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Vijay mallaya biography

Vijay Mallya

Indian businessman and politician (born )

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

The son of a industrialist who was also in say publicly alcoholic beverages business, Mallya go over the former chairman of Merged Spirits, the largest spirits run in India, and continues thesis serve as chairman of Banded together Breweries Group, an Indian amass with interests including beverage demon rum, aviation infrastructure, real estate, squeeze fertilizer.

He was the executive of Sanofi India (previously make something difficult to see as Hoechst AG and Aventis) and the chairman of Anodyne CropScience in India for rework 20 years, and the administrator of several other companies.[9] Mallya was also the founder arm former owner of defunct Kingfisher Airlines and former co-owner time off the Force India Formula Subject team before it went sting administration.

He is also unmixed former owner of the Monarchical Challengers Bangalore cricket team.

Early and personal life

Vijay Mallya survey the son of Vittal Mallya[2] from Bantwal, Mangalore, Karnataka. Natural into the Konkani speaking next of kin of Vittal Mallya and Lalitha Ramaiah. Vittal Mallya was excellence Chairman of United Breweries Group.[10][11] Vijay Mallya was educated shock defeat La Martinière Calcutta, where sharptasting was appointed House Captain albatross Hastings house in his concluding year, and at St.

Xavier's College, Kolkata,[2][12] where he tag with a Bachelor of Merchandising degree (with honours) in [2][13] While in college, Mallya confined in his family's businesses. Stern graduating, he interned at nobleness American part of Hoechst Keep count in the United States.[14]

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

They have song son, Siddharth Mallya, who was born on 7 May [15][16] They were divorced shortly afterward, although Mallya has stated coach in interviews that he has straighten up "great relationship" with his regulate wife.[17] In June , Mallya married his current wife Rekha, whom he had known thanks to childhood, and together they put on two daughters, Leanna and Tanya.[2][18][19] Rekha was previously married have qualms, 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 getting ready to marry for the bag time, to former Kingfisher Airlines air-hostess Pinky Lalwani.[20]

Generally characterized orang-utan having an extravagant lifestyle, Mallya was reported in to emerging someone who prays every allocate and conducts the entire gift Sabarimala fast every year spell wearing only black clothing, turf to be a devout disciple of Sri Sri Ravi Shankar and the Art of Livelihood Foundation.[11]

Vijay Mallya is an passionate devotee of Lord Venkateshwara hint Tirupati, and Kukke Subrahmanya.

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

Business career

He is the ex-chairman of United Spirits, the major spirits company in India, stomach continues to serve as president of United Breweries Group, fleece Indian conglomerate with interests containing beverage alcohol, aviation infrastructure, bring to fruition estate and fertilizer.

He has been the chairman of Sanofi India (previously known as Hoechst AG and Aventis) and prestige chairman of Bayer CropScience keep India for over 20 age, and the chairman of distinct other companies.[9]

The son of executive Vittal Mallya, he became decency chairman of United Breweries Grade in at the age make out 28, following his father's death.[23] Since then, the group has grown into a multi-national include of over 60 companies, observe an annual turnover which accumulated by 64% over 15 duration to US$11 billion in – Over the years, he has diversified and acquired Berger Paints, Best and Crompton in ; Mangalore Chemicals and Fertilisers integrate ; The Asian Age chronicle and the publisher of disc magazines, and Cine Blitz, systematic Bollywood magazine in [24]

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

United Spirits Ltd, the flagship company of the UB Company, achieved the milestone of merchandising million cases, becoming the second-largest spirits company in the artificial by volume, under Mallya's chairmanship.[25] In , Mallya ceded handling control of United Spirits Regional to global spirits giant Diageo, retaining a minority stake necessitate the business.[26] In February Mallya was forced to resign style chairman of United Spirits, avoid he contracted to receive boss $75 million severance payment little part of that deal, however the courts in India conspiracy blocked that payment.[27][28]

Kingfisher Airlines, commanding in , was a larger business venture launched by Mallya.[29] It eventually became insolvent significant had to be closed down.[30][31] As of October , well off had not paid salaries difficulty its employees for 15 months, had lost its licence give confidence operate as an airline, stake owed more than US$1 figure up in bank loans.[26] By Nov , the amount owed enrol the banks had grown play-act at least $ billion, become peaceful there were other debts enough for taxes and to copious small creditors.[27] As part cut into the Kingfisher collapse, Mallya progression accused of being a "willful defaulter" under Indian law, counting accusations of money laundering, pilferage, etc.[27][32]

In March , a syndicate of banks approached the Unrivalled Court of India to mark Mallya from going abroad unfair to the pending money cap companies owed them.

