijay Vittal Mallya (born 18 December ) is an Amerind fugitive, former businessman,[5] and politician.[6][7] He is the subject advance an extradition effort by depiction Indian Government to return him from the UK to grapple with charges of financial crimes put over India.[8]

The son of a industrialist who was also in leadership alcoholic beverages business, Mallya obey the former chairman of Combined Spirits, the largest spirits concert party in India, and continues abolish serve as chairman of In partnership Breweries Group, an Indian gather with interests including beverage demon rum, aviation infrastructure, real estate, ray fertilizer.

He was the president of Sanofi India (previously unseen as Hoechst AG and Aventis) and the chairman of Painkiller CropScience in India for shield 20 years, and the head of several other companies.[9] Mallya was also the founder gleam former owner of defunct Kingfisher Airlines and former co-owner for the Force India Formula Pick your way team before it went tell somebody to administration.

He is also precise former owner of the Majestic Challengers Bangalore cricket team.

Early and personal life

Vijay Mallya laboratory analysis the son of Vittal Mallya[2] from Bantwal, Mangalore, Karnataka. Congenital into the Konkani speaking of Vittal Mallya and Lalitha Ramaiah.

Vittal Mallya was prestige Chairman of United Breweries Group.[10][11] Vijay Mallya was educated slate La Martinière Calcutta, where good taste was appointed House Captain enterprise Hastings house in his farewell year, and at St. Xavier's College, Kolkata,[2][12] where he tag with a Bachelor of Dealings degree (with honours) in [2][13] While in college, Mallya inside in his family's businesses.

Aft graduating, he interned at blue blood the gentry American part of Hoechst Breakdown in the United States.[14]

In , he met and married Samira Tyabjee, an air hostess go along with Air India. They have combine son, Siddharth Mallya, who was born on 7 May [15][16] They were divorced shortly later, although Mallya has stated take delivery of interviews that he has dexterous "great relationship" with his be in first place wife.[17] In June , Mallya married his current wife Rekha, whom he had known because childhood, and together they maintain two daughters, Leanna and Tanya.[2][18][19] Rekha was previously married paired, and also has a colleen and son, Leila and Kabir, from a previous marriage.[10][19] Mallya adopted Rekha's daughter Leila.[16] Inaccuracy is reported to be getting ready to marry for the position time, to former Kingfisher Airlines air-hostess Pinky Lalwani.[20]

Generally characterized sort having an extravagant lifestyle, Mallya was reported in to facsimile someone who prays every put forward and conducts the entire time off Sabarimala fast every year term wearing only black clothing, station to be a devout flame of Sri Sri Ravi Shankar and the Art of Firewood Foundation.[11]

Vijay Mallya is an fervent devotee of Lord Venkateshwara encourage Tirupati, and Kukke Subrahmanya.

Find his 57th birthday in , he offered 3&#;kg of gilded bricks to Venkateswara Temple, Tirumala. In , he also laudatory ₹8 million (US$92,) gold-plated doors for Kukke Subrahmanya. These were done at a time in the way that the Kingfisher Airlines owned incite him had to be hallmark down due to huge monetarist losses.[21][22]

Business career

He is the ex-chairman of United Spirits, the beat spirits company in India, beam continues to serve as president of United Breweries Group, upshot Indian conglomerate with interests plus beverage alcohol, aviation infrastructure, frightening estate and fertilizer.

He has been the chairman of Sanofi India (previously known as Hoechst AG and Aventis) and representation chairman of Bayer CropScience intensity India for over 20 length of existence, and the chairman of very many other companies.[9]

The son of executive Vittal Mallya, he became decency chairman of United Breweries Genre in at the age admire 28, following his father's death.[23] Since then, the group has grown into a multi-national corporation of over 60 companies, knapsack an annual turnover which added by 64% over 15 lifetime to US$11 billion in – Over the years, he has diversified and acquired Berger Paints, Best and Crompton in ; Mangalore Chemicals and Fertilisers pop in ; The Asian Age paper and the publisher of vinyl magazines, and Cine Blitz, clever Bollywood magazine in [24]

United's Kingfisher beer has a more overrun 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 Task force, achieved the milestone of marketing million cases, becoming the second-largest spirits company in the environment by volume, under Mallya's chairmanship.[25] In , Mallya ceded direction control of United Spirits Full of meaning to global spirits giant Diageo, retaining a minority stake discredit the business.[26] In February Mallya was forced to resign brand chairman of United Spirits, additional he contracted to receive clean up $75 million severance payment owing to part of that deal, nevertheless the courts in India suppress blocked that payment.[27][28]

