Vijay Mallya...rangeela faraarii

Society Pakistan & World Affairs
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Hi,

India’s business tycoon and now a fugitive, ran away to UK with Rs. 900 thousand CRORES loaned by 17 banks. he’s known to be a ‘rangeela’.

he owned big businesses in India like Kingfisher Beer and Kingfisher Airlines. his airline business came to an end in 2012…

…he owes me $60 for a flight that was canceled and i never got a refund.

his ex-wife, Sameera Tyabji, is the daughter of Badruddin Tyabji, ex Vice Chancellor of AligaRh Muslim University.

have a peek into what kinda person he is:

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Re: Vijay Mallya...rangeela faraarii

Last time when I went to ATM to withdraw cash, cash didn't come out and this was written on receipt "Apke account me beep kuchh ni hai..saare paise Vijay Mallya leke bhaag gaya"

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Re: Vijay Mallya...rangeela faraarii

What do you think, what went wrong?

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Re: Vijay Mallya...rangeela faraarii

^^
Very good question.. I am very interested in this. A flamboyant businessman who was good at turning around business which had failed. I am from a city down south in Coastal Karnataka. His parents are from a town nearby. He bought a company which was doing very badly and in a few years the company was making profit.
He had business interests all over the world and was very successful. I have heard many theories on why he failed...
1) Got into a business for which he was not suited. He did not have any prior experience and the only experience he might had would be in maintaining his own private jets.
2) Not exiting at the right time. At some point he should have decided enough is enough and cut the losses
3) Government policies -- All of the airline companies were making a loss during that time
4) Arrogance -- Feeling that he is above failure

I am not sure on why exactly he failed. It is a good topic for research, but the way he treated his employees shows that he is man without any scruples. I personally do not wish any harm on him, but hope Karma is a bit*h in his case :)

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Re: Vijay Mallya...rangeela faraarii

Every businessman takes risk. Taking risk is good for growth of business but risk assessment is equally important. Recently I read a news where GSPC suffered some 17000 crore INR in an oil exploration project. The main mistake they accepted is- miscalculation. Reliance also came into this field, they also miscalculated the reserve and risk assement but soon they realised that they need technical expertise and experts so they joined hands with British Petroleum. While GSPC didn't even sought ONGC's help (though ONGC fears deep waters projects due to lack of expertise). So risk assessment and self assessment is very important, second when you come to know that things are not going well you have to make changes in decisions like Reliance did. Now come to banks, I see a serious fault with banks, they gave loan after loan, up to what extent they tolerate a defaulter. Asset restructuring companies are there, they should have taken actions long ago. But prevention is better than cure. I wonder how they study projects.

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Re: Vijay Mallya...rangeela faraarii


lack of governmental oversight as well as bank's complacency.

he was allowed to accrue debts in spite of his losses.

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Re: Vijay Mallya...rangeela faraarii

Yes you are right. Govt also comes under scanner. We know Govt wanted civil aviation industry to grow and supported it but lack of required attention, monitoring and then hiding failure resulted desaster, I think.

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Re: Vijay Mallya...rangeela faraarii

Big companies or the companies which take big projects take big loans. Completion period of these projects usually happens to be in years. Due to cashflow problems and market fluctuations they come under defaulter list. Many companies took big loans, took high risk, got success and became leaders in their respective fields. But not every company made fortune for so long, we see Mallya's venturing into aviation proved fatal (it seems that) So how should govt tackle this type of problem at the same time promote industry and encourage entrepreneurship?

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Re: Vijay Mallya...rangeela faraarii

His debt to equity ratio soared instead of his airlines.

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Re: Vijay Mallya...rangeela faraarii

Southie ji welcome. Jara vistaar se samjhayein.

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Re: Vijay Mallya...rangeela faraarii

Anujan, Parajays airlines are broke. The amount he owns is balloning. And since he has been racking up ladies and losses, his equity is negligible.

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Re: Vijay Mallya...rangeela faraarii


Chacha Ghalib ne farmaya hai..

Karz ki peete the may lekin samajhte the ki haan,
Rang laawegi hamaari faaka-masti ik din.

He perhaps never thought that mindless spending on lavish lifestyle could doom him (and made Parajay from Vijay). Didn't he listen to his financial advisors? Suppose his business was going well (despite minor setbacks) and he continue all that eye-catching luxurious activities then would he see the same time he is seeing today?

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Re: Vijay Mallya...rangeela faraarii

Chacha Ghalib speaks in riddles.

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Re: Vijay Mallya...rangeela faraarii

Paheli ya ulatbaansi?

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Re: Vijay Mallya...rangeela faraarii

baNsuri se yaad aayaa k iskaa sambandh prem se kia hai...to, ek gaane kii kuchh panktiyaaN aapkii sevaa meN pratut karte haiN:
**
yadii aap hameN aadesh kareN to
prem kaa ham 'Sri GaNResh' kareN** :)

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Re: Vijay Mallya...rangeela faraarii

So does Anujan

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Re: Vijay Mallya...rangeela faraarii

Ab aap bhi Anujan ki tarah riddles mein bolne lage. Ye Ganresh ka matlab to jara samjhain humein

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Re: Vijay Mallya...rangeela faraarii


hahaha...kahaavat hai na k:

Kharbooze ko dekh kar Kharbooza rang pakaRtaa hai! :)

Sri GaNResh = kaamiyaab = successful :)

arthaat, jis ne Sri GaNResh ko maanaa, uskaa beeRaa paar! :)

[the word 'beRaa' is erroneously used by the masses instead of beeRaa which means 'flotilla' :)]

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Re: Vijay Mallya...rangeela faraarii

Kahavat suni hai is phorum mein. Kharbooja which animal. Squirrel?

Ganesh hai spelling. GaNResh nahi. Waise, N capital nahiN. Kyoki N silent nahiN. Is liye, Sri Ganesh.

Waise, aap Anujan ki posts samajhte haiN?

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Re: Vijay Mallya…rangeela faraarii

thanx for the correction…par an audio will help! :slight_smile:

Anujan kii posts ke baare meN yehii kahuuNgaa k:

de aur dil unko jo na de mujhko zabaaN aur! :smiley:

have you seen the new Indian Rs. 1000 coin as shown in my avataar? :hmmm: