Nikhil, I was working with McDowell from 1982 to 1989 was lucky enough to have met Mr Vittal Mallya & VJM on serval times for Business meets, UB group was very small then especially McDowell ! I strongly believe he had very wrong second line advisors & off course his bad days had began when got friendly with Prafulla Patel & Sharad Pawar !
@@saber3112 dude why would employee of bankrupt company be paid. and don't tell me all those same employees didn't enjoyed working at kingfisher when they were employed . its this patethic that we don't support our businessman enough. Vijay according to me took a bet of developing a luxurious airline but the product market fit wants ready and I wouldn't want him to be punished for political browny points
@@krishna_o15 vijay mallya was responsible for making kingfisher bankrupt by irresponsibly running it and failing it to make it a viable business . You seem to be a chamcha of vijay mallya..
Completely agree with the views of Madam Kiran Mazumdar Shaw. Vijay Mallya must be called back and supported rather than penalized for a business failure. He has built many world-class businesses, generating huge taxes for the country and most importantly 'Employment'. Kingfisher Airlines must be revived by partnering with foreign airlines.
@@jssidhoo He has paid back all the money he owes the banks. He will pay his employees too if he is allowed to continue his business. His problem is too much ego and pride.
Ma'am, kindly understand throwing parties to other millionaires friends is not what you call "generous", it's called networking to grow your business. Throwing money as investment to nurture rich friendships gives you back ten-fold. I think you might need to touch some grass and connect with truly generous humble people
Creating jobs for thousand and helping build their livelihood is what then according to you? Common, stop being a communist. People make money and they enjoy it. Big deal. Some people go to local bars and give friends treat. If you have little more money, you tale them to a local pub. You have even more money, you throw lavish parties. Don't be a hypocrite.
I’ve heard that , besides not paying employees, kingfisher, deducted tax at source from the employees, but didn’t give it to the IT. In effect, the the employees had to pay that tax portion (again) to the authorities.
He was generous and lived life King Size. Would have been better of he had done all that by paying from his own pocket rather than using banks (i. e. Common man's) money.
@@itn0687yes but imagine someone living a frugal lifestyle and then failing. He will probably not be accused as much. Hence all our politicians wear kurtas and come across as simple people.
When the common people realise their life is hell that they have no future and that they have nothing to lose, the politicians and bureaucratics will lose everything
True that, Vijay should be brought back and should be given a chance with limitations to do some business for growth of india . Everyone needs a second chance. He is more worth here than being a fugitive in UK
Wonder if a Honest Middle Class person would be able to getaway by defaulting on their Education loan on a Foreign University and be given so much time to pay it back !! But that said - He was indeed the "KING OF GOOD TIMES"....And to that I hope he can resuscitate his Empire !
Most misunderstood point here is Vijay Mallya was promoting his liquor brand through the airlines business which would eventually payoff if the government hadn’t stopped his liquidity funding for the airlines business. So there was no question of self denial , if virgin airlines could pull it off by selling record albums then for Vijay Mallya it should have been a cake walk. His vision was super clear and it was all set for success, just that time and Govt was not on your side . Also he bought over Deccan airlines as that was the only way to get international license for the airline business . He is a man with a great vision which is not properly understood by the masses & when such visions fail to take off inspite of giving your best, you end up being a recluse in UK.
