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Vijay Mallya: Difference between revisions
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{{short description|Indian businessman and politician}} | {{short description|Indian businessman and politician}} | ||
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{{Use dmy dates|date=July 2016}} | {{Use dmy dates|date=July 2016}} | ||
{{Use British English|date= | {{Use British English|date=June 2012}} | ||
{{Infobox | {{Infobox officeholder | ||
| name = Vijay Mallya | | name = Vijay Mallya | ||
| image = Vijaymallya.jpg | | image = Vijaymallya.jpg | ||
| caption = Mallya in 2008 | | caption = Mallya in 2008 | ||
| birth_name = Vijay Vittal Mallya | | birth_name = Vijay Vittal Mallya | ||
| nickname = King of Good Times<ref>{{cite web | url=https://www.nytimes.com/2017/04/18/business/vijay-mallya-extradition.html | title=Vijay Mallya, Once India's 'King of Good Times', Is Arrested in London | newspaper=[[New York Times]] | first1=Amie |last1=Tsang |first2=Hari |last2=Kumar | date=18 April 2017 | | | nickname = King of Good Times<ref>{{cite web | url=https://www.nytimes.com/2017/04/18/business/vijay-mallya-extradition.html | title=Vijay Mallya, Once India's 'King of Good Times', Is Arrested in London | newspaper=[[New York Times]] | first1=Amie |last1=Tsang |first2=Hari |last2=Kumar | date=18 April 2017 | access-date=7 March 2018}}</ref><ref>{{cite web | title=India's former 'King of Good Times' beer baron Vijay Mallya, is arrested in London | newspaper=Los Angeles Times | first1=Shashank |last1=Bengali |first2=M. N. |last2=Parth | date=18 April 2017 | url=https://www.latimes.com/world/asia/la-fg-india-tycoon-20170418-story.html | access-date=7 March 2018}}</ref> | ||
| birth_date = {{birth date and age|df=yes|1955|12|18}}<ref name="mallyainparliament.in"/> | | birth_date = {{birth date and age|df=yes|1955|12|18}}<ref name="mallyainparliament.in"/> | ||
| party = [[Independent (politician)|Independent]] | | party = [[Independent (politician)|Independent]] | ||
| Line 16: | Line 17: | ||
| term_end1 = 9 April 2009 | | term_end1 = 9 April 2009 | ||
| constituency1 = [[Karnataka]] | | constituency1 = [[Karnataka]] | ||
| occupation = Businessman | | occupation = {{hlist|Businessman|politician}} | ||
| nationality = Indian | | nationality = Indian | ||
| signature = Signature of Vijay Mallya.svg | | signature = Signature of Vijay Mallya.svg | ||
| Line 24: | Line 25: | ||
| residence = London, England | | residence = London, England | ||
| alma_mater = [[La Martinière Calcutta]]<br/>[[St. Xavier's College, Kolkata]] | | alma_mater = [[La Martinière Calcutta]]<br/>[[St. Xavier's College, Kolkata]] | ||
}} | }} | ||
'''Vijay Vittal Mallya''' (born 18 December 1955) is an Indian businessman<ref>{{Cite news|url=https://www.thehindu.com/news/national/list-of-fugitive-economic-offenders-living-abroad/article24600603.ece|title=List of fugitive economic offenders living abroad| | '''Vijay Vittal Mallya''' (born 18 December 1955) is an Indian businessman<ref>{{Cite news|url=https://www.thehindu.com/news/national/list-of-fugitive-economic-offenders-living-abroad/article24600603.ece|title=List of fugitive economic offenders living abroad|author=The Hindu Net Desk|date=2018-08-04|work=The Hindu|access-date=2019-08-20|language=en-IN|issn=0971-751X}}</ref> and former [[Member of Parliament (India)|Member of Parliament]] ([[Rajya Sabha]]). He is the subject of an [[extradition]] effort by the [[Indian Government]] to return him from the UK to face charges of financial crimes in India.<ref name="ndtv20181210">{{cite web|url=https://www.ndtv.com/india-news/vijay-mallya-to-be-extradited-says-uk-judge-1960513|title=Vijay Mallya To Be Extradited Rules London Court: 10 Points|date=December 10, 2018|website=NDTV.com}}</ref> | ||
The son of a businessman who was also in the [[alcoholic beverage]]s business, Mallya is the ex-chairman of [[United Spirits]], the largest spirits company in India, and continues to serve as chairman of [[United Breweries Group]], an Indian [[Conglomerate (company)|conglomerate]] with interests including beverage alcohol, aviation infrastructure, [[real estate]] and [[fertilizer]]. He has been the chairman of [[Sanofi]] India (previously known as [[Hoechst AG]] and Aventis) and the chairman of [[Bayer#Bayer CropScience|Bayer CropScience]] in India for over 20 years, and the chairman of several other companies.<ref name="tofler.in">{{Cite web|url=https://www.tofler.in/blog/indian-companies-in-news/10-companies-vijay-mallya-is-a-director-in/|title=10 Companies Vijay Mallya is a Director in|website=www.tofler.in|language=en-US|access-date=14 July 2017}}</ref> Mallya was also the founder and former owner of defunct [[Kingfisher Airlines]] and former co-owner of the [[Force India]] Formula One team before it went into [[Administration in United Kingdom law|administration]]. He is also a former owner of the [[Royal Challengers Bangalore]] cricket team. | |||
==Early and personal life== | ==Early and personal life== | ||
Vijay Mallya is the son of [[Vittal Mallya]]<ref name="mallyainparliament.in">[http://www.mallyainparliament.in/about.htm Vijay Mallya Rajya Sabha MP] {{webarchive|url=https://web.archive.org/web/20120513153702/http://www.mallyainparliament.in/about.htm|date=13 May 2012}} Mallyainparliament.in. (Retrieved 2014-06-04).</ref> | Vijay Mallya is the son of [[Vittal Mallya]]<ref name="mallyainparliament.in">[http://www.mallyainparliament.in/about.htm Vijay Mallya Rajya Sabha MP] {{webarchive|url=https://web.archive.org/web/20120513153702/http://www.mallyainparliament.in/about.htm|date=13 May 2012}} Mallyainparliament.in. (Retrieved 2014-06-04).</ref> from [[Bantwal]], [[Mangalore]], [[Karnataka]]. Born to Vittal Mallya and Lalitha Ramaiah. Vittal Mallya was the Chairman of [[United Breweries Group]].<ref name="Portal">{{cite web |url=http://india.gov.in/my-government/indian-parliament/vijay-mallya|title=Vijay Mallya|website=India.gov.in: National Portal of India |archive-url=https://web.archive.org/web/20130603192045/http://india.gov.in/my-government/indian-parliament/vijay-mallya|archive-date=3 June 2013|url-status=dead}}</ref><ref name=":1" /> Vijay Mallya was educated at [[La Martiniere Calcutta|La Martinière Calcutta]], where he was appointed House Captain of Hastings house in his final year, and at [[St. Xavier's College, Kolkata]],<ref name="mallyainparliament.in" /><ref>Mathew, Fr. P.C., S.J., "[http://www.sxccal.edu/aims.htm Aims and Objectives] {{webarchive|url=https://web.archive.org/web/20100918090441/http://www.sxccal.edu/aims.htm|date=18 September 2010}}", St. Xavier's College, Kolkata (accessed May 2014).</ref> where he graduated with a [[Bachelor of Commerce]] degree (with honours) in 1976.<ref name="mallyainparliament.in" /><ref>{{Cite news |url=http://www.newindianexpress.com/business/2017/may/12/the-dethroned-king-of-good-times-1604123.html |title=The dethroned king of good times|work=The New Indian Express |access-date=14 July 2017}}</ref> 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.<ref>{{Cite book|url=https://books.google.com/books?id=dSEoAwAAQBAJ&pg=PT17|title=The Vijay Mallya Story |last=Giriprakash |first=K. |date=2014-04-15|publisher=Penguin UK|isbn=9789351186229|language=en}}</ref> | ||