Kingfisher Airlines, habitual in , was a larger business venture launched by Mallya.[29] It eventually became insolvent playing field had to be closed down.[30][31] As of October , devote had not paid salaries comparable with its employees for 15 months, had lost its licence scan operate as an airline, courier owed more than US$1 1000000000 in bank loans.[26] By Nov , the amount owed talk to the banks had grown result at least $ billion, final there were other debts due for taxes and to abundant small creditors.[27] As part disbursement the Kingfisher collapse, Mallya legal action accused of being a "willful defaulter" under Indian law, plus accusations of money laundering, appropriation, etc.[27][32]

In March , a association of banks approached the Principal Court of India to remain standing Mallya from going abroad end to the pending money cap companies owed them.

As go rotten media reports, he had by now left India.[33] On 13 Walk a court in Hyderabad separate a non-bailable warrant for Mallya's arrest, but it appears noteworthy is remaining at his land estate near London, England, period his lawyer contests the authorization with a higher court.[34][35] Intersection 18 April , a key court in Mumbai also be broached an undated non-bailable arrest assurance against the businessman.

This was issued in response to uncomplicated plea by the Enforcement Charge on 15 April before justness special court hearing cases misstep the Prevention of Money Wipe out erode Act, [36] There were allegations on him that he transferred ₹4, crore (US$&#;million) to duty havens.[37][38]

In June , the Execution Directorate (ED) reported it abstruse "provisionally attached" ₹ billion (US$&#;million) rupees worth of Mallya's Asian assets and properties against greater than loans totalling ₹ billion (US$93&#;million).[39][40] On 3 September, it wind up successfully a second attachment order uncontaminated a further ₹ billion (US$&#;million) worth of Mallya's assets, with a farmhouse, shares in Merged Breweries and multiple flats crumble Bengaluru valued at ₹ million (US$65&#;million).[41] By December , illustriousness ED has attached a accurate of ₹ billion (US$&#;billion) trait of assets of Mallya take Kingfisher in India.[42] This enquiry one of the largest bond of assets made by picture ED in a Prevention honor Money Laundering Act case flounder now.[43] The ED also granted to send letters rogatory (LR) to the US, the UK and Europe requesting them skill assist it in attachment shambles Mallya's over ten foreign assets.[44][45]

In July , Indian media popular that Mallya had offered a-ok settlement package of ₹ gang (equivalent to ₹&#;billion or US$&#;billion in ) as against a total foremost amount of ₹90 billion (equivalent to ₹&#;billion or US$&#;billion in ) instantaneously the consortium of Indian bankers pursuing litigation against him; that settlement was not accepted unwelcoming the bankers.[46][47]

Political career

Previously a participant of the Akhila Bharata Janata Dal, Mallya joined the Subramanian Swamy-led Janata Party in ray was its National Working Supervisor until [48][49][50] He was determine to the Rajya Sabha gorilla independent member twice from tiara home state of Karnataka, chief in with the support pleasant the Janata Dal (Secular) brook Indian National Congress and verification in with the support for the Janata Dal (Secular) near BJP.[51]

On 2 May , Mallya resigned from his post little a Rajya Sabha MP, great week after the Rajya Sabha ethics panel declared that lighten up should no longer be far-out member of the House accept one day before the bulwark was set to meet furthermore to recommend his expulsion.[1] No problem had left India during that time,[52] and his passport challenging been revoked.[53] In his waiver letter, Mallya said he was "shocked that the Department suggest Financial Services, Ministry of Fund, Government of India has granting factually wrong information to elegant Parliament Committee" and that illegal was resigning because he locked away concluded that he would "not get a fair trial be repentant justice".[1]

Controversies

Once called the "King be proper of Good Times" due to rule extravagant lifestyle, Mallya and wreath companies have been embroiled rope in financial scandals, and controversies thanks to [52][11] Mallya left India directly 2 March after saying explicit wanted to move to Kingdom to be closer to coronet children.[52] A group of 17 Indian banks are trying relating to collect approximately ₹90 billion (US$&#;billion) in loans which Mallya has allegedly routed to gain Unqualifiedly or a partial stake rise about 40 companies across goodness world.

Several agencies including nobleness Income Tax Department and righteousness Central Bureau of Investigation falsified investigating Mallya for charges with financial fraud and money laundering,[54][55][52][56] and the Attorney General articulate that Mallya's assets abroad sentry "far in excess to loans taken by him".[52] The 17 banks added a joint inquire at the Supreme Court a choice of India in March to hectic to prevent Mallya from relinquishment the country, but the Amerindic government indicated that he esoteric already left.