Once called the "King of Good Times" due to his extravagant lifestyle, Mallya and his companies have been embroiled in financial scandals, and controversies since 2012.[52][11] Mallya left India on 2 March 2016 after saying he wanted to move to Britain to be closer to his children.[52] A group of 17 Indian banks are trying to collect approximately ₹90 billion (US$1.1 billion) in loans which Mallya has allegedly routed to gain 100% or a partial stake in about 40 companies across the world. Several agencies including the Income Tax Department and the Central Bureau of Investigation are investigating Mallya for charges including financial fraud and money laundering,[54][55][52][56] and the Attorney General said that Mallya's assets abroad are "far in excess to loans taken by him".[52] The 17 banks added a joint petition at the Supreme Court of India in March 2016 to try to prevent Mallya from leaving the country, but the Indian government indicated that he had already left. The Enforcement Directorate of India also filed a money laundering case against him in March 2016 for allegedly sending abroad some ₹9 billion (US$110 million) that had been loaned to his airline.[52] On 24 April 2016, the Ministry of External Affairs (India) revoked Mallya's passport,[57][58] and he resigned from the Rajya Sabha on 2 May 2016, the day before their Ethics Committee was prepared to recommend his expulsion.[1] Currently the Enforcement Directorate is seeking Interpol to raise an international arrest warrant against Mallya.[59][60] Also, the High Court of Judicature at Hyderabad issued a non-bailable warrant against Mallya on 13 March 2016 for his failure to appear in the court regarding an allegation of cheating the GMR Hyderabad International Airport Ltd by issuing them a dishonoured cheque for ₹5 million (US$63,000).[61] On 13 June 2016, the Prevention of Money Laundering Act (PMLA) court declared Mallya a "proclaimed offender" on a request by the Enforcement Directorate (ED) in connection with its money laundering probe against him in an alleged ₹90 billion (US$1.1 billion) loan default case.[62] Mallya co-owned the Formula One team Force India from 2007 to 2018. In the middle of the 2018 Formula One season, Sahara Force India went into administration due to financial trouble.[63] In August 2018 the team's assets were purchased by Racing Point F1 Team, and continued to race under the Force India name for the remainder of the 2018 season.[64][
Extraordinary Go on with more failure stories like this as well Then only learners of business will be able to understand the two sides of the coin Love you for adding the value in my life
I spent 10 minutes of my life trying to find a billionaire who owns his/her own podcast...found None... Nikhil is the ONLY... in the entire world !! Thank you nikhil for doing this for us :)
Even today if Mr Mallya comes back and sets up a new beer brand , there will be lakhs of people like me who would support him …he could definitely build another brand
Agreeing with Kiram Madam: He should come back to India and start over. He's a good person who has been affected by the unfair Indian media & politic ---- we are both East Bengal Supporter ...
Anil Ambani is a total fraud. On the other hand VM was ready to pay the principal amount. When Modi and cronies fled with much more than VM owed to banks. People were harsh on him.
He did a willful default. He wasn't forced out of the country. He defrauded the country and ran away like a coward. SBI & other lenders must be held accountable who idiotically gave him the loan.
It seems like there is a UA-cam bot that is trying to suppress any comment that says negative about him. You might find some random replies to prove that he was right.
It's was never about the airline business. He just wanted to lead an uber lavish lifestyle with F1, IPL and parties at the cost of airlines. Had he been generous, he would have paid their salaries...
Vijay Mallya is one of the few visionary people in modern india, it is all political interference which cornered him to this level, he is not like others who runs away with public funds.
She is such a gem of a person..I am someone who worked for Biocon in Dubai. She cares about every individual in her organisation.. God bless you more mam
It was a nice conversation. It becomes better when someone from the fraternity asks much more relevant questions that a relevant viewer like me can relate and learn. Thanks
But what about moral responsibility? Kingfisher airline employees committed suicide due to no salary for few months while Vijay was throwing parties and enjoying his life? Businesses may grow or fall, but the owner needs to be accountable for their staff.
@@quarksense re-read the comment again. Vijay was throwing PARTIES rather than paying employees their salary. If any businessman does similar things, he will also be questioned about morality.
As the topic is "Where V.M went wrong " there could be several reasons such as incompetence, negligence, selfishness, lousy decision making, poor management skills, indecent lifestyle habits, no dedication, no firm commitment, poor assessment of benefit and risk management, and many more.
India doesn't deserve people like Vijay Mallya. With the word cost consciousness all Indians are just being beggars. Today baring vistara you dont have a full service airline. Kingfisher I have flown many a times and I have always told It was well ahead of its time.
“Generous “ is used in quite selective term I think.. when a chairperson is not playing lots of dues and salaries and loans etc while he is celebrating his birthday in most lavish style is very much contradictory. He has all rights to spend money whatever ways he like.. but when u own lots from people and at that time if u choose to prioritise yourself only for just fun and in denial for mounting demands which need his money , attention and energy that’s make big difference.. good and bad time are part of life/ business.. during bad time , what and how u do shows u r true character.. no comparison but Dhirubhai had down cycle too. Rather maintaining lifestyle , he choose to maintain TRUST and worked doubled hard .. people trusted Dhirubhai by giving him their hard earned savings and Dhirubhai CHOOSE to not to break that TRUST..other classic example is TATA motors which were not successful in starting years ..think about respected Ratan Tata , what he could have do if he was in place for Malya …that’s what makes difference…
Hey Nikhil, Your show is going amazing! The content & subjects you are choosing for discussion are vivid and to the point! Well, growing up and getting inspiration from a flamboyant entrepreneur (VM) I believe this episode decoded an entrepreneur in a neutral way, rather than focusing on what wrongs he did! Cheers!