In 1986, he met and married Sameera Sharma, an air hostess of [[Air India]]. They have one son, [[Siddharth Mallya]], who was born on 7 May 1987.<ref>{{Cite news|url=http://www.bornrich.com/sidhartha-mallya.html|title=Sidhartha Mallya|date=2011-12-21|work=Bornrich|access-date=14 July 2017|language=en-US}}</ref><ref name=":2">{{Cite news|url=http://daily.bhaskar.com/news/CEL-unseen-pictures-of-vijay-mallya-and-wives-4087634-PHO.html|title=Unseen pictures of Vijay Mallya and wives|date=2012-11-27|work=DailyBhaskar|access-date=14 July 2017|language=en}}</ref> They were divorced shortly afterwards, although Mallya has stated in interviews that he has a "great relationship" with his first wife.<ref name=":3">{{Cite news|url=http://www.dnaindia.com/entertainment/report-my-life-is-an-open-book-vijay-mallya-1025361|title=My life is an open book: Vijay Mallya|date=2006-04-21|work=[[Daily News & Analysis]]|access-date=14 July 2017|language=en-US}}</ref> In June 1993, Mallya married his current wife Rekha, whom he had known since childhood, and together they have two daughters, Leanna and Tanya.<ref name="mallyainparliament.in" /><ref>[http://india.gov.in/my-government/indian-parliament/vijay-mallya Parliamentary Profile]. {{webarchive|url=https://web.archive.org/web/20140501235622/http://india.gov.in/my-government/indian-parliament/vijay-mallya|date=1 May 2014}}. India.gov.in (18 December 1955). Retrieved on 2016-07-17.</ref><ref name=":4">{{Cite news|url=http://timesofindia.indiatimes.com/life-style/relationships/love-sex/I-do-I-do-I-do-/articleshow/6451104.cms|title=I do, I do, I do...|work=[[The Times of India]]|access-date=14 July 2017}}</ref> Rekha was previously married twice, and also has a daughter and son, Leila and Kabir, from a previous marriage.<ref name="Portal" /><ref name=":4" /> Mallya adopted Rekha's daughter Leila.<ref name=":2" /> He is reported to be preparing to marry for the third time, to former Kingfisher Airlines air-hostess Pinky Lalwani.<ref>{{cite web|url=https://timesofindia.indiatimes.com/india/fugitive-vijay-mallya-all-set-to-get-married-for-the-third-time/articleshow/63520062.cms|title=Fugitive Vijay Mallya all set to get married for the third time | In 1986, he met and married Sameera Sharma, an air hostess of [[Air India]]. They have one son, [[Siddharth Mallya]], who was born on 7 May 1987.<ref>{{Cite news|url=http://www.bornrich.com/sidhartha-mallya.html|title=Sidhartha Mallya|date=2011-12-21|work=Bornrich|access-date=14 July 2017|language=en-US}}</ref><ref name=":2">{{Cite news|url=http://daily.bhaskar.com/news/CEL-unseen-pictures-of-vijay-mallya-and-wives-4087634-PHO.html|title=Unseen pictures of Vijay Mallya and wives|date=2012-11-27|work=DailyBhaskar|access-date=14 July 2017|language=en}}</ref> They were divorced shortly afterwards, although Mallya has stated in interviews that he has a "great relationship" with his first wife.<ref name=":3">{{Cite news|url=http://www.dnaindia.com/entertainment/report-my-life-is-an-open-book-vijay-mallya-1025361|title=My life is an open book: Vijay Mallya|date=2006-04-21|work=[[Daily News & Analysis]]|access-date=14 July 2017|language=en-US}}</ref> In June 1993, Mallya married his current wife Rekha, whom he had known since childhood, and together they have two daughters, Leanna and Tanya.<ref name="mallyainparliament.in" /><ref>[http://india.gov.in/my-government/indian-parliament/vijay-mallya Parliamentary Profile]. {{webarchive|url=https://web.archive.org/web/20140501235622/http://india.gov.in/my-government/indian-parliament/vijay-mallya|date=1 May 2014}}. India.gov.in (18 December 1955). Retrieved on 2016-07-17.</ref><ref name=":4">{{Cite news|url=http://timesofindia.indiatimes.com/life-style/relationships/love-sex/I-do-I-do-I-do-/articleshow/6451104.cms|title=I do, I do, I do...|work=[[The Times of India]]|access-date=14 July 2017}}</ref> Rekha was previously married twice, and also has a daughter and son, Leila and Kabir, from a previous marriage.<ref name="Portal" /><ref name=":4" /> Mallya adopted Rekha's daughter Leila.<ref name=":2" /> He is reported to be preparing to marry for the third time, to former Kingfisher Airlines air-hostess Pinky Lalwani.<ref>{{cite web|url=https://timesofindia.indiatimes.com/india/fugitive-vijay-mallya-all-set-to-get-married-for-the-third-time/articleshow/63520062.cms|title=Fugitive Vijay Mallya all set to get married for the third time |date=28 March 2018|website=[[The Times of India]]|access-date=15 February 2019}}</ref> | ||
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 [[Ravi Shankar (spiritual leader)|Sri Sri Ravi Shankar]] and the [[Art of Living Foundation]].<ref name=":1" /> | 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 [[Ravi Shankar (spiritual leader)|Sri Sri Ravi Shankar]] and the [[Art of Living Foundation]].<ref name=":1" /> | ||
Vijay Mallya is an ardent devotee of [[Lord Venkateshwara]] of [[Tirupati]], [[Sabarimala| Sabarimala Ayyappa]] and [[Kukke Subrahmanya]]. On his 59th birthday in 2012 he offered 3 kgs of gold bricks to [[Venkateswara Temple, Tirumala]]. In 2012 he also donated | Vijay Mallya is an ardent devotee of [[Lord Venkateshwara]] of [[Tirupati]], [[Sabarimala|Sabarimala Ayyappa]] and [[Kukke Subrahmanya]]. On his 59th birthday in 2012, he offered 3 kgs of gold bricks to [[Venkateswara Temple, Tirumala]]. In 2012, he also donated {{INRConvert|8|m}} gold-plated doors for [[Kukke Subrahmanya]]. These were done at a time when the [[Kingfisher Airlines]] owned by him had to be shut down due to huge financial loses.<ref>{{cite news|title=Vijay Mallya offers 3kg gold to Lord Venkateswara on his 58th birthday|url=https://www.indiatoday.in/india/south/story/kingfisher-airlines-vijay-mallya-lord-venkateswara-shrine-124646-2012-12-18|publisher=India Today|access-date=18 December 2012}}</ref><ref>{{cite news|title=Vijay Mallya offers gold-plated doors worth Rs 80 lakh to Lord Subrahmanya|url=https://www.indiatoday.in/india/story/vijay-mallya-offers-gold-plated-doors-worth-rs-80-lakh-to-lord-subrahmanya-114151-2012-08-23|publisher=India Today|access-date=23 August 2012}}</ref> | ||
==Business and career== | ==Business and career== | ||