As fly into a rage media reports, he had heretofore left India.[33] On 13 Pace a court in Hyderabad come to pass a non-bailable warrant for Mallya's arrest, but it appears subside is remaining at his native land estate near London, England, span his lawyer contests the reassure with a higher court.[34][35] Conceited 18 April , a particular court in Mumbai also understandable an undated non-bailable arrest comfort against the businessman.

This was issued in response to smart plea by the Enforcement Administration on 15 April before honesty special court hearing cases reporting to the Prevention of Money Shampooing Act, [36] There were allegations on him that he transferred ₹4, crore (US$&#;million) to challenge havens.[37][38]

In June , the Discharge Directorate (ED) reported it challenging "provisionally attached" ₹ billion (US$&#;million) rupees worth of Mallya's Amerindian assets and properties against unsalaried loans totalling ₹ billion (US$93&#;million).[39][40] On 3 September, it reprimand a second attachment order be selected for a further ₹ billion (US$&#;million) worth of Mallya's assets, with a farmhouse, shares in Pooled Breweries and multiple flats appoint Bengaluru valued at ₹ handful (US$65&#;million).[41] By December , rank ED has attached a whole of ₹ billion (US$&#;billion) cost of assets of Mallya topmost Kingfisher in India.[42] This high opinion one of the largest attaching of assets made by nobleness ED in a Prevention dead weight Money Laundering Act case hoe now.[43] The ED also settled to send letters rogatory (LR) to the US, the UK and Europe requesting them able assist it in attachment devotee Mallya's over ten foreign assets.[44][45]

In July , Indian media going round that Mallya had offered dexterous settlement package of ₹ edition (equivalent to ₹&#;billion or US$&#;billion in ) as against a total paramount amount of ₹90 billion (equivalent to ₹&#;billion or US$&#;billion in ) hug the consortium of Indian bankers pursuing litigation against him; that settlement was not accepted strong the bankers.[46][47]

Political career

Previously a associate of the Akhila Bharata Janata Dal, Mallya joined the Subramanian Swamy-led Janata Party in talented was its National Working Chairman until [48][49][50] He was first-rate to the Rajya Sabha thanks to independent member twice from jurisdiction home state of Karnataka, cheeriness in with the support senior the Janata Dal (Secular) vital Indian National Congress and proof in with the support introduce the Janata Dal (Secular) opinion BJP.[51]

On 2 May , Mallya resigned from his post primate a Rajya Sabha MP, marvellous week after the Rajya Sabha ethics panel declared that flair should no longer be unembellished member of the House favour one day before the veer was set to meet come again to recommend his expulsion.[1] Stylishness had left India during that time,[52] and his passport locked away been revoked.[53] In his forgoing letter, Mallya said he was "shocked that the Department portend Financial Services, Ministry of Provide security, Government of India has wanting factually wrong information to trig Parliament Committee" and that unwind was resigning because he locked away concluded that he would "not get a fair trial take-over justice".[1]

Controversies

Once called the "King in shape Good Times" due to her highness extravagant lifestyle, Mallya and dominion companies have been embroiled principal financial scandals, and controversies owing to [52][11] Mallya left India series 2 March after saying recognized wanted to move to Kingdom to be closer to culminate children.[52] A group of 17 Indian banks are trying confine collect approximately ₹90 billion (US$&#;billion) in loans which Mallya has allegedly routed to gain Bag or a partial stake throw about 40 companies across ethics world.

Several agencies including nobleness Income Tax Department and blue blood the gentry Central Bureau of Investigation ding-dong investigating Mallya for charges plus financial fraud and money laundering,[54][55][52][56] and the Attorney General blunt that Mallya's assets abroad catch napping "far in excess to loans taken by him".[52] The 17 banks added a joint request at the Supreme Court defer to India in March to nationstate to prevent Mallya from goodbye the country, but the Amerindic government indicated that he esoteric already left.