Take my advice friend. If you wannna be a serious entrepreneur, nikhil is hardly the one to get inspired. India has some many rags to riches stories. Pick anyone but the kamaths. Don't forget he CHEATED on Vishy Anand in a chess match - he revealed his subconscious approach to life and business in that match
Indian politicians & media behaved like a pack of wild dogs while dealing with Vijay. We didn't even deserve the class of airlines which he had the guts & vision to introduce. Even those politicians who he may have paid off to avoid the slander & persecution, quite possibly backstabbed him
I am MSME businessman. I always felt business man should get second chance. He failure largely changing slowing economy mood that point of time. In western world govt give a deal to revive business. In India politicians play politics on business. That’s wrong.
Hi Nikhil - There was a very point mentioned around cutting your losses at the "RIGHT TIME". I think this is a very interesting and important topic which any/all people including young entrepreneurs need to be educated/understand. Wondering if you can have some detailed discussion on this. Kind Regards
The contribution of his company to the excise duty tax was immense . Nobody sees the balance sheets of his company. Definitely he did something wrong to fail but not allowing to enter his country is too sad.
That is not charity. He just paid his dues till his money ran out, He lived a high-flying flamboyant lifestyle on borrowed money that he never thought he would be called upon to pay. His lifestyle should be a red flag for those who splash on borrowed money.
Anil Ambani is a total fraud. On the other hand VM was ready to pay the principal amount. When Modi and cronies fled with much more than VM owed to banks. People were harsh on him.
Airlines industry is not like any other industries, here you have to spend several crores of rupees, but the returns are very less!!! Aviation turbine fuel costs are high, and the ticket prices are fixed by the government for different routes, so you get less money , but you spend so much money!!! That's why Vijay Mallya was almost bankrupt and fled to Britain to avoid arrest here in India!!!😢😢😢😢😢😢😢😢.
He failed to pay PF and salaries of his employees. He took 40 million from Diageo and fled and distributed among his family. He could have paid the salaries and cleared dues. We are paying high interest rates on loans as people like have sucked out liquidity from the system
Yes, many businesses fail irreversibly because of procrastinating the downsizing a business to cut losses. Thia can happen to small petty shops to big airlines like KingFisher. He should not have moved out of country. Many first generation millionaires grew up, cutting down and downsizing their businesses. Enfield is one such story we saw in the recent decades and there are many revival stories.
Sad to see so many people who don't understand business and randomly comment about a person who did so many better things apart from this blunder. I find it funny that people don't question the bank when they provided loan for a loss making business. Why was the bank not capable to do proper due diligence of his airlines businesses
Stinks of elitism. Madam's dear old friend drove many of his employees to suicide when he deserted them. Dear old friend doesn't deserve a second chance. He deserves facing justice in India for the sake of those destroyed families.
Yes, Vijay Mallya was India's answer to Richard Branson. But his businesses failed and he continued to party hard while his employees weren't paid salaries for months. So before we feel sorry for the poor yacht owner, seeking 'refuge' in the UK, maybe spare a thought for the people whose lives he damaged irreparably.
It would have been the best airline in the world but running an airlines business is not easy and it is a capital intensive market kingfisher airlines could never make profits and expenditure was more than the revenue
"not being in denial, recognize failure when seeing warning signs, procrastinate the decision to pull the plug...cutting losses" - some important points.
This anti India Gorgon won't state the simple fact that main reason was that the plum routes were given to Congress owned Indigo, hence all other airlines were collateral damage.
Its simple Vijay Mallaya tried to make Emirates here but the product marekt fit and time was not right. Now you see people paying big bucks for vistara and India is seeing higer per capita income. Its just was not his time
Sharad Pawar looks like black spot on life ...even god has given him punishment still he is not understanding ..may be during last breath he will understand enough of politics ....
