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Vijay Mallya

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Vijay Mallya
JENCY]
2002–2008, 2010 – present
ConstituencyKarnataka
Personal details
Born (1955-12-18) 18 December 1955 (age 68)
Kolkata (formerly Calcutta), West Bengal, India
Political partyIndependent
OccupationBusinessman, Chairman of:
  • The UB Group, one of India's largest conglomerates with diverse interests in brewing, distilling, aviation, real estate, engineering, fertilizers, biotechnology and informaton technology,
  • Sanofi India (previously Hoechst and Aventis)
  • Bayer CropScience in India
Signature
Source: [1]

Vijay Mallya (born 18 December 1955)[1][2][3] is an Indian businessman and politician. The son of businessman Vittal Mallya, he is the chairman of the UB Group, an Indian conglomerate with interests in beverage alcohol, aviation infrastructure, real estate and fertilizer among others. Mallya is also a member of the Rajya Sabha, the upper house of the Parliament of India. His net worth is approximately US$750 million (as of October 2013) and his primary source of wealth is the liquor business.[4]

He 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 A.C. and East Bengal F.C.[citation needed] He is also a member of the World Motor Sport Council representing India in the FIA.[5]

Mallya is the Chairman of public companies both in India and the US. He has been the Chairman of Sanofi India (previously Hoechst AG and Aventis) as well as the Chairman of Bayer CropScience in India for over 20 years, in addition to being the Chairman of several other companies.[6]

Personal life

Vijay Mallya is the son of Vittal Mallya, a prominent businessman, and his wife Lalitha Ramaiah.[1][3][7] He was educated at La Martiniere Calcutta and at St. Xavier's College, Calcutta,[1][8] where he graduated with a Bachelor of Commerce degree (with honours) in 1970 .[1] While in college, Mallya interned in his family businesses. After graduating, he interned at the American part of Hoechst AG in the United States.[citation needed]

In 1986, he met an air hostess for Air India named Sameera Tyabjee (sometimes spelled 'Samira'). They were married a few months before the birth of their son, Sidhartha Mallya on 7 May 1987.[2][9] They were divorced shortly afterwards, and Mallya has stated in interviews that he has a cordial relationship with his first wife. Mallya then married Rekha, a double divorcee whom he had known since childhood, as they had grown up as neighbors. Rekha was first married to Pratap Chettiappa, a coffee planter based in Kodagu, and had one daughter by him. She divorced him to marry Shahid Mahmood, a Muslim businessman, and had two children by him - a son named Kabir and a daughter named Laila. This marriage also ended in divorce, and Mallya became Rekha's next husband. Mallya and Rekha have two daughters together, named Leanna and Tanya.[1] Mallya regards all of Rekha's children from both of her previous marriages as part of his family. He was very shaken when Rekha's eldest child, whose married name was Stella Chirayath, died in a car crash in 2003.[2][3]

Business

Mallya became the Chairman of United Breweries Group in 1983 at the age of 28, following his father's death.[6] 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 beverage alcohol.[citation needed] Over the years, he has diversified and acquired Berger Paints, Best and Crompton in 1988; Malabar Chemicals and Fertilizers in 1990; The Asian Age newspaper and the publisher of film magazine, Cine Blitz, a Bollywood magazine in 2001.[10]

United's Kingfisher beer has more than a 50 per cent market share in India's beer market.[6] The beer is available in 52 countries outside India and leads among Indian beers in the international market.[6]

United Spirits Ltd., the flagship of the UB Group, achieved the historic milestone of selling 100 million cases, becoming the second-largest spirits company in the world by volume under Vijay Mallya's chairmanship.[6] In 2012, Mallya ceded management control of United Spirits Limited to global spirits giant Diageo, although he retained a minority stake in the business.[4]

Vijay Mallya is also the chairman of South African company, United National Breweries, a company that specializes in making traditional sorghum beer.

Willful Defaulter - Vijay Mallya has been declared "Willful Defaulter" along with his 3 other directors of King Fisher Airlines (KFA) by United Bank of India on 29th of Aug 2014.

The other business areas of the group encompass life sciences, engineering, agriculture, chemicals, information technology and aviation.

Kingfisher Airlines, established in 2005, was a major business venture launched by Mallya.[11] It eventually became insolvent and had to be closed down.[12][13] As of October 2013, it had not paid salaries to its employees for 15 months, had lost its license to operate as an airline, and owed more than $1 billion in bank loans.[4]

Sports

Mallya personally, and the UB Group as a whole, have extensive sporting interests internationally as well as in India. Mallya has been a serious motorsport enthusiast since he was a teenager. Has taken part in several Track Racing Events in India in the 1970s and 80s. Winner of the Sholavaram Grand Prix 1980/81 and Calcutta Grand Prix in 1979. Has also participated in several Classic Rallies in Europe.

