Fraud buildup or A Great Plan: All About "Vijay Mallya"

Fraud buildup or A Great Plan: All About "Vijay Mallya"

By: Rick Growel
Sep 26, 2017

Economy Fraud Politics Scam

Vijay Mallya (VM) extended his alcohol business by beginning an aircraft for his child Sidhdharth on his eighteenth birthday celebration, in spite of his counsels notice him not to do as such. Moreover, he utilized both United Breweries (UB) just as United Spirits Ltd (USL) to purchase the misfortune making Deccan Air and blended it with KingFisher Airlines (KFA)

To finance the aircraft, he sold United Engineering and other little organizations began by his dad, the first takeover lord; Vittal Mallya

VM's child Siddharth was/is a playboy, with no comprehension of business, so couldn't step up to oversee things

VM acquired cash from numerous banks to supposedly support KFA, however redirected the cash to purchase properties and groups over the world

At the point when the banks were after him, he turned into a Rajya Sabha part, supported by the congress. The banks quit pursuing him.

He vowed the Kingfisher brand and obtained further cash. When KFA was a colossal misfortune making organization, IDBI loaned it Rs. 900 crores under tension from the Congress Government

He with-held assistance duty of travelers, PF, Income Tax of Employees, yet didn't submit to the PF or IT specialists

Again in 2010, he turned into a Rajya Sabha part as a free competitor bolstered by JDS (Deve Gowda) and Congress for two reasons; a. to be protected from requests and b. to get a political identification

At that point, when Modi came and began pursuing defaulters for tidying up the banks (Rahul Gandhi's words "Reasonable and Lovely"), he got frightened and ran off from India, utilizing the conciliatory visa

Presently he will not come back to India


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