He is the ex-chairman of [[United Spirits]], the largest spirits company in India, and continues to serve as chairman of [[United Breweries Group]], an Indian conglomerate with interests including beverage alcohol, aviation infrastructure, real estate and fertilizer. He has been the chairman of [[Sanofi]] India (previously known as [[Hoechst AG]] and Aventis) and the chairman of [[Bayer CropScience Limited|Bayer CropScience]] in India for over 20 years, and the chairman of several other companies.<ref name="tofler.in"/> | He is the ex-chairman of [[United Spirits]], the largest spirits company in India, and continues to serve as chairman of [[United Breweries Group]], an Indian conglomerate with interests including beverage alcohol, aviation infrastructure, real estate and fertilizer. He has been the chairman of [[Sanofi]] India (previously known as [[Hoechst AG]] and Aventis) and the chairman of [[Bayer CropScience Limited|Bayer CropScience]] in India for over 20 years, and the chairman of several other companies.<ref name="tofler.in"/> | ||
The son of businessman [[Vittal Mallya]], he became the chairman of [[United Breweries Group]] in 1983 at the age of 28, following his father's death.<ref>{{Cite news|url=http://www.livemint.com/Companies/1YrLuntaxmNyeNoYFbUX1L/How-Vijay-Mallya-inherited-an-empire-and-then-proceeded-to-l.html|title=How Vijay Mallya inherited an empire and proceeded to lose it|last=Dalal|first=Mihir|date=26 February 2016 |work=Mint|access-date=14 July 2017}}</ref> 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 1998–1999. 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 magazines, and ''[[Cine Blitz]]'', a Bollywood magazine in 2001.<ref>{{cite web | title = Diageo-USL deal puts to test Mallya's credentials |publisher=[[Mint (newspaper)|Live Mint]]| url = http://www.livemint.com/Home-Page/ltAz4H445V3fEeceY8ghOL/Mallya.html |date=9 November 2012| | The son of businessman [[Vittal Mallya]], he became the chairman of [[United Breweries Group]] in 1983 at the age of 28, following his father's death.<ref>{{Cite news|url=http://www.livemint.com/Companies/1YrLuntaxmNyeNoYFbUX1L/How-Vijay-Mallya-inherited-an-empire-and-then-proceeded-to-l.html|title=How Vijay Mallya inherited an empire and proceeded to lose it|last=Dalal|first=Mihir|date=26 February 2016 |work=Mint|access-date=14 July 2017}}</ref> 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 1998–1999. 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 magazines, and ''[[Cine Blitz]]'', a Bollywood magazine in 2001.<ref>{{cite web | title = Diageo-USL deal puts to test Mallya's credentials |publisher=[[Mint (newspaper)|Live Mint]]| url = http://www.livemint.com/Home-Page/ltAz4H445V3fEeceY8ghOL/Mallya.html |date=9 November 2012| access-date = 30 July 2014 |first=Mihir |last=Dalal}}</ref> | ||
United's [[Kingfisher (beer)|Kingfisher beer]] has a more than 50% market share in India.<ref name="money.livemint.com">{{cite web|url=http://money.livemint.com/IID93/F106285/AccountingPolicies/Company.aspx|title=Accounting Policy, Bayer CropScience Ltd.|website=[[Mint (newspaper)|Live Mint]]| | United's [[Kingfisher (beer)|Kingfisher beer]] has a more than 50% market share in India.<ref name="money.livemint.com">{{cite web|url=http://money.livemint.com/IID93/F106285/AccountingPolicies/Company.aspx|title=Accounting Policy, Bayer CropScience Ltd.|website=[[Mint (newspaper)|Live Mint]]|access-date=2 June 2014|archive-url=https://web.archive.org/web/20131212080849/http://money.livemint.com/IID93/F106285/AccountingPolicies/Company.aspx|archive-date=12 December 2013|url-status=dead|df=dmy-all}} (section 4.1)</ref> It is available in 52 other countries, and leads among Indian beers in the international market.<ref name="money.livemint.com"/> | ||
[[United Spirits Ltd]], the flagship company of the UB Group, achieved the milestone of selling | [[United Spirits Ltd]], the flagship company of the UB Group, achieved the milestone of selling 100 million cases, becoming the second-largest spirits company in the world by volume, under Mallya's chairmanship.<ref name="money.livemint.com"/> In 2012, Mallya ceded management control of United Spirits Limited to global spirits giant [[Diageo]], retaining a minority stake in the business.<ref name=Forbes>"[https://www.forbes.com/profile/vijay-mallya/ India's Richest #84 Vijay Mallya]", ''[[Forbes]]'' (accessed May 2014).</ref> 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.<ref name="TIE20160313">{{cite news|last1=Narayan|first1=Khushboo|last2=Johnson|first2=T A|last3=Vikraman|first3=Shaji|title=Vijay Mallya: Once upon a time there was a king|url=http://indianexpress.com/article/india/india-news-india/sunday-story-once-upon-a-time-there-was-a-king-vijay-mallya/|access-date=13 March 2016|work=[[The Indian Express]]|date=13 March 2016}}</ref><ref name="WSJ20160308">{{cite news|last1=Rana|first1=Preetika|title=Vijay Mallya's Severance Payment From Diageo Halted by Indian Tribunal|url=https://blogs.wsj.com/indiarealtime/2016/03/08/vijay-mallyas-severance-payment-from-diageo-halted-by-indian-tribunal/|archive-url=https://web.archive.org/web/20160308085837/http://blogs.wsj.com/indiarealtime/2016/03/08/vijay-mallyas-severance-payment-from-diageo-halted-by-indian-tribunal/|url-status=dead|archive-date=8 March 2016|access-date=13 March 2016|work=[[The Wall Street Journal]]|date=8 March 2016}}</ref> | ||
[[Kingfisher Airlines]], established in 2005, was a major business venture launched by Mallya.<ref>[http://www.firstbiz.com/corporate/is-vijay-mallya-indias-worst-businessman-31640.html "Is Vijay Mallya India's worst businessman?"], ''[[First Post (India)|FirstBiz (First Post Business)]]'', 27 September 2012.</ref> It eventually became insolvent and had to be closed down.<ref>[http://www.thehindu.com/business/companies/nonbailable-arrest-warrant-issued-against-vijay-mallya/article3991252.ece "Non-bailable arrest warrant issued against Vijay Mallya]", ''[[The Hindu]]'', 12 October 2012.</ref><ref>"[http://ibnlive.in.com/news/cheques-bounce-case-warrant-against-kingfisher-vijay-mallya-on-gmrs-complaint/300085-7.html Cheques bounce case: Warrant against Kingfisher, Vijay Mallya on GMR's complaint]", ''[[CNN-IBN]]'', 12 October 2012.</ref> 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.<ref name=Forbes/> By November 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.<ref name="TIE20160313" /> As part of the Kingfisher collapse, Mallya is accused of being a "willful defaulter" under Indian law, including accusations of money laundering, misappropriation, etc.<ref name="TIE20160313" /><ref name="TIE20160311">{{cite news|title=What is Vijay Mallya accused of?|url=http://indianexpress.com/article/explained/what-is-vijay-mallya-accused-of/| | [[Kingfisher Airlines]], established in 2005, was a major business venture launched by Mallya.<ref>[https://web.archive.org/web/20140306064331/http://www.firstbiz.com/corporate/is-vijay-mallya-indias-worst-businessman-31640.html "Is Vijay Mallya India's worst businessman?"],{{dead link|date=November 2020}} ''[[First Post (India)|FirstBiz (First Post Business)]]'', 27 September 2012.</ref> It eventually became insolvent and had to be closed down.<ref>[http://www.thehindu.com/business/companies/nonbailable-arrest-warrant-issued-against-vijay-mallya/article3991252.ece "Non-bailable arrest warrant issued against Vijay Mallya]", ''[[The Hindu]]'', 12 October 2012.</ref><ref>"[https://web.archive.org/web/20121015002102/http://ibnlive.in.com/news/cheques-bounce-case-warrant-against-kingfisher-vijay-mallya-on-gmrs-complaint/300085-7.html Cheques bounce case: Warrant against Kingfisher, Vijay Mallya on GMR's complaint]", ''[[CNN-IBN]]'', 12 October 2012.</ref> 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.<ref name=Forbes/> By November 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.<ref name="TIE20160313" /> As part of the Kingfisher collapse, Mallya is accused of being a "willful defaulter" under Indian law, including accusations of money laundering, misappropriation, etc.<ref name="TIE20160313" /><ref name="TIE20160311">{{cite news|title=What is Vijay Mallya accused of?|url=http://indianexpress.com/article/explained/what-is-vijay-mallya-accused-of/|access-date=13 March 2016|work=[[The Indian Express]]|date=11 March 2016}}</ref> | ||
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.<ref>{{cite | 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.<ref>{{cite news |url=http://economictimes.indiatimes.com/news/politics-and-nation/13-banks-move-sc-to-stop-vijay-mallya-but-hes-already-left-india/articleshow/51322519.cms |title=13 banks move SC to stop Vijay Mallya but he has already left India |work=[[The Economic Times]] |date=9 March 2016 |access-date=4 December 2017 |first=Dhananjay |last=Mahapatra}}</ref> On 13 March 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.<ref name="TOI20160313">{{cite news|title=Hyderabad court issues non-bailable warrant against Vijay Mallya|url=http://timesofindia.indiatimes.com/india/Court-issues-non-bailable-warrant-against-Vijay-Mallya/articleshow/51382023.cms|access-date=13 March 2016|work=[[The Times of India]]|date=13 March 2016}}</ref><ref name="IBN20160312">{{cite news|last1=Suri|first1=Sanjay|title=Vijay Mallya still at UK country home, seeks expensive legal opinion|url=http://www.ibnlive.com/news/india/vijay-mallya-still-at-uk-country-home-seeks-expensive-legal-opinion-1215180.html|access-date=13 March 2016|work=[[CNN-IBN]]|date=12 March 2016}}</ref> On 18 April 2016, a special court in [[Mumbai]] also issued an undated non-bailable [[arrest warrant]] against the businessman. This was issued in response to a plea by the [[Enforcement Directorate]] on 15 April before the special court hearing cases under the [[Prevention of Money Laundering Act, 2002]].<ref>{{cite news|title=Mumbai court issues non-bailable warrant against Vijay Mallya in money laundering case|url=http://www.abplive.in/business/non-bailable-arrest-warrant-issued-against-mallya-324550|access-date=19 April 2016|work=IANS|publisher=ABP Live|date=18 April 2016}}</ref> There were allegations on him that he transferred {{INRConvert|4000|c}} to tax havens.<ref>{{cite web|url=http://www.actnownews.com/fooling-everyone-vijay-mallya-allegedly-transferred-rs-4000-crore-to-tax-havens/|title=Vijay Mallya Allegedly Transferred Rs 4,000 Crore To Tax Havens by fooling everyone|work=Act Now News|access-date=25 April 2016|archive-url=https://web.archive.org/web/20160506180346/http://www.actnownews.com/fooling-everyone-vijay-mallya-allegedly-transferred-rs-4000-crore-to-tax-havens/|archive-date=6 May 2016|url-status=dead|df=dmy-all}}</ref><ref>{{cite news|url=http://www.business-standard.com/article/current-affairs/did-vijay-mallya-s-company-transfer-rs-4-000-crores-to-a-tax-haven-116031500045_1.html|title=Did Vijay Mallya's company transfer Rs 4,000 crores to a tax haven?|author=Dev Chatterjee & PTI|newspaper=Business Standard India|date=15 March 2016}}</ref> | ||
In June 2016, the Enforcement Directorate (ED) reported it had "provisionally attached" {{INRConvert| | In June 2016, the Enforcement Directorate (ED) reported it had "provisionally attached" {{INRConvert|14.11|b}} rupees worth of Mallya's Indian assets and properties against unpaid loans totalling {{INRConvert|8.07|b}}.<ref>{{Cite news|url=http://www.thehindu.com/news/national/ED-attaches-assets-worth-Rs.1411-crore-of-Vijay-Mallya/article14422180.ece|title=ED attaches assets worth Rs.1,411 crore of Vijay Mallya|last=Pandey|first=Devesh|work=The Hindu|access-date=26 February 2017|language=en}}</ref><ref name="TNIE20160611">{{cite news|title=Vijay Mallya properties worth Rs 1,411 cr. attached by ED |url=http://www.newindianexpress.com/nation/Vijay-Mallya-properties-worth-Rs-1411-cr-attached-by-ED/2016/06/11/article3477854.ece|access-date=11 June 2016|work=[[The New Indian Express]]|date=11 June 2016}}</ref> On 3 September, it issued a second attachment order for a further {{INRConvert|66.30|b}} worth of Mallya's assets, including a farmhouse, shares in United Breweries and multiple flats in Bengaluru valued at {{INRConvert|5.65|b}}.<ref name="TNIE20160903">{{cite news|title=ED attaches Mallya's assets worth Rs 6,630 crore including his farmhouse, flats |url=http://www.newindianexpress.com/nation/ED-attaches-Mallyas-assets-worth-Rs-6630-crore-including-his-farmhouse-flats/2016/09/03/article3610805.ece|access-date=3 September 2016|work=[[The New Indian Express]]|date=3 September 2016}}</ref> By December 2016, the ED has attached a total of {{INRConvert|96.61|b}} worth of assets of Mallya and Kingfisher in India.<ref>{{cite news|title=Vijay Mallya's shares worth Rs1620 crore attached|access-date=24 January 2017|url=http://www.livemint.com/Companies/QcXHcqTOlbEyP4bKohsxpM/Vijay-Mallyas-shares-worth-Rs1620-crore-attached.html}}</ref> This is one of the largest attachment of assets made by the ED in a Prevention of Money Laundering Act case till now.<ref>{{cite news|title=Vijay Mallya PMLA case: ED seizes fresh assets worth Rs. 1,600 crore| access-date=24 January 2017| url=http://www.thehindu.com/news/national/Vijay-Mallya-PMLA-case-ED-seizes-fresh-assets-worth-Rs.-1600-crore/article16442976.ece}}</ref> The ED also decided to send [[letters rogatory]] (LR) to the US, the UK and Europe requesting them to assist it in attachment of Mallya's over ten foreign assets.<ref>{{Cite news|url=http://www.thehindu.com/news/national/democracy-liberal-enough-in-uk-for-defaulters-to-stay-jaitley/article17371267.ece|title=Democracy liberal enough in U.K. for defaulters to stay: Jaitley|last=PTI|work=The Hindu|access-date=26 February 2017|language=en}}</ref><ref>{{cite news|title=ED to send LRs for attaching Vijay Mallya's foreign properties|url=http://indianexpress.com/article/business/companies/ed-to-send-lrs-for-attaching-vijay-mallyas-foreign-properties-4379554/|access-date=24 January 2017 |work=[[The Indian Express]] |date=17 November 2017 }}</ref> | ||
