New Delhi30 minutes ago
- Copy link
Vijay Mallya is an Indian businessman and former MP, who has been the chairman of the United Bruge Group. He has been the founder of Kingfisher Airlines and former owner of Royal Challengers Bangalore Cricket Team.
On 2 March 2016, he was going to London for a FIA meeting in Geneva. I told the then Finance Minister Arun Jaitley that I am going. But I got stuck in London due to the cancellation of the passport. I am not a fugitive, it was not an escape plan. It is wrong to call me a thief.
This is to say that businessman Vijay Mallya, who is surrounded in a bank loan fraud case of Rs 6,200 crore. However, along with interest and other fees, this amount is around 9000 crores. Apart from this, a case of loan default of Rs 900 crore has also been registered from IDBI Bank.
After distance from the media for nine years, Mallya recently broke his silence in the podcast of YouTuber Raj Shamani. In this four -hour conversation, he spoke openly on his life, business, collapse of Kingfisher Airlines, employees outstanding salary, and legal battles.
Question 1: How was Vijay Mallya’s childhood and early career?
answer: I was born in Kolkata, where my father Vitthal Mallya was the chairman of the UB Group. Childhood was spent in strict discipline. The father said, “If you do not work hard, there is no place in my business.” After BCom from St. Xavier’s College, I became a trainee in the UB group at a salary of Rs 400 a month. At the age of 18, I was made a CEO of a small company.
Question 2: How did Mallya make the UB Group and Kingfisher successful?
answer: In 1983, at the age of 27, I took over the UB group after my father’s death. Kingfisher beer was made a stylish brand of youth, which today holds 52% market shares.
McDowels number 1 whiskey was made the world’s number 1 whiskey brand. In 1988, Burger bought paints and spread it to 25 countries and sold them for profit.
Question 3: What was the reason for the introduction and collapse of Kingfisher Airlines?
answer: In 2005, I started Kingfisher Airlines on son Siddharth’s 18th birthday to give premium flying experiences. It became India’s largest airline by 2008. But 2008 financial crisis, rising oil prices, heavy tax and lack of foreign investment submerged it. Put 3,000 crore rupees from the UB group, yet the airline closed in 2012.
Kingfisher Airlines was designed to give a premium flying experience at a low price.
Question 4: What would you say on the outstanding salary of employees?
answer: I am very sad to not give salary to some employees. I have no excuse. A petition was filed to release Rs 260 crore in the Karnataka High Court, but the banks objected. The assets could not bring any more funds due to freeze. Mallya had failed to repay the money of banks, so there was a criticism in the media and public about inflation party.
Question 5: What will you say on loan and recovery of banks?
answer: Take a loan of 6,203 crore from 17 banks. Banks recovered Rs 14,131.6 crore from properties, which is two and a half times the debt. I made a four-time settlement offers in 2012-2015, including an offer of 5,000 crores, but the banks turned down.
Question 6: What would you like to say on CBI and ED allegations?
answer: The CBI accused the brand valuation and the “Missuse” of private jet. ED accused Rs 3,547 crore money laundering. But 50% of the airline’s expenses were in foreign currency, calling it money laundering. I also paid a loan of 900 crores to IDBI.
Question 7: Why did India leave and what would you say on the “fugitive” tag?
answer: On 2 March 2016, he was going to London for a FIA meeting in Geneva. I told Arun Jaitley that I am going and will talk about settlement. I got stuck in London as the passport was canceled. I am not a fugitive, it was not an escape plan. It is wrong to call me a thief.
Vijay Mallya is currently in London. The Government of India is making efforts to bring them back to the country.
Question 8: What is your opinion on the challenges of business in India?
answer: I consider India’s bureaucracy to be a major obstruction of business. Different policies of 29 states had to deal with. The politicians used to ask for alcohol and cash in the election. I only gave alcohol, because my company was the biggest. I did not bribe.
Question 9: Why did your 60th birthday party get into dispute?
answer: I spent my pocket for this party held in 2015. If we had done in London, then perhaps no one knows.
Question 10: What are Mallya’s life and future plans?
answer: I spend time with six dogs in London. Income comes from foreign liquor companies. I am fighting a legal battle. If I get a fair hearing, I will consider returning to India. If the jail is destined, I will face it.
Question 11: How does Mallya see his legacy?
answer: I want me to be remembered as a hardworking businessman who makes a market cap of 1.75 lakh crores and not as a thief. Kingfisher failed, but I tried my best. Business failure in India is considered a fraud.
Question 12: What are Mallya’s spiritual belief?
answer: I donated gold to Sabarimala and Tirupati temples. I trust God. If this difficult time is their will, then I accept.
Note: This question-answer is based on the podcast of Raj Shamani. Mallya’s claims were not confirmed independent. Readers make their opinion by looking at all sides.
Source link
[ad_3]
