Vijay Mallya

Vijay Mallya
Vijay Mallya is an Indian businessman and a politician and is the ex-chairman of the largest spirits company in India United Spirits Ltd. He currently serves as the Chairman of UB Group, an Indian conglomerate with interests in beverage alcohol, aviation, infrastructure, real estate and fertiliser among others. He also co-owns Formula One team Sahara Force India and his company is the owner of Indian Premier League team Royal Challengers Bangalore, the I-League team Mohun Bagan AC and East Bengal FC. He is also the Indian representative in the FIA of World Motor Sports Council. Mallya was also the owner of Kingfisher Airlines, that was established in 2005 but became insolvent and got shut down in 2012. Mallya also serves in the Rajya Sabha from his home state of Karnataka. He is known for his extravagant lifestyle and had the title of King of Good Times. He has been in controversies since 2012 and Mallya and his companies have been embroiled in financial scandals. He left India on 2nd March 2016. A group of 17 Indian banks are trying to collect Rs 9000 Crore that has been given to Mallya and his company as a bank loan. Mallya is said to be in London and his passport has been revoked by the Indian Government.Born on 18 December 1955, in a Goud Saraswat Brahmin family in Karnataka, Vijay Mallya was born to Vittal Mallya and Lalitha Mallya. His father Vittal Mallya was the Chairman of United Breweis Group. Vijay Mallya did his schooling from La Martiniere Calcutta where he was appointed as the Captain of Hastings House in his final year. He did his graduation with a Bachelor of Commerce from St. Xaviers College, Calcutta in 1976. After completing his education, Mallya interned at the American part of Hoechst AG in the United States. He entered into his fathers business in 1983 after the death of his father. Mallya was 28 years old when he became the Chairman of United Breweries Group and since then, his group grew into a multi-national conglomerate of over 60 companies. The annual turnover of the company also rose and it increased by 64% over 15 years to US$11 Billion in 1998-99. He created a group called UB Group and consolidated various companies into the umbrella company and he spun off the noncore and loss making businesses and focused on the business of alcoholic beverages. Over the years, he has acquired Berger paints, Best and Crompton, Mangalore Chemicals and Fertilizers, The Asian Age newspapers and the publisher of film magazine and Cine Blitz, a Bollywood magazine. His companys beer Kingfisher has more than 50% market share of the beer market in India and the beer is also available in 52 countries and leads among the Indian beers in the international market. Under Vijay Mallyas chairmanship, the flagship company United Spirits Ltd achieved the historic milestone of selling 100 million cases and became the second largest spirits company in the world. In 2012, Mallya ceded management control of United Spirits to Diageo although he retained a minority stake in business. He was forced to resign as the Chairman of United Spirits in February 2015 and he was contracted to receive a $75 million severance payment as a part of the deal but the payment was blocked by the Indian courts. His other major business venture was the Kingfisher Airlines that was launched by Mallya in 2005 but as of October 2013, the airline was unable to pay salaries of its employees for 5 months and owed more than US$1 billion in bank loans. The company became insolvent and got dissolved and the amount owed by banks grew to atleast US$1.35 billion by November 2015. Mallya was also accused of money laundering, misappropriation etc. Mallya left India on 2nd March 2016 after saying that he wanted to move to Britain to be closer to his children. A group of 17 banks are trying to collect appropriately 9000 crore rupees in loans which Mallya has allegedly routed to gain 100% or partial of the 40 companies worldwide. Investigative agencies such as Income Tax Department and Central Bureau of Investigation have charged him for financial fraud and money laundering. On 24th April 2016, the Ministry of External Affairs of India revoked his passport and Mallya resigned from Rajya Sabha on 2nd May 2016.Mallya first married in 1986 to Sameera Tyabjee, an air hostess of Air India and they have a son, Siddharth Mallya. They divorced shortly afterwards. He later got married in 1993 to his current wife Rekha and they have two daughters Leanna and Tanya. Rekha was married twice before and also has a daughter and a son Leila and Kabir from the previous marriage. Mallya adopted Rekhas daughter Leila. Mallya also has been a member of Akhil Bharata Janata Dal and later joined Subramanian Swamy led Janata Party in 2003 and served as its National President till 2010. He was elected to Rajya Sabha in 2002 as an independent member from Karnataka with support from Congress and Janata Dal. He was re-elected in 2010 with the backing of BJP. Mallya also was noticed for bidding the auction and he won the bid of 1,75,000 euro for the sword of Tipu Sultan that he bought from London. In 2009, he successfully bid the belongings of Mahatma Gandhi for US$1.8 million.
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