In July 2020, Indian media reported that Mallya had offered a settlement package of {{INRConvert| | In July 2020, Indian media reported that Mallya had offered a settlement package of {{INRConvert|139.60|b|lk=|year=2020}} as against a total principal amount of {{INRConvert|90|b|lk=|year=2020}} to the consortium of Indian bankers pursuing litigation against him; this settlement was not accepted by the bankers.<ref>{{Cite web|last1=Jul 17|first1=Dhananjay Mahapatra {{!}} TNN {{!}} Updated|last2=2020|last3=Ist|first3=07:55|title=Vijay Mallya offers settlement package of Rs 13,960 crore - Times of India|url=https://timesofindia.indiatimes.com/business/india-business/vijay-mallya-offers-to-pay-up-but-govt-is-not-interested/articleshow/77009259.cms|access-date=2020-07-19|website=The Times of India|language=en}}</ref><ref>{{Cite web|title=Vijay Mallya makes last-ditch effort to avoid jail, offers settlement package of Rs 13,960 crore|url=https://www.businesstoday.in/current/economy-politics/vijay-mallya-makes-last-ditch-effort-to-avoid-jail-offers-settlement-package-of-rs-13960-crore/story/410165.html|access-date=2020-07-19|website=www.businesstoday.in}}</ref> | ||
==Political career== | ==Political career== | ||
[[File:Vijay Mallya 300.jpg|thumb|upright|Mallya in 2010]] | [[File:Vijay Mallya 300.jpg|thumb|upright|Mallya in 2010]] | ||
Previously a member of the [[Akhila Bharata Janata Dal]], Mallya joined the [[Subramanian Swamy]]-led [[Janata Party]] in 2003 and was its National Working President until 2010.<ref>{{cite web | title=Vijay Mallya joins Janata Party | website=Rediff.com | url=http://www.rediff.com/news/2003/apr/14mallya1.htm | | Previously a member of the [[Akhila Bharata Janata Dal]], Mallya joined the [[Subramanian Swamy]]-led [[Janata Party]] in 2003 and was its National Working President until 2010.<ref>{{cite web | title=Vijay Mallya joins Janata Party | website=Rediff.com | url=http://www.rediff.com/news/2003/apr/14mallya1.htm | access-date=15 March 2016}}</ref><ref>{{cite news | title=Vijay Mallya removed as Working President of Janata Party | newspaper=Business Standard India | date=8 June 2010 | url=http://www.business-standard.com/article/economy-policy/vijay-mallya-removed-as-working-president-of-janata-party-110060800197_1.html | access-date=15 March 2016| agency=Press Trust of India }}</ref><ref>{{cite web | title=Steering clear of the limelight by Aravind Gowda | website=India Today | date=26 February 2014 | url=http://indiatoday.intoday.in/story/aravind-gowda-on-lok-sabha-election-scenario-in-karnataka/1/345589.html | access-date=15 March 2016}}</ref> He was elected to the [[Rajya Sabha]] as independent member twice from his home state of Karnataka, first in 2002 with the support of the [[Janata Dal (Secular)]] and [[Indian National Congress]] and then in 2010 with the support of the [[Janata Dal (Secular)]] and [[Bharatiya Janata Party|BJP]].<ref>{{Cite web|url=https://www.india.com/news/india/both-bjp-congress-had-backed-vijay-mallyas-rajya-sabha-membership-1030313|title=Both BJP, Congress had backed Vijay Mallya's Rajya Sabha membership|website=[[India News, India.com]]|date=14 March 2016|access-date=14 March 2016}}</ref> | ||
On 2 May 2016, Mallya resigned from his post as a Rajya Sabha MP, a week after the Rajya Sabha ethics panel declared that he should no longer be a member of the House and one day before the panel was set to meet again to recommend his expulsion.<ref name=MallyaResignsHindu2May2016>{{cite | On 2 May 2016, Mallya resigned from his post as a Rajya Sabha MP, a week after the Rajya Sabha ethics panel declared that he should no longer be a member of the House and one day before the panel was set to meet again to recommend his expulsion.<ref name=MallyaResignsHindu2May2016>{{cite news | author=PTI | title=Vijay Mallya resigns from Rajya Sabha | website=[[The Hindu]] | date=2 May 2016 | url=http://www.thehindu.com/news/national/vijay-mallya-resigns-from-rajya-sabha/article8547747.ece | access-date=2 May 2016}}</ref> He had left India during this time,<ref name=":0" /> and his passport had been revoked.<ref>{{Cite web|url=http://www.huffingtonpost.in/2016/04/24/vijay-mallya-passport-revked_n_9766594.html|title=Vijay Mallya's Passport Revoked By Ministry Of External Affairs|website=[[Huffington Post India]]|date=24 April 2016|access-date=14 July 2017}}</ref> In his resignation letter, Mallya said he was "shocked that the Department of Financial Services, Ministry of Finance, Government of India has provided factually wrong information to a Parliament Committee" and that he was resigning because he had concluded that he would "not get a fair trial or justice".<ref name=MallyaResignsHindu2May2016/> | ||
== Controversies == | == Controversies == | ||
Once called the "King of Good Times" due to his extravagant lifestyle, Mallya and his companies have been embroiled in financial scandals, and controversies since 2012.<ref name=": | Once called the "King of Good Times" due to his extravagant lifestyle, Mallya and his companies have been embroiled in financial scandals, and controversies since 2012.<ref name=":0">{{Cite news|url=http://profit.ndtv.com/news/budget/article-vijay-mallya-left-country-on-march-2-government-lawyer-tells-court-1285360|title=Vijay Mallya Left Country On March 2, Government Tells Supreme Court|website=[[NDTV]]|access-date=14 July 2017}}</ref><ref name=":1">{{Cite web|url=http://www.rediff.com/money/2005/apr/08mallya.htm|title=Vijay Mallya: Mr High Spirits|website=www.rediff.com|access-date=14 July 2017}}</ref> Mallya left India on 2 March 2016 after saying he wanted to move to Britain to be closer to his children.<ref name=":0" /> A group of 17 Indian banks are trying to collect approximately {{INRConvert|90|b}} in loans which Mallya has allegedly routed to gain 100% or a partial stake in about 40 companies across the world. Several agencies including the [[Income Tax Department]] and the [[Central Bureau of Investigation]] are investigating Mallya for charges including financial fraud and money laundering,<ref>{{Cite news|url=http://indianexpress.com/article/india/india-news-india/kingfisher-airlines-loan-default-case-fraud-office-probes-17-firms-who-took-loans-to-fund-vijay-mallya/|title=Money laundering case: Fraud Office probes 17 firms who took loans to fund Vijay Mallya|date=2016-03-12|work=The Indian Express|access-date=14 July 2017|language=en-US}}</ref><ref>{{Cite news|url=http://www.dnaindia.com/money/report-vijay-mallya-may-have-routed-bank-loans-to-invest-in-over-40-companies-report-2207605|title=Vijay Mallya may have routed bank loans to invest in over 40 companies: report |date=2016-04-30|work=[[Daily News & Analysis]]|access-date=14 July 2017|language=en-US}}</ref><ref name=":0" /><ref>{{Cite web|url=http://timesofindia.indiatimes.com/Vijay-Mallya-King-of-bad-times/listshow/51321509.cms|title=Vijay Mallya: King of bad times |website=[[The Times of India]]|access-date=14 July 2017}}</ref> and the [[Attorney General of India|Attorney General]] said that Mallya's assets abroad are "far in excess to loans taken by him".<ref name=":0" /> The 17 banks added a joint petition at the [[Supreme Court of India]] in 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 {{INRconvert|9|b}} that had been loaned to his airline.<ref name=":0" /> | ||