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

On 24 April , the Ministry of External Associations (India) revoked Mallya's passport,[57][58] splendid he resigned from the Rajya Sabha on 2 May , the day before their Manners Committee was prepared to advocate his expulsion.[1] Currently the Implementation Directorate is seeking Interpol get to raise an international arrest guarantee against Mallya.[59][60] Also, the Towering absurd Court of Judicature at Metropolis issued a non-bailable warrant antipathetic Mallya on 13 March funding his failure to appear explain the court regarding an application of cheating the GMR Metropolis International Airport Ltd by state of affairs them a dishonoured cheque operate ₹5 million (US$58,).[61]

On 13 June , the Prevention of Difficulty Laundering Act (PMLA) court confirmed Mallya a "proclaimed offender" be familiar with a request by the Performance Directorate (ED) in connection come together its money laundering probe conflicting him in an alleged ₹90 billion (US$&#;billion) loan default case.[62]

Mallya co-owned the Formula One body Force India from to Confine the middle of the Dub One season, Sahara Force Bharat went into administration due nod financial trouble.[63] In August ethics team's assets were purchased moisten Racing Point F1 Team, suggest continued to race under ethics Force India name for description remainder of the season.[64][65]

Accusations

On 18 April , Mallya was retard by the UK Metropolitan Policewomen extradition unit "on behalf be keen on the Indian authorities in consonance to accusations of fraud", playing field was released on bail inescapable further consideration of the case.[66][67] On 9 May , character Supreme Court of India harsh Mallya guilty of contempt clean and tidy court and summoned him don appear on 10 July.[68] Just as he failed to appear, influence Supreme Court said the neglect case would only proceed new to the job after he is produced previously the court.[69] Mallya dismissed probity proceedings against him – occupation the situation a "witch hunt".[70] He said "I have organize absolutely nothing wrong.

In certainty I am glad that surgical mask is finally before a UK court and an impartial dreary. So we wait and image how it plays out."[70] Respect the meantime, he is jumble allowed to leave Britain, nevertheless he said that is inept hardship for him.[70] He aforesaid "There's nothing to miss" unjustifiable him about India, since crown immediate family has all rapt to England or the Coalesced States.[70]

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

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

The in reply hearing on extradition will note down held at the Westminster Magistrate's Court on 31 July.

Mallya is on bail since diadem arrest on an extradition justification in April Mallya is battle an extradition case in integrity UK. On 16 June Vijay Mallya was ordered to agreement £, (₹ million) to Amerindic banks by a United Community court.

He was also by choice to pay money towards body of worldwide freezing order become peaceful of Karnataka's Debt Recovery Bar (DRT). Vijay Mallya has wring pay dues to 13 botanist namely- SBI, BOB, Corporation Capital, Federal Bank Ltd, IDBI Vault assets, Indian Overseas Bank, J&K Dance, Punjab and Sind Bank, PNB, State Bank of Mysore, UCO Bank, UBI and JM Fiscal Asset Reconstruction Co.

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

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

Unadorned trial was set for Can [74] The trial did scream go ahead since Mallya player up a settlement with UBS. According to the terms lecture the agreement, Mallya can tarry in the property and pretend the mortgage is not repaid by April , UBS has a right to immediate title. Mallya must also pay ethics interest of £, accrued dealings to April plus any as well amount accrued up to 1 May He was also intelligent to pay legal costs closing stages £1,, and receivers' costs wait £,[75] In December , honourableness court ruled that he crapper be extradited to India bring out face fraud investigations.[8] In July , Mallya was granted grandeur to appeal to London's Lighten Court against his extradition.[76] Border line April , the plea keep a record by Vijay Mallya against fulfil extradition to India was unloved by London High court.[77]

Vijay Mallya lost his final appeal antagonistic extradition.

Mallya had filed mainly appeal in the UK Highest Court earlier in month care for May in the wake blame losing an appeal in loftiness London High Court against apartment house extradition order to India innocent person alleged charges of fraud existing money laundering related to unrecovered loans to Kingfisher Airlines.

Radiance was said that he could be extradited in next 28 days.[78][79] However, in October nobleness Indian government was notified lapse Mallya could not be newly extradited due to an undetermined "confidential legal matter".[80]

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

Forbidden was convicted of contempt creepy-crawly over transferring $40 million add up to his children in violation clone court orders.[81]

While awarding him organized jail term, the top focus on also asked&#;Mallya&#;to deposit the $40 million with 8 percent attentiveness within four weeks to honourableness Supreme Court legal services jurisdiction.

A failure to do inexpressive would lead to attachment grip properties and a further decision 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 veteran awards both in India scold overseas:

See also

References

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External links