Vijay Mallya
Indian businessman
Vijay Mallya
Vijay Mallya is an Indian liquor and airline baron. The son of industrialist Vittal Mallya, he is the chairman of the United Breweries Group and Kingfisher Airlines. His United Spirits is world's second largest liquor maker, by volume. Mallya is also an MP in the Indian Rajya Sabha. He also co-owns the Formula One team Force India, the Indian Premier League team Bangalore Royal Challengers,the I-League teams Mohun Bagan A. C and East Bengal FC.
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'Vijay Mallya can't avoid the law': Herts villagers on 'fugitive' billionaire neighbour
Guardian (UK) - 3 days
Residents of sleepy English village of Tewin give verdict on Kingfisher Airlines tycoon, wanted in India to face allegations of fraud Vijay Mallya, the multimillionaire co-owner of the Force India Formula One team and self-proclaimed “King of the Good Times”, does not appear to be preparing for his possible extradition to India to face a fraud trial on allegations over £1bn of unpaid debts. Landscape gardeners were this week laying a truckload of fresh turf in the grounds of his £11.5m mansion in the sleepy Hertfordshire village of Tewin, nearly Welwyn, 20 miles north of London. After the installation of three fountains in one of two garden pools and a four-car garage to house a fraction of his collection of 260 classic cars, the lawn should be the last step in the two-year makeover of his Ladywalk estate on Queen Hoo Lane. Continue reading...
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Guardian (UK) article
Indian Tycoon Vijay Mallya Arrested in U.K. on Fraud Charges
Wall Street Journal - 6 days
Tycoon Vijay Mallya, once feted as India’s “King of Good Times,” was arrested in London by British police, following a request by Indian authorities seeking to extradite him to face allegations of fraud.
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Wall Street Journal article
India's former 'King of Good Times,' beer baron Vijay Mallya, is arrested in London
LATimes - 6 days
Former Indian tycoon Vijay Mallya was arrested Tuesday in London in what was seen as the start of a lengthy legal battle to return him to his home country to face fraud and money laundering charges. The self-proclaimed “King of Good Times,” who led a lavish lifestyle while racking up $1.4 billion...
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LATimes article
Indian business tycoon Vijay Mallya arrested in the U.K.
CNN - 6 days
The law has finally caught up with Indian tycoon Vijay Mallya.
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CNN article
Exclusive: F1 boss Mallya sees no grounds for extradition - 2 months
SILVERSTONE, England (Reuters) - Vijay Mallya, the one-time billionaire who co-owns the Force India Formula One team, said on Wednesday Indian authorities had no grounds to extradite him from Britain and he would not be leaving.
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UPDATE 1-Kingfisher tycoon Vijay Mallya charged in loan default case - 3 months
MUMBAI, Jan 24 (Reuters) - Vijay Mallya, the Indian liquor and aviation tycoon, was charged on Tuesday with conspiracy and fraud connected to a 9 billion rupee ($132 million) loan granted by a...
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Fugitive Indian tycoon Mallya cries foul over Twitter hack - 5 months
MUMBAI (Reuters) - Fugitive Indian businessman Vijay Mallya said on Friday that his Twitter account had been penetrated by a hacking group called Legion, which posted links to what it alleged were details of Mallya's bank accounts, offshore investments and luxury cars.
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Vijay Mallya PMLA case: Court confirms Rs 1411 crore attachment order - Economic Times
Google News - 5 months
Economic Times Vijay Mallya PMLA case: Court confirms Rs 1411 crore attachment order Economic Times NEW DELHI: A special anti-money laundering court here has confirmed an attachment of assets order worth Rs 1,411 crore issued by the ED against UBHL and others in connection with its money laundering probe against liquor baron Vijay Mallya and others ... HC rejects Mallya's application to recall orderTimes of India Karnataka HC indicates it may issue warrant against MallyaThe New Indian Express Karnataka High Court rejects Vijay Mallya's plea for recalling orderThe Indian Express The Hindu -Financial Express -Livemint -Deccan Herald all 9 news articles »
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Vijay Mallya officially declared an “absconder” - The Hindu
Google News - 6 months
NDTV Vijay Mallya officially declared an “absconder” The Hindu After multiple warrants and being declared a proclaimed offender liquor baron Vijay Mallya has been declared an “absconder” by the Prevention of Money Laundering Act (PMLA) court on Thursday. On October 26, the Enforcement Directorate (ED) had ... Special court declares Vijay Mallya an absconderThe Indian Express PMLA court in Mumbai declares liquor baron Vijay Mallya an 'absconder'India Today Mumbai Court Declares Vijay Mallya Proclaimed OffenderNDTV Business Standard -Financial Express -The Asian Age all 7 news articles »
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Motor racing-Perez keen to confirm 2017 seat in coming week
Yahoo News - 7 months
By Abhishek Takle SEPANG, Malaysia, Sept 29 (Reuters) - Force India's Sergio Perez hopes to shed some light on where he will be driving in 2017 by the end of next week, with the Mexican conducting negotiations that he described as key to his Formula One career. "I believe that next week is crucial to sort out my future," Perez told reporters at the Sepang circuit on Thursday as he prepares for this weekend's Malaysian Grand Prix. "I really hope that by next weekend we will all know." Perez's future has been the subject of speculation for some time with Force India team principal Vijay Mallya saying in July that both the Mexican and his German team mate Nico Hulkenberg would be staying at the team next season.
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Yahoo News article
Special Report: Singapore Grand Prix: Force India Defies the Doubters
NYTimes - 7 months
Since the Indian entrepreneur Vijay Mallya took over the Formula One team in 2008, it's success has continued to grow.
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NYTimes article
Force India target fourth, switch focus to 2017 car
Yahoo News - 10 months
By Alan Baldwin SILVERSTONE, England (Reuters) - Force India principal Vijay Mallya hailed a big step forward for his Silverstone-based Formula One team on Sunday even if their main focus of development has shifted to next year's car. Mexican Sergio Perez and German Nico Hulkenberg finished sixth and seventh in the British Grand Prix for the team's best result at the circuit just over the road from their factory. Force India were fifth last year, a position they currently occupy.
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Yahoo News article
From Subrata Roy to Mallya: The curious case of ultra rich Indians do not repay even risking a jail term - Firstpost
Google News - 12 months
Firstpost From Subrata Roy to Mallya: The curious case of ultra rich Indians do not repay even risking a jail term Firstpost Here's the billion dollar question. Why do super rich Indians not pay back the money they owe to banks and investors even risking ill-repute, and chances of imprisonment? The two recent examples are that of Sahara's Subrata Roy who has been in jail for ... ED seeks Interpol help for Red Corner Notice against MallyaBusiness Standard MEA awaiting ED's advice on next action against Vijay Mallya: Vikas SwarupThe Indian Express After ED, CBI writes to Interpol for red corner notice against Vijay MallyaEconomic Times Daily News & Analysis -Deccan Chronicle -Zee News all 254 news articles »
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Motor racing-Absent Mallya hopes for Force India boost in Spain
Yahoo News - 12 months
By Alan Baldwin LONDON, May 9 (Reuters) - Embattled Force India co-owner Vijay Mallya will not be attending Sunday's Spanish Grand Prix but he is hoping for a change of fortune on the track at least for his Formula One team in Barcelona. The Indian government last month revoked Mallya's diplomatic passport, which he had been entitled to as a member of the upper house of parliament, and asked Britain to deport him. Indian bankers are seeking repayment of about $1.4 billion owed by his defunct Kingfisher Airlines.
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I Quit: In Letter From London, Vijay Mallya Resigns As MP - NDTV
Google News - 12 months
NDTV I Quit: In Letter From London, Vijay Mallya Resigns As MP NDTV Before he could be expelled, tycoon Vijay Mallya has resigned from the Rajya Sabha in a letter sent from London. The Ethics Committee of Rajya Sabha was prepping to remove Mr Mallya this week. "I don't want my name and reputation to be further dragged ... Liquor baron Vijay Mallya resigns as MP; says he is disappointed with RS colleaguesFirstpost Vijay Mallya, facing allegations of money laundering, resigns as Rajya Sabha MPTimes of India Vijay Mallya resigns as Rajya Sabha MPDaily News & Analysis Hindustan Times -Zee News -India Today all 37 news articles »
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Learn about memorable moments in the evolution of Vijay Mallya
  • 2016
    Age 60
    On 11 June 2016, the Enforcement Directorate reported it had "provisionally attached" rupees worth of Mallya's Indian assets and properties against unpaid loans totalling.
    More Details Hide Details On 3 September, it issued a second attachment order for a further worth of Mallya's assets, including a farmhouse, shares in United Breweries and multiple flats in Bengaluru valued at.
    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. On 18 April 2016, a special court in Mumbai also issued an undated non-bailable Arrest warrant against the businessman.
    More Details Hide Details 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. There were allegations on him that he transferred crore Indian rupees to tax havens.
    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.
    More Details Hide Details As per media reports, he had already left India.
    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 Hyderabad International Airport Ltd by issuing them a dishonoured cheque for.
    More Details Hide Details Mallya also co-owns the Formula One team Sahara Force India. His companies own Indian Premier League team Royal Challengers Bangalore, the I-League teams Mohun Bagan AC and East Bengal FC. He is also a member of the World Motor Sport Council representing India in the FIA. He is also known for having launched Kingfisher Airlines, an airline established as a major business venture in 2005 that later became insolvent and was shut down in 2012. Mallya also served in the Rajya Sabha, the upper house of the Parliament of India, for his home state Karnataka.
