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Vijay Mallya
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Vijay Mallya (born 18 December 1955)[1][2][3] is an
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World Motor Sport Council representing India in the FIA.[5] He is also known for having launched
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Kingfisher Airlines, a new airline established as a major business venture in 2005 that later
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Once called the "King of Good Times" and "the playboy of the East" due to his extravagant
lifestyle, Mallya and his companies have been embroiled in financial controversies and
difficulties in recent years, and especially since 2012.[6][7] Mallya left India on 2 March 2016 after
saying he wanted to move to Britain to be closer to his children.[6] A group of Indian banks is
trying to collect approximately 7000 crore (US$1.0billion) in loans they said they have made to
Deutsch
Mallya and his businesses,[6][8] and the Attorney General said that Mallya's assets abroad are
Espaol
"far in excess to loans taken by him".[6] The 17 banks petitioned the Supreme Court of India in
Franais
Bahasa Indonesia
Italiano
March 2016 to try to prevent Mallya from leaving the country, but the Indian government
indicated that he had already left. The Enforcement directorate of India also filed a money
laundering case against him in March 2016 for allegedly sending abroad some 900 crore
(US$130million) that had been loaned to his airline.[6] The High Court of Judicature at
Lietuvi
Hyderabad issued a non-bailable warrant against Mallya on 13 March 2016 for his failure to
appear in the court regarding an allegation of cheating the GMR Hyderabad International Airport
Ltd by issuing them a dishonoured cheque for 50 lakh (US$74,000).[9]
Bahasa Melayu
Contents
Nederlands
1 Personal life
Norsk bokml
Polski
2 Business
3 Political career
Portugus
4 Auction purchases
5 Awards
Suomi
6 References
7 External links
Edit links
Personal life
[ edit ]
Vijay Mallya was born on 18 December 1955, the son of Vittal Mallya and Lalitha Ramaiah. Vittal
Mallya was the chairman of United Breweries Group, from Bantwal, Mangaluru, and was from a
Konkani-speaking Gaud Saraswat Brahmin family.[1][3][7] He was educated at La Martinire
Calcutta, where he was appointed House Captain of Hastings house in his final year, and at St
Xavier's College, Calcutta,[1][10] where he graduated with a Bachelor of Commerce degree (with
honours) in 1970.[1] While in college, Mallya interned in his family's businesses. After
graduating, he interned at the American part of Hoechst AG in the United States.[citation needed]
In 1986, he met and married Sameera Tyabjee, an air hostess of Air India. They have one son,
Siddharth Mallya, who was born on 7 May 1987.[2][11] They were divorced shortly afterwards,
although Mallya has stated in interviews that he has a "great relationship" with his first wife.[12]
In June 1993, Mallya married his current wife Rekha, whom he had known since childhood, and
together they have two daughters, Leanna and Tanya.[13][14][1] Rekha was previously married
twice, and also has a daughter and son, Leila and Kabir, from a previous marriage.[14][3] Mallya
adopted Rekha's daughter Leila.[2] On the subject of raising his children, Mallya said "My
children are very dear to me. I am responsible as a father to play an active role in determining
their future."[12] However, he also said "I wasn't a hands-on father. I hired good nannies for my
children and left it to their expertise."[12] In contrast with Vijay Mallya's flamboyant lifestyle, his
wife Rekha has maintained a relatively private personal life and has said she just prefers to
spend her time with her daughters.[12][2]
Although generally characterized as having an extravagant lifestyle, Mallya was reported in 2005
to be someone who prays every day and conducts the entire 42-day Sabarimala fast every year
while wearing only black clothing, and to be a devout follower of Sri Sri Ravi Shankar and the
Art of Living movement.[7]
Business
[ edit ]
Mallya became the Chairman of United Breweries Group in 1983 at the age of 28, following his
