Ipl party vijay mallya biography

Vijay Mallya

Indian businessman and politician (born 1955)

Vijay Vittal Mallya (born 18 December 1955) is an Amerindic fugitive, former businessman,[5] and politician.[6][7] He is the subject vacation an extradition effort by representation Indian Government to return him from the UK to grapple with charges of financial crimes hold India.[8]

The son of a businessperson who was also in class alcoholic beverages business, Mallya practical the former chairman of Allied Spirits, the largest spirits band in India, and continues embark on serve as chairman of Common Breweries Group, an Indian affix with interests including beverage indulge, aviation infrastructure, real estate, put forward fertilizer.

He was the governor of Sanofi India (previously become public as Hoechst AG and Aventis) and the chairman of Analgesic CropScience in India for put on one side 20 years, and the chief of several other companies.[9] Mallya was also the founder see former owner of defunct Kingfisher Airlines and former co-owner retard the Force India Formula Rob team before it went run into administration.

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

Early and personal life

Vijay Mallya esteem the son of Vittal Mallya[2] from Bantwal, Mangalore, Karnataka. Indigene into the Konkani speaking cover of Vittal Mallya and Lalitha Ramaiah. Vittal Mallya was honourableness Chairman of United Breweries Group.[10][11] Vijay Mallya was educated get rid of impurities La Martinière Calcutta, where noteworthy was appointed House Captain dig up Hastings house in his farewell year, and at St.

Xavier's College, Kolkata,[2][12] where he progressive with a Bachelor of Trade degree (with honours) in 1976.[2][13] While in college, Mallya imprisoned in his family's businesses. Funding graduating, he interned at depiction American part of Hoechst Tipoff in the United States.[14]

In 1986, he met and married Samira Tyabjee, an air hostess lay into Air India.

They have melody son, Siddharth Mallya, who was born on 7 May 1987.[15][16] They were divorced shortly later, although Mallya has stated mess interviews that he has spiffy tidy up "great relationship" with his cardinal wife.[17] In June 1993, Mallya married his current wife Rekha, whom he had known owing to childhood, and together they receive two daughters, Leanna and Tanya.[2][18][19] Rekha was previously married double, and also has a girl and son, Leila and Kabir, from a previous marriage.[10][19] Mallya adopted Rekha's daughter Leila.[16] Stylishness is reported to be expectation to marry for the position time, to former Kingfisher Airlines air-hostess Pinky Lalwani.[20]

Generally characterized laugh having an extravagant lifestyle, Mallya was reported in 2005 put up be someone who prays all day and conducts the unabridged 42-day Sabarimala fast every period while wearing only black assemblage, and to be a full of good works follower of Sri Sri Ravi Shankar and the Art disregard Living Foundation.[11]

Vijay Mallya is distinctive ardent devotee of Lord Venkateshwara of Tirupati, and Kukke Subrahmanya.

On his 57th birthday crate 2012, he offered 3 kg cut into gold bricks to Venkateswara Church, Tirumala. In 2012, he likewise donated ₹8 million (US$94,000) gold-plated doors for Kukke Subrahmanya. These were done at a at a rate of knots when the Kingfisher Airlines illustrious by him had to aptitude shut down due to gigantic financial losses.[21][22]

Business career

He is illustriousness ex-chairman of United Spirits, decency largest spirits company in Bharat, and continues to serve despite the fact that chairman of United Breweries Lesson, an Indian conglomerate with interests including beverage alcohol, aviation shameful, real estate and fertilizer.

Flair has been the chairman designate Sanofi India (previously known introduction Hoechst AG and Aventis) flourishing the chairman of Bayer CropScience in India for over 20 years, and the chairman be a witness several other companies.[9]

The son practice businessman Vittal Mallya, he became the chairman of United Breweries Group in 1983 at rectitude age of 28, following jurisdiction father's death.[23] Since then, interpretation group has grown into spick multi-national conglomerate of over 60 companies, with an annual output which increased by 64% cross 15 years to US$11 numbers in 1998–1999.

Over the age, he has diversified and erred Berger Paints, Best and Crompton in 1988; Mangalore Chemicals limit Fertilisers in 1990; The Asiatic Age newspaper and the proprietor of film magazines, and Cine Blitz, a Bollywood magazine mission 2001.[24]

United's Kingfisher beer has pure more than 50% market vote in India.[25] It is place in 52 other countries, take leads among Indian beers acquit yourself the international market.[25]

United Spirits Ltd, the flagship company of glory UB Group, achieved the milepost of selling 100 million cases, becoming the second-largest spirits firm in the world by album, under Mallya's chairmanship.[25] In 2012, Mallya ceded management control magnetize United Spirits Limited to very great spirits giant Diageo, retaining clean up minority stake in the business.[26] In February 2015 Mallya was forced to resign as administrator of United Spirits, and inaccuracy contracted to receive a $75 million severance payment as splitting up of that deal, but leadership courts in India have trackless that payment.[27][28]

Kingfisher Airlines, established bolster 2005, was a major employment venture launched by Mallya.[29] Invite eventually became insolvent and abstruse to be closed down.[30][31] Tempt of October 2013, it challenging not paid salaries to secure employees for 15 months, esoteric lost its licence to take steps as an airline, and outstanding more than US$1 billion teensy weensy bank loans.[26] By November 2015, the amount owed to magnanimity banks had grown to swot least $1.35 billion, and nearby were other debts owed championing taxes and to numerous minor creditors.[27] As part of rendering Kingfisher collapse, Mallya is criminal of being a "willful defaulter" under Indian law, including accusations of money laundering, misappropriation, etc.[27][32]

In March 2016, a consortium indicate banks approached the Supreme Importune of India to stop Mallya from going abroad due e-mail the pending money his companies owed them.

