Business & Economy

Vijay Mallya – Success to Failure Story

Once upon a time, the tycoon person was in everyone’s mind and mouth. That era was Vijay
Mallya’s time. He never led a quiet life. This man, who is 62 old had faced many contradictions
in life from Britain to India in charge of fraud and money laundering. Vijay Mallya inherited the
business of his father in 1983. Since then he is working towards his wealth. He was the only
person who strived in life to leave for his betterment and became a successful entrepreneur of
frugal drinks. Vijay Mallya studied hard and took over the business. He was bought up with his
mother in Kolkata and by this time his father was looking for a beverage business in Bangalore.
He ran the business and built his career in UB group multinational conglomerate that held 50%
of market beer and played biggest in a local production of spirits through united spirits. He
targeted shaw Wallace and challenged the key brand royal challenge whiskey. Mallya linked
with Gulf-based many chabaria to take over the circumvent local drinks ownership laws.
India’s liquor laws were relaxed and Mallya made the market range high in rapid growth. When
Mallya inherited the group and thus his companies sold for just 2.5m cases a year in 1995. His
drinks empire became the world’s tenth-largest and by 2001 he sold 26m cases. As soon as
Chabaria died, shaw Wallace came into the hand of Mallya’s empire. He was kept touching the
golden years. But the great brand of Kingfisher beer rocked the market. Mallya himself started
promoting the business and thus he gained the name “King of the good times”. As years passed
on he became the brand ambassador of Royal Challengers Bangalore, the Indian Premier League
cricket franchise, and the principal backer of the force India formula 1 Grand Prix racing team.
He traveled all over the world by private jet and luxury yacht. He is constantly involved in the
company of Bollywood stars.
The story of Mallya ended up being a fugitive economic offender –
Kingfisher airlines grounded in 2012. This business accelerated and geared up in the market.
Mallya left the country in 2016 when the bank clutch the public sector banks moved the debt
recovery tribunal against him. then he has been declared as a fugitive economic offender under
the fugitive economic offender’s act.
Mallya’s response –
He was been asked to repay all the loans that have taken as debt from public sector banks. He
wrote an open letter defending himself, just before leaving the country in the year 2016.
The letter consists of these factors –
“all inquiries conducted have failed to find evidence of misappropriation of funds by kingfisher
airlines or myself”, then he said, “despite pledging blue-chip securities and successful
disinformation campaign has ensured my becoming the poster boy of all bank NPA’s”.
The Indian government making all the efforts to extradite Mallya from the UK. Currently, the
case is pending in the London High Court, where he had filed an appeal against the order.
Therefore this is the story of his business life.

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