On 24 April 2016, the [[Ministry of External Affairs (India)]] revoked Mallya's passport,<ref>{{Cite news|url=http://www.financialexpress.com/industry/banking-finance/sbi-seeks-vijay-mallyas-arrest-in-kingfisher-loan-default-case/218885/|title=SBI seeks Vijay Mallya's arrest in Kingfisher loan default case|date=2016-03-03|work=[[The Financial Express (India)|The Financial Express]]|access-date=14 July 2017|language=en-US}}</ref><ref>{{Cite web|url=http://www.huffingtonpost.in/2016/04/24/vijay-mallya-passport-revked_n_9766594.html|title=Vijay Mallya's Passport Revoked By Ministry Of External Affairs|website=[[Huffington Post India]]|date=24 May 2016|access-date=14 July 2017}}</ref> and he resigned from the [[Rajya Sabha]] on 2 May 2016, the day before their Ethics Committee was prepared to recommend his expulsion.<ref name=MallyaResignsHindu2May2016/> Currently the Enforcement Directorate is seeking [[Interpol]] to raise an international arrest warrant against Mallya.<ref>{{Cite news|url=http://indianexpress.com/article/business/companies/vijay-mallya-enforcement-directorate-interpol-red-corner-notice-2796621/|title=ED seeks Interpol Red Corner notice against Vijay Mallya|date=2016-05-13|work=The Indian Express|access-date=14 July 2017|language=en-US}}</ref><ref>{{Cite news|url=http://www.thehindubusinessline.com/news/external-affairs-ministry-awaits-ed-notice-to-officially-extradite-mallya/article8586313.ece|title=External Affairs Ministry awaits ED notice to officially extradite Mallya|last=Basu|first=Nayanima|date=2016-05-11|work=The Hindu Business Line|access-date=14 July 2017|language=en}}</ref> Also, the [[High Court of Judicature at 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 Group|GMR Hyderabad International Airport Ltd]] by issuing them a [[Non-sufficient funds|dishonoured cheque]] for {{INRConvert| | On 24 April 2016, the [[Ministry of External Affairs (India)]] revoked Mallya's passport,<ref>{{Cite news|url=http://www.financialexpress.com/industry/banking-finance/sbi-seeks-vijay-mallyas-arrest-in-kingfisher-loan-default-case/218885/|title=SBI seeks Vijay Mallya's arrest in Kingfisher loan default case|date=2016-03-03|work=[[The Financial Express (India)|The Financial Express]]|access-date=14 July 2017|language=en-US}}</ref><ref>{{Cite web|url=http://www.huffingtonpost.in/2016/04/24/vijay-mallya-passport-revked_n_9766594.html|title=Vijay Mallya's Passport Revoked By Ministry Of External Affairs|website=[[Huffington Post India]]|date=24 May 2016|access-date=14 July 2017}}</ref> and he resigned from the [[Rajya Sabha]] on 2 May 2016, the day before their Ethics Committee was prepared to recommend his expulsion.<ref name=MallyaResignsHindu2May2016/> Currently the Enforcement Directorate is seeking [[Interpol]] to raise an international arrest warrant against Mallya.<ref>{{Cite news|url=http://indianexpress.com/article/business/companies/vijay-mallya-enforcement-directorate-interpol-red-corner-notice-2796621/|title=ED seeks Interpol Red Corner notice against Vijay Mallya|date=2016-05-13|work=The Indian Express|access-date=14 July 2017|language=en-US}}</ref><ref>{{Cite news|url=http://www.thehindubusinessline.com/news/external-affairs-ministry-awaits-ed-notice-to-officially-extradite-mallya/article8586313.ece|title=External Affairs Ministry awaits ED notice to officially extradite Mallya|last=Basu|first=Nayanima|date=2016-05-11|work=The Hindu Business Line|access-date=14 July 2017|language=en}}</ref> Also, the [[High Court of Judicature at 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 Group|GMR Hyderabad International Airport Ltd]] by issuing them a [[Non-sufficient funds|dishonoured cheque]] for {{INRConvert|5|m}}.<ref>{{Cite news|url=http://timesofindia.indiatimes.com/india/Court-issues-non-bailable-warrant-against-Vijay-Mallya/articleshow/51382023.cms|title=Hyderabad court issues non-bailable warrant against Vijay Mallya |work=[[The Times of India]] |access-date=14 July 2017}}</ref> | ||
On 13 June 2016, the Prevention of Money Laundering Act (PMLA) court declared Mallya a "proclaimed offender" on a request by the Enforcement Directorate (ED) in connection with its money laundering probe against him in an alleged | On 13 June 2016, the Prevention of Money Laundering Act (PMLA) court declared Mallya a "proclaimed offender" on a request by the Enforcement Directorate (ED) in connection with its money laundering probe against him in an alleged {{INRConvert|90|b}} loan default case.<ref>{{cite news| url=http://www.thehindu.com/news/national/Court-declares-Mallya-a-proclaimed-offender/article14422240.ece |title=Court declares Mallya a proclaimed offender |first=Sonam |last=Saigal |work=[[The Hindu]] |date=14 June 2016 |access-date=4 December 2017}}</ref> | ||
Mallya co-owned the [[Formula One]] team | Mallya co-owned the [[Formula One]] team [[Force India]] from 2007 to 2018. In the middle of the [[2018 Formula One World Championship|2018 Formula One season]], Sahara Force India went into administration due to financial trouble.<ref>{{cite web| url=https://auto.ndtv.com/news/force-india-f1-team-future-secured-marks-end-of-vijay-mallya-era-1897066| title=Force India F1 Team Future Secured, Marks End Of Vijay Mallya Era| author=Cyrus Dhabhar| publisher=Car and Bike| access-date=24 August 2018}}</ref> In August 2018 the team's assets were purchased by [[Racing Point F1 Team]], and continued to race under the Force India name for the remainder of the 2018 season.<ref>{{cite web| url=https://www.autosport.com/f1/news/138209/how-the-fia-used-its-own-rules-to-save-force-india| title=How the FIA used little-known Formula 1 rules to save Force India| author=Adam Cooper| publisher=Autosport| access-date=2 December 2018}}</ref><ref>{{Cite news|url=http://timesofindia.indiatimes.com/sports/racing/top-stories/vijay-mallya-quits-as-indias-top-representative-to-fia/articleshow/59545477.cms|title=Vijay Mallya quits as India's top representative to FIA |work=[[The Times of India]] |access-date=14 July 2017}}</ref> | ||
=== Accusations === | === Accusations === | ||
