Vijay Mallya Wiki – The Man Behind Kingfisher’s (Airline) Demise
Vijaya Mallya Wiki – Vijay Vittal Mallya is one of the most controversial business tycoons in India and a former Politician, “The King of Good Times.” He is the present chairman of United Breweries Group (popularly known as UB group).
He is best known as the ex-chairman of United Spirits Ltd. (India’s largest spirits company). In 2002, he was a Member of the Rajya Sabha. He has always been a prime focus of the media due to his flamboyant lifestyle, high-profile parties, business ventures, and beautiful girls.
Mallya used to be the chairman of United Spirits and was also a member of the Rajya Sabha. He is still the chairman of United Breweries Group as of right now. He has been the chairman of several other companies, including Sanofi India and Bayer CropScience.
Later, he became a prime focus in the media when he was accused as a “wilful defaulter” under Indian Law. Let’s find some interesting facts about this “Ex-King of Good Times.”
Vijay Mallya Biography/Wiki
Mallya was born on December 18, 1955, in Kolkata, West Bengal, India. He will be 66 years old in 2021. Mallya went to school at La Martiniere Calcutta in Kolkata, West Bengal. In 1976, he got his Bachelor of Commerce degree from St. Xavier’s College in Kolkata, West Bengal.
Vijay Mallya Family, Wives & Caste
Vijay was born into a Konkani Brahmin Hindu family in Karnataka. His father, Vittal Mallya, was a well-known Indian businessman. He was the chairman and the first Indian director of United Breweries Group (UB Group).
Vittal Mallya got married three times in his life. His first wife, Lalitha Mallya, gave birth to Vijay Mallya. Sameera Tyabjee, who used to work for Air India as a flight attendant, is the woman Vijay Mallya married in 1986.
They have a son together named Siddharth Mallya. But they split up less than a year after getting married. Later, in 1993, Mallya married Rekha, his childhood sweetheart. Rekha was already divorced and had two kids from her first marriage: Leila and Kabir.
Mallya also took in Leila, Rekha’s daughter. Leanna and Tanya are Vijay Mallya and Rekha’s daughters. Vijay Mallya has seen Pinky Lalwani, a former flight attendant for Kingfisher Airlines.
Vijay Mallya Career
Vijay Mallya did an internship at his family’s business and then at Hoechst AG in the United States while in college. Mallya’s father died of a heart attack when he was 28.
In 1983, when his father died, he took over as chairman of the United Breweries Group. As chairman of the United Breweries Group, he focused on the alcohol business, which was much more profitable than the core businesses.
The group grew into a multinational conglomerate with about 60 companies, which he brought together under UB Group. The UB Group’s main company, the United Group, grew to become India’s biggest spirit company.
Mallya put out “Kingfisher beer,” which has a market share of about 50% in India. It is the most popular beer in India, and you can also buy it in 52 other countries.
Vijay Mallya in his Kingfisher airlines
In 2005, when the Indian domestic airline market was the worst it had ever been, Mallya started Kingfisher Airlines with facilities that were the best in the world. The airline was a big hit right away.
Later, Kingfisher airlines started flying to other countries, which was a big mistake that hurt the company. The company started losing a lot of money and racked up debt. The airline went out of business in October 2013 and didn’t even pay its employees’ salaries.
Vijay Mallya Political career
Mallya joined the Akhil Bharatiya Janata Dal in the year 2000. His involvement with Subramanian Swami’s Janta Party began in 2003.
Mallya ran as an independent candidate in Karnataka in 2002, receiving support from the Congress Party and the Janta Dal. The election for the Rajya Sabha ended with him as the victor.
Between 2003 and 2010, he served as the National Working President of Janta Dal, but in 2010, he switched sides. The ‘Bharatiya Janata Party (BJP) campaigned for him, and he won reelection to Rajya Sabha. After being accused of corruption, Mallya eventually resigned from his position as a member of the Rajya Sabha.
Vijay Mallya defaulter
He owes about Rs 9,000 crore to 17 Indian banks and is accused of fraud and laundering money in the country.
Vijay Mallya’s name is most closely linked to Kingfisher Airlines, which is no longer in business. The airline company he started in 2005 turned out to be his downfall. Its business model failed in 2008 when a worldwide recession and rising fuel prices made it impossible for it to stay in business.
Mallya ran away to the UK in 2016 to avoid pressure from the airline’s lenders. Mallya has already said that he will pay back his debts and has been doing so since 2016.
Mallya took over his father’s company, UB Spirits, known for making the Kingfisher beer brand, and turned it into India’s largest spirits maker. At the age of 28, he became the head of UB Group.
But most of the group’s other businesses did not do as well, with Kingfisher Airlines doing the worst. Kingfisher Airlines began in 2005, but it had to stop flying in 2012 because it had so much debt that it couldn’t pay its bills. The airline is also being considered for money theft and other financial problems.
Mallya left the country on March 2, 2016, the same day a group of public-sector banks filed a case against him with the Debt Recovery Tribunal. Under the Fugitive Economic Offenders Act, he was named a “fugitive economic offender” in January 2019.
Mallay has denied all accusations against him and made a public offer to pay back the full amount of principal he owes to the lenders.
In 2016, before Mallya left the country, he wrote an open letter to defend himself. “All of the investigations that have been done haven’t found proof that Kingfisher Airlines or I stole money,” Mallya said.
“Even though I pledged blue-chip securities and put down a lot of money in court, I’ve become the face of all bank NPAs thanks to a successful disinformation campaign.”
Vijay Mallya Awards and Recognitions
Vijay Mallya received many awards because of his successful businesses.
- He was awarded an honorary degree in business administration by the University of Southern California in 1997.
- In addition, he was awarded the “Officier de la d’Honneur” award from France,
- ‘Global Leader of Tomorrow by the World Economic Forum,
- ‘Entrepreneur of the Year at The Asian Awards 2010 and ‘Lifetime Achievement Award for contribution to motorsports from the Federation of Motorsport Sports Clubs of India.
FAQ about Vijay Mallya
Where is Vijay Mallya currently?
Currently, Vijay Mallya is in the UK. where he is fighting his extradition to India.
What is the net worth of Vijay Mallya in 2022?
He owned the Royal Challengers Bangalore cricket team before someone else took over. Vijay Mallya’s net worth is thought to be about $1.2 billion as of December 2022.
Who is the owner of Kingfisher right now?
Heineken NV, which makes the second most beer in the world, has taken over United Breweries Limited (UBL), which makes the most beer in the country. It strengthens Heineken’s position in a huge market where beer consumption could grow from a low base.