Formula One

In 2007, Mallya and the Mol family from The Netherlands bought the Spyker F1 team. The team changed its name to Force India F1 from the 2008 Season. At present, the team is known as Sahara Force India and is co-owned by the Sahara Group (whose chairman Subrot Roy Sahara is in jail for more than six months) and Mallya is the Team Principal. The Silverstone (UK)-based team is now a finely tuned, state-of-the-art team that has proved itself as a fast improving F1 team that has gone on to challenge some of the automotive industry's greatest names.

Corporate interests and sponsorship in sports

UB Group sponsors many sports events and teams such as:

  • Signature golf tournament (golf tournament)
  • MohunBagan A.C. (I league team)
  • Kingfisher Derby team (horse racing)
  • East Bengal Club (I league team)
  • Royal Challengers Bangalore (IPL team)
  • Force India (Formula One car racing team)
  • McDowell Indian (horse racing)

Political career

Mallya is in his second term as an Independent MP from his home State of Karnataka. Among the positions he has held as MP include:[citation needed]

  • Unknown month, 2002 – Feb. 2004 and Oct. 2004 – April 2008, Member, Consultative Committee for the Ministry of Defence
  • Sept. 2002 – Feb. 2003, Member, Committee on Science and Technology, Environment and Forests
  • Feb. 2003 – Feb. 2004, Member, Committee on Defence
  • Aug. 2004 – April 2008, Member, Committee on Industry
  • Sept. 2004 – April 2008, Convenor, Sub-Committee-III of the Committee on Industry for the Ministry of Heavy Industries and Public Enterprises
  • Unknown time span, Member, Sub-Committee-IV of the Committee on Industry for Action Taken Report
  • Aug. 2007 – April 2008, Member, Sub-Committee-II for Small Scale Industries of the Committee on Industry
  • Aug. 2010 onwards, Member, Committee on Industry
  • Aug. 2010 onwards, Member, Consultative Committee for the Ministry of Civil Aviation
  • Aug. 2012 onwards, Member, Committee on Chemicals and Fertilizers.

Auction purchases

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.[1] Subsequently, he bought 30 other items owned by Tipu Sultan from auction houses in the UK, including a cannon, other weapons, and personal items.[1] In March 2009, Mallya successfully bid for belongings of Mahatma Gandhi[1] 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.

Awards

Mallya has received several professional awards both in India and overseas:

References

  1. ^ a b c d e f g h i Vijay Mallya Rajya Sabha MP. Mallyainparliament.in (18 December 1955). Retrieved on 4 June 2014.
  2. ^ a b c "Unseen Pictures of Vijay Mallya and Wives", Daily Bhaskar (accessed May 2014).
  3. ^ a b c "Vijay Mallya",[dead link] India.gov.in: National Portal of India (accessed May 2014)
  4. ^ a b c "India's Richest #84 Vijay Mallya", Forbes (accessed May 2014).
  5. ^ World Motor Sport Council
  6. ^ a b c d e f g h "Accounting Policy, Bayer CropScience Ltd". Live Mint. Retrieved 2 June 2014. (section 4.1)
  7. ^ Bhandari, B., "Vijay Mallya: Mr High Spirits", Rediff: India Abroad, 8 April 2005.
  8. ^ Mathew, Fr. P.C., S.J., "Aims and Objectives", St. Xavier's College, Kolkata (accessed May 2014).
  9. ^ Sid Mallya. "Sidhartha Mallya". bornrich.com. Retrieved 14 June 2014.
  10. ^ "Diageo-USL deal puts to test Mallya's credentials". Mint (newspaper). 9 November 2012. Retrieved 30 July 2014.
  11. ^ "Is Vijay Mallya India's worst businessman?", FirstBiz (First Post Business), 27 September 2012.
  12. ^ "Non-bailable arrest warrant issued against Vijay Mallya", The Hindu, 12 October 2012.
  13. ^ "Cheques bounce case: Warrant against Kingfisher, Vijay Mallya on GMR's complaint", CNN-IBN, 12 October 2012.
  14. ^ a b c "Genesis Profile Dr. Vijay Mallya Chairman". UB Group. Retrieved 3 June 2014. (p. 13)
  15. ^ The Asian Awards Winners List. 3 November 2010. PRNewswire. PR Newswire Europe Limited (a United Business Media company). Retrieved 2014-06-03.
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