    On 24 April 2016, the Ministry of External Affairs (India) revoked Mallya's passport, and he resigned from the Rajya Sabha on 2 May 2016, the day before the Ethics Committee of the Rajya Sabha was prepared to recommend his expulsion.
    More Details Hide Details Currently the Enforcement Directorate is seeking Interpol to raise an international arrest warrant against Mallya.
    The 17 banks petitioned 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 that had been loaned to his airline.
    More Details Hide Details
    Mallya left India on 2 March 2016 after saying he wanted to move to Britain to be closer to his children.
    More Details Hide Details A group of 17 Indian banks are trying to collect approximately in loans which Mallya has allegedly routed to gain 100% or a partial stake in about 40 companies across the world. Investigative agencies, such as Income Tax Department and the Central Bureau of Investigation for charges including financial fraud and money laundering, and the Attorney General said that Mallya's assets abroad are "far in excess to loans taken by him".
  • 2015
    Age 59
    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.
    More Details Hide Details Kingfisher Airlines, established in 2005, was a major business venture launched by Mallya. It eventually became insolvent and had to be closed down. 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. 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. As part of the Kingfisher collapse, Mallya is accused of being a "willful defaulter" under Indian law, including accusations of money laundering, misappropriation, etc.
  • 2012
    Age 56
    In 2012, Mallya ceded management control of United Spirits Limited to global spirits giant Diageo, although he retained a minority stake in the business.
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  • 2010
    Age 54
    In 2010, he was re-elected for a second term, this time with the backing of the Bharatiya Janata Party (BJP) and the JD(S).
    More Details Hide Details Vijay Mallya is noted for his successful bidding in auction of items that are considered of great historical value to India. In 2004, he placed the winning bid of £175,000 for the sword of Tipu Sultan at an auction in London, and brought it back to India. Subsequently, he bought 30 other items owned by Tipu Sultan from auction houses in the UK, including a cannon, other weapons, and personal items. In March 2009, Mallya successfully bid for the belongings of Mahatma Gandhi for US$1.8 million, in a New York auction that initially caused an uproar in India and its government tried and failed to prevent it from going under the hammer. Mallya has received several professional awards both in India and overseas:
  • 2005
    Age 49
    Although 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 Sri Sri Ravi Shankar and the Art of Living movement.
    More Details Hide Details Mallya became the Chairman of United Breweries Group in 1983 at the age of 28, following his father's death. 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. He consolidated the various companies under an umbrella group called the "UB Group", spun off non-core and loss-making businesses and focused on the core business of alcoholic beverages. 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 magazine, and Cine Blitz, a Bollywood magazine in 2001. United's Kingfisher beer has more than a 50% market share in India's beer market. The beer is available in 52 countries outside India and leads among Indian beers in the international market.
  • 2003
    Age 47
    Previously a member of the Akhila Bharata Janata Dal, Mallya joined the Subramanian Swamy led Janata Party in 2003 and served as its National Working President till 2010.
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  • 2002
    Age 46
    He was elected to the Rajya Sabha in 2002 as an independent member from his home state of Karnataka with the support of the Congress party and Janata Dal (Secular).
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  • 1993
    Age 37
    In June 1993, Mallya married his current wife Rekha, whom he had known since childhood, and together they have two daughters, Leanna and Tanya.
    More Details Hide Details Rekha was previously married twice, and also has a daughter and son, Leila and Kabir, from a previous marriage. Mallya adopted Rekha's daughter Leila. On the subject of raising his children, Mallya said "My children are very dear to me. I am responsible as a father to play an active role in determining their future." However, he also said "I wasn't a hands-on father. I hired good nannies for my children and left it to their expertise." In contrast with Vijay Mallya's flamboyant lifestyle, his wife Rekha has maintained a relatively private personal life and has said she just prefers to spend her time with her daughters.
  • 1987
    Age 31
    They have one son, Siddharth Mallya, who was born on 7 May 1987.
    More Details Hide Details They were divorced shortly afterwards, although Mallya has stated in interviews that he has a "great relationship" with his first wife.
  • 1986
    Age 30
    In 1986, he met and married Sameera Tyabjee, an air hostess of Air India.
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  • 1976
    Age 20
    Mallya was born the son of Vittal Mallya, a Goud Saraswat Brahmin from Bantwal, Karnataka and Lalitha Ramaiah. Vittal Mallya was the Chairman of United Breweries Group. Vijay Mallya was educated at La Martinière Calcutta, where he was appointed House Captain of Hastings house in his final year, and at St Xavier's College, Calcutta, where he graduated with a Bachelor of Commerce degree (with honours) in 1976.
    More Details Hide Details 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.
  • 1955
    Born on December 18, 1955.
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