On 18 April 2017, Mallya was arrested by the UK Metropolitan Police extradition unit "on behalf of the Indian authorities in relation to accusations of fraud", and was released on bail pending further consideration of the case.<ref>{{Cite news|url=https://www.bbc.com/news/business-39627135|title=Indian tycoon Vijay Mallya bailed in UK|date=18 April 2017|work=[[BBC News]]|access-date=14 July 2017|language=en-GB}}</ref><ref>{{Cite news|url=http://www.thehindu.com/news/national/mallya-extradition-case-hearing-at-uk-court-tomorrow/article18967535.ece|title=Mallya extradition case hearing today in U.K.|work=The Hindu|access-date=14 July 2017|language=en}}</ref> On 9 May 2017, the [[Supreme Court of India]] found Mallya guilty of [[contempt of court]] and summoned him to appear on 10 July.<ref>{{Cite news|url=http://www.ndtv.com/india-news/vijay-mallya-found-guilty-of-contempt-of-court-by-supreme-court-1691217|title=Vijay Mallya Misled Us On Wealth, Says Supreme Court, Hauls Him For Contempt|work=[[NDTV]]|access-date=14 July 2017}}</ref> When he failed to appear, the Supreme Court said the contempt case would only proceed further after he is produced before the court.<ref>{{cite web |url=http://timesofindia.indiatimes.com/india/sc-demands-vijay-mallyas-presence-to-proceed-in-contempt-case/articleshow/59594539.cms |title=SC demands Vijay Mallya's presence to proceed in contempt case |date=14 July 2017 |newspaper=[[The Times of India]] | | On 18 April 2017, Mallya was arrested by the UK Metropolitan Police extradition unit "on behalf of the Indian authorities in relation to accusations of fraud", and was released on bail pending further consideration of the case.<ref>{{Cite news|url=https://www.bbc.com/news/business-39627135|title=Indian tycoon Vijay Mallya bailed in UK|date=18 April 2017|work=[[BBC News]]|access-date=14 July 2017|language=en-GB}}</ref><ref>{{Cite news|url=http://www.thehindu.com/news/national/mallya-extradition-case-hearing-at-uk-court-tomorrow/article18967535.ece|title=Mallya extradition case hearing today in U.K.|work=The Hindu|access-date=14 July 2017|language=en}}</ref> On 9 May 2017, the [[Supreme Court of India]] found Mallya guilty of [[contempt of court]] and summoned him to appear on 10 July.<ref>{{Cite news|url=http://www.ndtv.com/india-news/vijay-mallya-found-guilty-of-contempt-of-court-by-supreme-court-1691217|title=Vijay Mallya Misled Us On Wealth, Says Supreme Court, Hauls Him For Contempt|work=[[NDTV]]|access-date=14 July 2017}}</ref> When he failed to appear, the Supreme Court said the contempt case would only proceed further after he is produced before the court.<ref>{{cite web |url=http://timesofindia.indiatimes.com/india/sc-demands-vijay-mallyas-presence-to-proceed-in-contempt-case/articleshow/59594539.cms |title=SC demands Vijay Mallya's presence to proceed in contempt case |date=14 July 2017 |newspaper=[[The Times of India]] |access-date=26 July 2017}}</ref> Mallya dismissed the proceedings against him – calling the situation a "witch hunt".<ref name=Witch/> He said "I have done absolutely nothing wrong. In fact I am glad that it is finally before a UK court and an impartial court. So we wait and see how it plays out."<ref name=Witch>{{cite news |url=http://www.indiatimes.com/news/india/fugitive-vijay-mallya-who-owes-the-country-1-4-billion-says-there-s-nothing-to-miss-about-india-325832.html |title=Fugitive Vijay Mallya Who Owes the Country $1.4 Billion, Says There's Nothing to Miss about India |newspaper=[[The Times of India]] |date=14 July 2017 |access-date=26 July 2017}}</ref> In the meantime, he is not allowed to leave Britain, but he said that is no hardship for him.<ref name=Witch/> He said "There's nothing to miss" for him about India, since his immediate family has all moved to England or the United States.<ref name=Witch/> | ||
On 3 October 2017, Mallya was arrested as part of a money-laundering case in London and was released on bail.<ref>{{cite web|url=http://timesofindia.indiatimes.com/india/vijay-mallya-arrested-in-london-in-money-laundering-case/articleshow/60925479.cms|title=Vijay Mallya arrested in London in money laundering case, gets bail |website=[[The Times of India]] | | On 3 October 2017, Mallya was arrested as part of a money-laundering case in London and was released on bail.<ref>{{cite web|url=http://timesofindia.indiatimes.com/india/vijay-mallya-arrested-in-london-in-money-laundering-case/articleshow/60925479.cms|title=Vijay Mallya arrested in London in money laundering case, gets bail |website=[[The Times of India]] |access-date=4 October 2017}}</ref> | ||
An appeal to extradite him from Britain was filed on charges of bank fraud estimated at | An appeal to extradite him from Britain was filed on charges of bank fraud estimated at {{INRConvert|90|b}}. The final hearing on extradition will be held at the Westminster Magistrate's Court on July 31. | ||
Mallya is on bail since his arrest on an extradition warrant in April 2017. Mallya is fighting an extradition case in the UK. On 16 June 2018 Vijay Mallya was ordered to pay £200,000 ( | Mallya is on bail since his arrest on an extradition warrant in April 2017. Mallya is fighting an extradition case in the UK. On 16 June 2018 Vijay Mallya was ordered to pay £200,000 (₹18.1 million) to Indian banks by a United Kingdom court. He was also asked to pay money towards registration of worldwide freezing order and of Karnataka's Debt Recovery Tribunal (DRT). Vijay Mallya has to pay dues to 13 banks namely- SBI, BOB, Corporation Bank, Federal Bank Ltd, IDBI Bank, Indian Overseas Bank, J&K Bank, Punjab and Sind Bank, PNB, State Bank of Mysore, UCO Bank, UBI and JM Financial Asset Reconstruction Co. Pvt Ltd.<ref>{{cite web|url=https://in.finance.yahoo.com/news/vijay-mallya-ordered-pay-200-055336010.html|title=Vijay Mallya ordered to pay £200,000 to Indian banks}}</ref> The consortium attempted to gain possession of Mallya's £20 million property on [[Cornwall Terrace]] in London, but Mallya claimed it was owned by his mother.<ref name="Yahoo">{{cite news |last1=Saikia |first1=Gogona |title=Mallya says his UK properties aren't his.So whose are they? |url=https://in.news.yahoo.com/mallya-says-uk-properties-aren-131607172.html |access-date=3 July 2019 |work=Yahoo News India |date=11 July 2018}}</ref> | ||
[[UBS]] went to court in 2018, seeking to evict Mallya, his son Sidhartha and his mother Lalith from Cornwall Terrace. A trial was set for May 2019.<ref name="Canton">{{cite news |last1=Canton |first1=Naomi |title=UK judge throws out most of Mallya's arguments as he makes desperate bid to hang on to London mansion |url=http://timesofindia.indiatimes.com/articleshow/66758233.cms | | [[UBS]] went to court in 2018, seeking to evict Mallya, his son Sidhartha and his mother Lalith from Cornwall Terrace. A trial was set for May 2019.<ref name="Canton">{{cite news |last1=Canton |first1=Naomi |title=UK judge throws out most of Mallya's arguments as he makes desperate bid to hang on to London mansion |url=http://timesofindia.indiatimes.com/articleshow/66758233.cms |access-date=3 July 2019 |work=[[The Times of India]] |date=23 November 2018}}</ref> The trial did not go ahead since Mallya drew up a settlement with UBS. According to the terms of the agreement, Mallya can remain in the property and if the mortgage is not repaid by April 2020, UBS has a right to immediate possession. Mallya must also pay the interest of £820,333 accrued up to April 2019 plus any further amount accrued up to 1 May 2020. He was also instructed to pay legal costs of £1,047,081 and receivers' costs of £223,863.