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Vijay Mallya

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Vijay Mallya
Member of the Rajya Sabha[1]
In office
2002–2008, 2010 – present
ConstituencyKarnataka
Personal details
Born (1955-12-18) 18 December 1955 (age 68)
Bantwal, Karnataka , India
Political partyIndependent
Alma materSt. Xavier's College, Kolkata[2]
OccupationChairman of:
United Breweries Group,
Kingfisher Airlines
As of 4 May 2011
Source: Government of India

Vijay Mallya (born on 18 December 1955[1] in Bantwal, Karnataka, India) is an industrialist and a second-time member of India's parliament. He is the chairman of the UB Group – one of India's largest conglomerates,[citation needed] with diverse interests in brewing, distilling, aviation, pharmaceuticals, real estate, engineering, fertilizers, biotechnology and information technology.

He is the son of industrialist Vittal Mallya.[1] He took over as the chairman of the company at the age of 28 after his father's sudden demise in 1983.[4]

Early life

Mallya attended La Martiniere for Boys school in Kolkata (West Bengal), where he was appointed House Captain (Hastings house) in his final year. He went up to St. Xavier's College, Kolkata.[1], from which he graduated with a Bachelors of Commerce degree. While in college, Mallya was interning in his family businesses. After he graduated, he interned at the American part of Hoechst in the United States.[5][failed verification]

Businesses

UB group

Main article: United Breweries Group

At the time of his father's death, Mallya was unanimously elected Chairman of United Breweries. As part of his modernisation bid, he consolidated the various companies under one umbrella group called the "UB Group", spun off non-core and loss-making businesses and focused on the core business of beverage alcohol.[6] Kingfisher beer controls more than 50 per cent market share of India's beer market.[6][7] The beer is available in 52 countries outside India and leads the way among Indian beers in the international market.[6] United Spirits Ltd, the flagship of the UB Group, has achieved the historic milestone of selling 114 million cases,[6] becoming the largest spirits company in the world by volume.[8]

Kingfisher Airlines

Main article: Kingfisher Airlines

Kingfisher Airlines, established in 2003, has been unable to pay salaries to its employees for the past several months and is on the verge of going bankrupt.[9][10][11][12] Now the airlines has officially been asked to vacate premises and received eviction notices for defaulting on rent payments on a Mumbai property since November 2011.[13]

Mallya is the Chairman of public companies both in India as well as in the USA. He has been the Chairman of Aventis Pharma India (previously Hoechst) as well as the Chairman of Bayer Crop Science in India for over 20 years, in addition to being the Chairman of several other corporations.

Sports

Mallya personally and the UB Group as a whole have vast sporting interests internationally as well as in India.[citation needed] He is the first Indian ever to own a Formula One Team.[citation needed] He is the Team Principal and co-owner of Sahara Force India Formula 1 which is also India’s first-ever Formula One Team and represents India's first, truly global sports foray.[citation needed] Mallya has been an avid motor racing enthusiast since he was a teenager.[citation needed] He has taken part in several Track Racing Events in India in the 1970s and 80s[citation needed]. Winner of the Sholavaram Grand Prix 1980/81 and Calcutta Grand Prix in 1979.[citation needed] Has also participated in several Classic Rallies in Europe[citation needed]. He is a member of the World Motor sports Council of the FIA and chairman of the Federation of Motor Sports Council of India.[citation needed]

In 2008, the UB Group bid and acquired Royal Challengers Bangalore, an IPL team which has been in the finals and semi-finals of the tournament in the last four years. The company also owns the country’s two premium football teams Kingfisher East Bengal and McDowell Mohun Bagan.[citation needed]

Politics

Mallya was elected to the Rajya Sabha – Upper House of India's Federal parliament in both 2002 and 2010 as an independent candidate from his home state of Karnataka.[1][5][14]

Auction purchases

Mallya has bought some items at auctions that have substantial value in the history of India. In 2004, he bought the sword of Tipu Sultan at an auction in London, and brought it back to India.[15] In March 2009, Mallya bought five personal belongings of Mahatma Gandhi (his iconic eyeglasses, a pocket watch, leather sandals he had made by hand, and a plate and bowl from which he had eaten his last meal) for US$1.8 million in a New York auction that had caused an uproar in India; the government of India had tried and failed to prevent the sale.[16]

Awards

Mallya has received several professional awards both in India and overseas.[citation needed] He was conferred an honorary degree of Doctorate of Philosophy in Business Administration, by the Southern California University for Professional Studies of Santa Ana, California (a correspondence school since renamed to California Southern University, and not to be confused with the University of Southern California or the University of California, Irvine) in 1997.[17] He has also been nominated as a "Global Leader for Tomorrow" by the World Economic Forum.[citation needed] He has also received France's highest civilian award – the Legion of Honour.[citation needed]

References

  1. ^ a b c d e "Detailed Profile: Dr. Vijay Mallya". Government of India. Retrieved 11 May 2012.
  2. ^ St. Xavier's College. Sxccal.edu. Retrieved on 17 May 2012.
  3. ^ Forbes http://www.forbes.com/profile/Vijay-Mallya. {{cite news}}: Missing or empty |title= (help); Unknown parameter |deadurl= ignored (|url-status= suggested) (help) [dead link‍]
  4. ^ "Genesis Dr. Vijay Mallya Chairman". UB Group. Retrieved 11 May 2012.
  5. ^ a b Vijay Mallya Rajya Sabha MP. Mallyainparliament.in (18 December 1955). Retrieved on 17 May 2012.
  6. ^ a b c d "Accounting Policy". Retrieved 11 May 2012.
  7. ^ Whisky – Antiquity, Bagpiper, and Mc Dowell's No 1, Royal Challenges, Signature. Unitedspirits.in. Retrieved on 17 May 2012.
  8. ^ United Spirits Limited (USL) – Who We Are | About Us. Unitedspirits.in (31 March 2011). Retrieved on 17 May 2012.
  9. ^ Kingfisher Airlines engineers.... strike work – The Times of India. Timesofindia.indiatimes.com (21 April 2012). Retrieved on 17 May 2012.
  10. ^ Kingfisher Airlines Runs Into Payroll Snag. Forbes (18 April 2012). Retrieved on 17 May 2012.
  11. ^ Fontanella, James. (8 January 2012) Time running short for Kingfisher Airlines. FT.com. Retrieved on 17 May 2012.
  12. ^ Kingfisher Airlines countdown to bankruptcy | Emerging Markets. Emerging Money (20 March 2012). Retrieved on 17 May 2012.
  13. ^ Kingfisher fails to pay rent, asked to vacate Mumbai offices. India News – IBNLive. Ibnlive.in.com. Retrieved on 17 May 2012.
  14. ^ Rajya Sabha Polls 2010 | Karnataka Results | Vijay Mallya Wins | Independent. News.oneindia.in (17 June 2010). Retrieved on 17 May 2012.
  15. ^ Habib Beary Tipu's sword back in Indian hands. BBC (7 April 2004)
  16. ^ South Asia | India 'helped win Gandhi auction'. BBC News (6 March 2009). Retrieved on 17 May 2012.
  17. ^ Abhay Singh and Subramaniam Sharma, India Billionaire Mallya Isn't Showing Shareholders Everything, Bloomberg, 20 February 2008.

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