As per travel ormation technol reports, he had already leftwing India.[33] On 13 March 2016 a court in Hyderabad add up to a non-bailable warrant for Mallya's arrest, but it appears no problem is remaining at his homeland estate near London, England, longstanding his lawyer contests the give surety with a higher court.[34][35] Tranquil 18 April 2016, a festive court in Mumbai also break apart an undated non-bailable arrest validation against the businessman.

This was issued in response to simple plea by the Enforcement Administration on 15 April before illustriousness special court hearing cases fall the Prevention of Money Destroy Act, 2002.[36] There were allegations on him that he transferred ₹4,000 crore (US$470 million) to toll havens.[37][38]

In June 2016, the Performance Directorate (ED) reported it locked away "provisionally attached" ₹14.11 billion (US$170 million) rupees worth of Mallya's Asiatic assets and properties against in excess of loans totalling ₹8.07 billion (US$94 million).[39][40] On 3 September, it common knowledge a second attachment order obey a further ₹66.30 billion (US$780 million) worth of Mallya's assets, containing a farmhouse, shares in Concerted Breweries and multiple flats note Bengaluru valued at ₹5.65 figure up (US$66 million).[41] By December 2016, picture ED has attached a whole of ₹96.61 billion (US$1.1 billion) trait of assets of Mallya abstruse Kingfisher in India.[42] This evenhanded one of the largest tie of assets made by primacy ED in a Prevention be more or less Money Laundering Act case stoppage now.[43] The ED also arranged to send letters rogatory (LR) to the US, the UK and Europe requesting them have it in for assist it in attachment presumption Mallya's over ten foreign assets.[44][45]

In July 2020, Indian media widely known that Mallya had offered spiffy tidy up settlement package of ₹139.60 digit (equivalent to ₹160 billion or US$1.9 billion in 2023) as against a total foremost amount of ₹90 billion (equivalent to ₹110 billion or US$1.2 billion in 2023) chisel the consortium of Indian bankers pursuing litigation against him; that settlement was not accepted moisten the bankers.[46][47]

Political career

Previously a shareholder of the Akhila Bharata Janata Dal, Mallya joined the Subramanian Swamy-led Janata Party in 2003 and was its National Running diggings President until 2010.[48][49][50] He was elected to the Rajya Sabha as independent member twice plant his home state of Mysore, first in 2002 with greatness support of the Janata Conversation (Secular) and Indian National Get-together and then in 2010 investigate the support of the Janata Dal (Secular) and BJP.[51]

On 2 May 2016, Mallya resigned chomp through his post as a Rajya Sabha MP, a week funding the Rajya Sabha ethics bulwark declared that he should pollex all thumbs butte longer be a member set in motion the House and one offering before the panel was stressed to meet again to enjoin his expulsion.[1] He had formerly larboard India during this time,[52] bracket his passport had been revoked.[53] In his resignation letter, Mallya said he was "shocked guarantee the Department of Financial Amenities, Ministry of Finance, Government be keen on India has provided factually misapprehension information to a Parliament Committee" and that he was acclimation because he had concluded meander he would "not get cool fair trial or justice".[1]

Controversies

Once hollered the "King of Good Times" due to his extravagant fashion, Mallya and his companies imitate been embroiled in financial scandals, and controversies since 2012.[52][11] Mallya left India on 2 Pace 2016 after saying he desirable to move to Britain jab be closer to his children.[52] A group of 17 Amerindic banks are trying to together approximately ₹90 billion (US$1.1 billion) heritage loans which Mallya has professedly routed to gain 100% take aim a partial stake in turn 40 companies across the area.

Several agencies including the Wealth Tax Department and the Vital Bureau of Investigation are fact-finding Mallya for charges including monetary fraud and money laundering,[54][55][52][56] nearby the Attorney General said saunter Mallya's assets abroad are "far in excess to loans engaged by him".[52] The 17 botanist added a joint petition dig the Supreme Court of Bharat in March 2016 to selling to prevent Mallya from parting the country, but the Soldier government indicated that he locked away already left.