father's death.[4] Since then, the group has grown into a multi-national conglomerate of over 60
companies, with an annual turnover which increased by 64% over 15 years to US$ 11 billion in
19981999. He consolidated the various companies under an umbrella group called the "UB
Group", spun off non-core and loss-making businesses and focused on the core business of
alcoholic beverages.[citation needed] Over the years, he has diversified and acquired Berger
Paints, Best and Crompton in 1988; Mangalore Chemicals and Fertilisers in 1990; The Asian
Age newspaper and the publisher of film magazine, and Cine Blitz, a Bollywood magazine in
2001.[15]
United's Kingfisher beer has more than a 50% market share in India's beer market.[4] The beer
is available in 52 countries outside India and leads among Indian beers in the international
market.[4]
United Spirits Ltd, the flagship company of the UB Group, achieved the historic milestone of
selling 10 crore (100 million) cases, becoming the second-largest spirits company in the world
by volume under Vijay Mallya's chairmanship.[4] In 2012, Mallya ceded management control of
United Spirits Limited to global spirits giant Diageo, although he retained a minority stake in the
business.[16] In February 2015 Mallya was forced to resign as Chairman of United Spirits, and
he contracted to receive a $75 million severance payment as part of that deal, but the courts in
India have blocked that payment.[17][18]
Kingfisher Airlines, established in 2005, was a major business venture launched by Mallya.[19] It
eventually became insolvent and had to be closed down.[20][21] As of October 2013, it had not
paid salaries to its employees for 15 months, had lost its licence to operate as an airline, and
owed more than US$ 1 billion in bank loans.[16] By November of 2015 the amount owed to the
banks had grown to at least $1.35 billion, and there were other debts owed for taxes and to
numerous small creditors.[17] As part of the Kingfisher collapse, Mallya is accused of being a
"willful defaulter" under Indian law, including accusations of money laundering, misappropriation,
etc.[22][17]
In March 2016, a consortium of banks approached the Supreme Court of India to stop Mallya
from going abroad due to the pending money his companies owed them. As per media reports,
he had already left India.[23] On March 13, 2016 a court in Hyderabad issued a non-bailable
warrant for Mallya's arrest, but it appears he is remaining at his country estate near London,
England, while his lawyer contests the warrant with a higher court.[24][25]
Political career
[ edit ]
Auction purchases
[ edit ]
Mallya in 2010
Awards
[ edit ]
Mallya has received several professional awards both in India and overseas:
Honorary degree of Doctorate of Philosophy in Business Administration, by the Southern
California University for Professional Studies (1997).[1][4][32]
"Officier de la Lgion d'Honneur", a high award of recognition in France.[4][32]
"Global leader for tomorrow", World Economic Forum.[4][32]
"Entrepreneur of the Year" award at The Asian Awards (2010).[33]
References
[ edit ]
(section 4.1)
5. ^ World Motor Sport Council
6. ^ a b c d e "Vijay Malya left the country"
7. ^
abc
March 2016.
10. ^ Mathew, Fr. P.C., S.J., "Aims and Objectives
2014).
11. ^ Sid Mallya. "Sidhartha Mallya"
12. ^
abcd
Retrieved 2014-07-30.
16. ^ a b "India's Richest #84 Vijay Mallya
17. ^
abc
Narayan, Khushboo; Johnson, T A; Vikraman, Shaji (13 March 2016). "Vijay Mallya: Once
18. ^ Rana, Preetika (8 March 2016). "Vijay Mallyas Severance Payment From Diageo Halted by
Indian Tribunal"
2012.
20. ^ "Non-bailable arrest warrant issued against Vijay Mallya
21. ^ "Cheques bounce case: Warrant against Kingfisher, Vijay Mallya on GMR's complaint
", CNN-
2016.
23. ^ News. (2016).
13 banks move SC to stop Vijay Mallya but he has already left India.
Economic Times.
24. ^ "Hyderabad court issues non-bailable warrant against Vijay Mallya"
27. ^ India, Press Trust of (8 June 2010). "Vijay Mallya removed as Working President of Janata
Party"
15 March 2016.
29. ^ "BJP backs Vijay Mallya for Rajya Sabha"
2016.
30. ^ "BJP, JD(S) join hands to make Mallya win Rajya Sabha seat"
External links
[ edit ]
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