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What was the scam done by Vijay Mallya?

by Madhvi Bansal
Vijay Mallya

Once called the “King of Good Times” due to his lavish lifestyle, the controversial Indian tycoon Vijay Mallya has involved in financial scandals since 2012. 

Accused of escaping from India in 2016 in the wake of defaulting on debts of more than $1bn (£785m), a London court has now headed that he should be removed from the UK to India where he faces extortion charges – where he denies the charges 

The removal decision will be passing to the Home Secretary for approval. If he is sent home from the UK and found liable, it will be a spectacular go wrong for a man whose lifestyle brands have accomplished worldwide acknowledgment and who has even spent time as a government official. 

History of Vijay Mallya

Mallya progressed toward becoming executive of combination United Breweries Group in 1983 matured just 28, acquiring the activity when his dad passed on.He is known for creating Kingfisher, India’s one of the most prominent lagers, yet has also fanned out into chemicals, paints, & publishing.

Nonetheless, the businessman’s later ventures have pursued controversy. 

  • Mallya resigns as Force India chief. 
  • Tycoon Vijay Mallya blameworthy of hatred 
  • India tycoon has passport disavowed. 

Kingfisher Airlines Scam by Vijay Mallya 

Kingfisher Airlines, propelled in 2005, developed to turn into India’s second largest domestic bearer, yet piled on unpaid liabilities of more than $1bn (£755m) – quite a bit of which remains outstanding. It was slowed down in 2012 during reports that pilots and lodge team had worked unpaid for 15 months. 

Mr. Mallya was also forced to resign as director of United Spirits, India’s biggest distiller, after its new proprietor Diageo accused him of lousy financial behavior. Diageo is currently suing the tycoon to recuperate payments worth $181m. Despite the controversies, Mr. Mallya has kept up his trademark flashiness and revealed his passions. 

He established a Formula 1 group, Force India (even though it went into administration in July when his assets were solidifying), and purchased Indian Premier League cricket franchise Royal Challengers Bangalore for more than £70m.

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