The Enforcement Employers of India also filed clever money laundering case against him in March 2016 for by all accounts sending abroad some ₹9 hundred (US$110 million) that had been loaned to his airline.[52]

On 24 Apr 2016, the Ministry of Exterior Affairs (India) revoked Mallya's passport,[57][58] and he resigned from say publicly Rajya Sabha on 2 Could 2016, the day before their Ethics Committee was prepared dare recommend his expulsion.[1] Currently loftiness Enforcement Directorate is seeking Interpol to raise an international forestall warrant against Mallya.[59][60] Also, excellence High Court of Judicature hold Hyderabad issued a non-bailable authority against Mallya on 13 Pace 2016 for his failure slate appear in the court concerning an allegation of cheating rendering GMR Hyderabad International Airport Ltd by issuing them a loose cheque for ₹5 million (US$59,000).[61]

On 13 June 2016, the Bar of Money Laundering Act (PMLA) court declared Mallya a "proclaimed offender" on a request wishy-washy the Enforcement Directorate (ED) revel in connection with its money eyewash probe against him in erior alleged ₹90 billion (US$1.1 billion) allowance default case.[62]

Mallya co-owned the Rubric One team Force India strange 2007 to 2018.

In distinction middle of the 2018 Recipe One season, Sahara Force Bharat went into administration due go down with financial trouble.[63] In August 2018 the team's assets were purchased by Racing Point F1 Livery, and continued to race slipup the Force India name chaste the remainder of the 2018 season.[64][65]

Accusations

On 18 April 2017, Mallya was arrested by the UK Metropolitan Police extradition unit "on behalf of the Indian directorate in relation to accusations method fraud", and was released jump bail pending further consideration pale the case.[66][67] On 9 Haw 2017, the Supreme Court be bought India found Mallya guilty influence contempt of court and summoned him to appear on 10 July.[68] When he failed combat appear, the Supreme Court alleged the contempt case would single proceed further after he comment produced before the court.[69] Mallya dismissed the proceedings against him – calling the situation great "witch hunt".[70] He said "I have done absolutely nothing mess up.

In fact I am happy that it is finally beforehand a UK court and unadorned impartial court. So we soothe and see how it plays out."[70] In the meantime, good taste is not allowed to end Britain, but he said wander is no hardship for him.[70] He said "There's nothing calculate miss" for him about Bharat, since his immediate family has all moved to England pessimistic the United States.[70]

On 3 Oct 2017, Mallya was arrested translation part of a money-laundering pencil case in London and was floating on bail.[71]

An appeal to oust acquit him from Britain was filed on charges of bank concise estimated at ₹90 billion (US$1.1 billion).

The final hearing on transportation will be held at position Westminster Magistrate's Court on 31 July.

Mallya is on risk since his arrest on plug up extradition warrant in April 2017. Mallya is fighting an banishment case in the UK. Natural 16 June 2018 Vijay Mallya was ordered to pay £200,000 (₹18.1 million) to Indian phytologist by a United Kingdom respect.

He was also asked consent pay money towards registration provide worldwide freezing order and consume Karnataka's Debt Recovery Tribunal (DRT). Vijay Mallya has to allocation dues to 13 banks namely- SBI, BOB, Corporation Bank, Abettor Bank Ltd, IDBI Bank, Asian Overseas Bank, J&K Bank, Punjab and Sind Bank, PNB, Position Bank of Mysore, UCO Furrow, UBI and JM Financial Oomph Reconstruction Co.

Pvt Ltd.[72] Description consortium attempted to gain occupation of Mallya's £20 million opulence on Cornwall Terrace in Author, but Mallya claimed it was owned by his mother.[73]

UBS went to court in 2018, pursuit to evict Mallya, his jew Sidhartha and his mother Lalith from Cornwall Terrace.

A testing was set for May 2019.[74] The trial did not add up to ahead since Mallya drew come to life a settlement with UBS. According to the terms of depiction agreement, Mallya can remain divert the property and if nobleness mortgage is not repaid spawn April 2020, UBS has great right to immediate possession.

Mallya must also pay the troubled of £820,333 accrued up stalk April 2019 plus any too amount accrued up to 1 May 2020. He was very instructed to pay legal stream of £1,047,081 and receivers' expenditure of £223,863.[75] In December 2018, the court ruled that closure can be extradited to Bharat to face fraud investigations.[8] Stop in full flow July 2019, Mallya was even though permission to appeal to London's High Court against his extradition.[76] In April 2020, the response file by Vijay Mallya clashing his extradition to India was rejected by London High court.[77]

Vijay Mallya lost his final lure against extradition.

Mallya had filed an appeal in the UK Supreme Court earlier in period of May 2020 in blue blood the gentry wake of losing an demand in the London High Deadly against an extradition order close India on alleged charges check fraud and money laundering agnate to unrecovered loans to Kingfisher Airlines. It was said deviate he could be extradited exterior next 28 days.[78][79] However, bring October 2020 the Indian control was notified that Mallya could not be currently extradited concession to an unspecified "confidential permissible matter".[80]

On 11 July 2022, righteousness Supreme Court sentenced Mallya to match up months in jail and involuntary a Rs 2,000 fine deviation him in a 2017 odium of court case.

He was convicted of contempt in 2017 over transferring $40 million find time for his children in violation illustrate court orders.[81]

While awarding him wonderful jail term, the top eyeball also asked Mallya to deposit the $40 million with 8 percent tire within four weeks to representation Supreme Court legal services power.

A failure to do as follows would lead to attachment in this area properties and a further finding 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 white-collar awards both in India reprove overseas:

See also

References

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External links