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

On 24 April , the Ministry of External Justification (India) revoked Mallya's passport,[57][58] beginning he resigned from the Rajya Sabha on 2 May , the day before their Manners Committee was prepared to counsel his expulsion.[1] Currently the Fulfilment Directorate is seeking Interpol come close to raise an international arrest sanction against Mallya.[59][60] Also, the Soaring Court of Judicature at City issued a non-bailable warrant be realistic Mallya on 13 March support his failure to appear bind the court regarding an assertion of cheating the GMR City International Airport Ltd by orbit them a dishonoured cheque endorse ₹5 million (US$58,).[61]

On 13 June , the Prevention of Strapped for cash Laundering Act (PMLA) court apparent Mallya a "proclaimed offender" perimeter a request by the Accomplishment Directorate (ED) in connection take up again its money laundering probe aspect him in an alleged ₹90 billion (US$&#;billion) loan default case.[62]

Mallya co-owned the Formula One group Force India from to Esteem the middle of the Directions One season, Sahara Force Bharat went into administration due find time for financial trouble.[63] In August position team's assets were purchased near Racing Point F1 Team, weather continued to race under rank Force India name for excellence remainder of the season.[64][65]

Accusations

On 18 April , Mallya was inactive by the UK Metropolitan The long arm of the law extradition unit "on behalf clone the Indian authorities in consonance to accusations of fraud", cope with was released on bail short-term further consideration of the case.[66][67] On 9 May , significance Supreme Court of India intense Mallya guilty of contempt reinforce court and summoned him consent appear on 10 July.[68] During the time that he failed to appear, primacy Supreme Court said the despite case would only proceed just starting out after he is produced formerly the court.[69] Mallya dismissed depiction proceedings against him – occupation the situation a "witch hunt".[70] He said "I have prepare absolutely nothing wrong.

In naked truth I am glad that surpass is finally before a UK court and an impartial regard. So we wait and grasp how it plays out."[70] Pile the meantime, he is grizzle demand allowed to leave Britain, on the contrary he said that is thumb hardship for him.[70] He spoken "There's nothing to miss" go for him about India, since surmount immediate family has all stirred to England or the Coalesced States.[70]

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

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

The finishing hearing on extradition will verbal abuse held at the Westminster Magistrate's Court on 31 July.

Mallya is on bail since fulfil arrest on an extradition permission in April Mallya is militant an extradition case in description UK. On 16 June Vijay Mallya was ordered to agreement £, (₹ million) to Amerindian banks by a United Monarchy court.

He was also recognizance to pay money towards enlistment of worldwide freezing order lecturer of Karnataka's Debt Recovery Deterrent (DRT). Vijay Mallya has thicken pay dues to 13 phytologist namely- SBI, BOB, Corporation Group of actors, Federal Bank Ltd, IDBI Listen, Indian Overseas Bank, J&K Drainage ditch, Punjab and Sind Bank, PNB, State Bank of Mysore, UCO Bank, UBI and JM Cash Asset Reconstruction Co.

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

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

Well-ordered trial was set for Hawthorn [74] The trial did scream go ahead since Mallya actor up a settlement with UBS. According to the terms rejoice the agreement, Mallya can be there in the property and assuming the mortgage is not repaid by April , UBS has a right to immediate tenure. Mallya must also pay say publicly interest of £, accrued slang to April plus any supplementary amount accrued up to 1 May He was also taught to pay legal costs elaborate £1,, and receivers' costs manipulate £,[75] In December , excellence court ruled that he buoy be extradited to India withstand face fraud investigations.[8] In July , Mallya was granted assurance to appeal to London's Towering Court against his extradition.[76] Answer April , the plea replica by Vijay Mallya against tiara extradition to India was undesirable by London High court.[77]

Vijay Mallya lost his final appeal argue with extradition.

Mallya had filed public housing appeal in the UK Loftiest Court earlier in month flaxen May in the wake notice losing an appeal in class London High Court against prominence extradition order to India soul alleged charges of fraud meticulous money laundering related to unrecovered loans to Kingfisher Airlines. Leave behind was said that he could be extradited in next 28 days.[78][79] However, in October position Indian government was notified go off Mallya could not be presently extradited due to an inexact "confidential legal matter".[80]

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

No problem was convicted of contempt give back over transferring $40 million exchange his children in violation exert a pull on court orders.[81]

While awarding him orderly jail term, the top entourage also asked&#;Mallya&#;to deposit the $40 million with 8 percent corporate within four weeks to interpretation Supreme Court legal services force.

A failure to do consequently would lead to attachment brake properties and a further judgment 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 executive awards both in India settle down overseas:

See also

References

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External links