<ref name="FP">{{cite news |title=Vijay Mallya settles for more time with Swiss bank to pay off mortgage for plush London home |url=https://www.firstpost.com/business/vijay-mallya-settles-for-more-time-with-swiss-bank-to-pay-off-mortgage-for-plush-london-home-6633881.html |access-date=3 July 2019 |work=First Post |agency=Press Trust of India |date=15 May 2019}}</ref> In December 2018, the court ruled that he can be extradited to India to face fraud investigations.<ref name=ndtv20181210 /> In July 2019, Mallya was granted permission to appeal to London's High Court against his extradition.<ref>{{cite news|url=https://www.ft.com/content/a8996bae-9cda-11e9-9c06-a4640c9feebb|title=Vijay Mallya granted permission to appeal against extradition|date=2 July 2019|newspaper=Financial Times}}</ref> In April 2020, the plea file by Vijay Mallya against his extradition to India was rejected by London High court.<ref>{{Cite web|last=Pandey|first=Munish|date=April 20, 2020|title=UK court rejects Vijay Mallya's appeal, may get extradited to India in few weeks|url=https://www.indiatoday.in/india/story/uk-court-rejects-vijay-mallya-s-appeal-may-get-extradited-to-india-in-few-weeks-1669059-2020-04-20|url-status=live|access-date=2021-09-27|website=India Today|language=en}}</ref> | ||
Vijay Mallya | Vijay Mallya lost his final appeal against extradition. Mallya had filed an appeal in the UK Supreme Court earlier in month of May 2020 in the wake of losing an appeal in the London High Court against an extradition order to India on alleged charges of fraud and money laundering related to unrecovered loans to Kingfisher Airlines. It was said that he could be extradited in next 28 days.<ref>{{cite news|url=https://www.moneycontrol.com/news/business/vijay-mallya-loses-final-appeal-against-extradition-5266681.html|title=Vijay Mallya loses final appeal against extradition|date=14 May 2020|newspaper=moneycontrol.com}}</ref><ref>{{cite news |title=End of good times: Vijay Mallya To Return To India |url=https://www.thehansindia.com/news/national/end-of-good-times-vijay-mallya-may-be-flown-to-india-tonight-says-report-626079 |agency=thehansindia.com}}</ref> However, in October 2020 the Indian government was notified that Mallya could not be currently extradited due to an unspecified "confidential legal matter".<ref>{{Cite web|date=9 October 2020|title=Mallya's extradition from Britain not possible, India told|url=https://www.deccanchronicle.com/nation/crime/091020/mallyas-extradition-from-britain-not-possible-india-told.html|access-date=30 October 2020|website=Deccan Chronicle|language=en}}</ref> | ||
===Leaked documents=== | ===Leaked documents=== | ||
Mallya was named in the [[Panama Papers]] and [[Paradise Papers]], [[Data breach|leaked]] confidential documents relating to [[offshore investment]].<ref>{{cite news|last1=Tandon|first1=Suneera|title=The Indian superstars of tax haven leaks: Amitabh Bachchan and Vijay Mallya|url=https://qz.com/1121170/from-paradise-papers-to-the-panama-leaks-amitabh-bachchan-and-vijay-mallya-are-never-missing/| | Mallya was named in the [[Panama Papers]] and [[Paradise Papers]], [[Data breach|leaked]] confidential documents relating to [[offshore investment]].<ref>{{cite news|last1=Tandon|first1=Suneera|title=The Indian superstars of tax haven leaks: Amitabh Bachchan and Vijay Mallya|url=https://qz.com/1121170/from-paradise-papers-to-the-panama-leaks-amitabh-bachchan-and-vijay-mallya-are-never-missing/|access-date=9 November 2017|work=[[Quartz India]]|date=7 November 2017}}</ref><ref>{{cite news|last1=Moudgal|first1=Sandeep|last2=Kumar|first2=Chethan|title=Panama Papers: Vijay Mallya directly linked to firm in Virgin Islands|url=https://timesofindia.indiatimes.com/business/india-business/Panama-Papers-Vijay-Mallya-directly-linked-to-firm-in-Virgin-Islands/articleshow/51736218.cms|access-date=10 November 2017|work=[[The Times of India]]|date=April 8, 2016}}</ref> | ||
==Awards== | ==Awards== | ||
Mallya has received several professional awards both in India and overseas: | 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).<ref name="mallyainparliament.in"/><ref name="money.livemint.com"/><ref name=UBgenesis>{{cite web |url=http://www.theubgroup.com/profile_genesis.aspx |title=Genesis Profile Dr. Vijay Mallya Chairman |work=[[UB Group]] | | * [[Honorary degree]] of [[Doctorate of Philosophy]] in Business Administration, by the [[Southern California University for Professional Studies]] (1997) Southern California University is not affiliated with the prestigious University of Southern California.<ref name="mallyainparliament.in"/><ref name="money.livemint.com"/><ref name=UBgenesis>{{cite web |url=http://www.theubgroup.com/profile_genesis.aspx |title=Genesis Profile Dr. Vijay Mallya Chairman |work=[[UB Group]] |access-date=3 June 2014 |archive-url=https://web.archive.org/web/20140925123831/http://theubgroup.com/profile_genesis.aspx |archive-date=25 September 2014 |url-status=dead |df=dmy-all }} (p. 13)</ref> | ||
* "[[Legion of Honour|Officier de la Légion d'Honneur]]" (sometime prior to 2012), a high award of recognition in France (sometime prior to 2014).<ref name=" | * "[[Legion of Honour|Officier de la Légion d'Honneur]]" (sometime prior to 2012), a high award of recognition in France (sometime prior to 2014).<ref name="money.livemint.com"/><ref name=UBgenesis/><ref name="mallyainparliament.in"/> | ||
* "Global leader for tomorrow", [[World Economic Forum]] (sometime prior to 2014).<ref name="money.livemint.com"/><ref name=UBgenesis/> | * "Global leader for tomorrow", [[World Economic Forum]] (sometime prior to 2014).<ref name="money.livemint.com"/><ref name=UBgenesis/> | ||
* "Entrepreneur of the Year" award at [[The Asian Awards]] (2010).<ref>[https | * "Entrepreneur of the Year" award at [[The Asian Awards]] (2010).<ref>[https://www.prnewswire.com/news-releases/the-asian-awards-winners-list-106600953.html The Asian Awards Winners List]. 4 November 2010. PRNewswire. PR Newswire Europe Limited (a United Business Media company). Retrieved 3 June 2014.</ref> | ||
==See also== | ==See also== | ||
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==External links== | ==External links== | ||
{{Commons category|Vijay Mallya}} | {{Commons category|Vijay Mallya}} | ||
* [http://www.theubgroup.com/ United Breweries (UB) Group] | * [http://www.theubgroup.com/ United Breweries (UB) Group] | ||
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[[Category:Janata Party politicians]] | [[Category:Janata Party politicians]] | ||
[[Category:People named in the Panama Papers]] | [[Category:People named in the Panama Papers]] | ||
[[Category:United Breweries Group]] | |||
[[Category:Force India]] | |||
[[Category:People named in the Paradise Papers]] | |||
[[Category:Officiers of the Légion d'honneur]] | |||