In my view same goes with Biocon, Viatris acquisition maybe a very big price to pay, where the business of bio similars is just beginning to take off. Vijay Mallya acquisition looks like a bad call in hindsight. 0:36
Nikhil...doing great and best wishes hats off....but this lady, Kiran, is far too mature and the way she spoke out or analyzed VM, was truth to the best centricity! I have a zerodha acc, btw and love it as well 🥰🥰🥰
Vijay Malya’s case is a witch hunt. Objectively , there are worse titans of debt who are strutting around in India. Vijay’s involving in politics is a no no as a businessman. That came with an unaffordable price. Whilst his actual default is much less than whats projected ( with the penal interest & the interest on interest , etc), Vijay’s singularly moral fault was not clearing the Dues of his employees which is unpardonable ( & something his Father would hv never done). ⚔️⚓️🇮🇳
Vijay Mallya is indeed an intriguing figure who has garnered much attention both for his business acumen and his controversies. He is remembered for his luxurious lifestyle and his efforts in building Kingfisher Airlines, a venture that unfortunately resulted in him defaulting on substantial loans. His assertion that he was still on the right path, despite clear indications to the contrary, reflects his tenacity, although it also speaks to a degree of denial. The Enforcement Directorate (ED) had to invoke new legislation to recover the money he owed, a clear testament to the challenging situation he left in his wake. As Madam Kiran noted, Mallya's refusal to acknowledge the depth of the crisis exacerbated the situation, turning a severe problem into a full-blown catastrophe. Such a situation can serve as a lesson about the importance of transparency and accountability in business. Yet, despite his faults, many still harbor a sense of admiration for Mallya due to his unyielding spirit and his charisma. His youthful attitude remains intact, and many are hopeful that he will make amends, take responsibility for his actions, and possibly make a comeback. Nevertheless, only time will tell what the future holds for Vijay Mallya.
Suggest that you present numbers, facts, figures, data, evidence. Example - purchase price of Deccan, Sahara; Debt of Kingfisher Airline before it started going down; also working style of Vijay Mallya, it will help us to understand an entrepreneur who created a great product/brand - Kingfisher!
While your guest did get into him paying back his debt , I think it is only fair to comment on the fact that he should have stayed to face the music and repay his debts head on rather than delaying and dragging out the whole liquidation process due to his absence and not standing by his emplyees
Unfortunately, the people in India (the majority) doesn't like extravagant people like Vijay Mallya. They have a habit of thinking somebody rich is rich because they are looting their money. They want to scapegoat a billionaire, especially the one who rubs their wealth in their faces, as someones evil. And the politicians utilize to their advantage because it's the majority that matters for their votes. If the government now allows Mallya back to India, they would be antagonizing the big majority which hates the billionaires. Hence the reason he won't be let back in to India anytime soon. The politicians need their votes. The dumb people who are angry that they are poor need a blacksheep. Mallya led a larger than life lifestyle. He had great models by his side. He was heading a beer company. He talked of luxury & extravagance. People cannot fathom that. People gave him a bad boy image. India is not UK that it would support the bad boy billionaries like Richard Branson. India is a country where you have to play your part. Like the Murthy family and their PR team does. You have to "appear" to be doing social service while all you are doing is increasing your own wealth and fame. India needs people who lie and manipulate. Not the truth talkers like Vijay Mallya. The ones who play the humble card and silently make money, and the ones who act like they are "simple" while their family has UK prime ministers are the kind of people India likes. They needs wolves in sheep clothing. Not who wolves who are proud to be wolves. Peace out.
If Vijay Mallya could pay back all his loans why did he leave the country at the first place. Wasn’t that a reason to suspect that he wanted to avoid loan payment.
From what I have read, he was ready to pay the principal amount back. He wanted some discount/ write off on the interest amount.. Govt of that day wanted to make an example out of him and punish him
Anybody can be extravagant on borrowed money. Not paying salaries to Kingfisher staff was fine business practise I guess. These privileged people live in their own posh land and forget the common people.
Yes people like Vijay Mallya, Nirav modi, Mehul choksey deserves a second chance as Indian banks bows in front on them for their crores of frauds. But when it comes to normal middle class people if he/she doesn't pay just ₹10 lakhs, the banks threatens him & makes the credit score bad.
It’s unfortunate in India, a business man should never fail! What ever he has done to the society , philanthropy,Excise duties,Sales tax,Income tax,wealth tax, salaries, bonuses,employment generation, interest paid to banks, dividends paid etc etc everything will be forgotten. Once a businessman fails he has to commit suicide with family or go to jail! At the same time, we don’t care about corrupt Politicians and corrupt bureaucrats who have made tons and tons of money will be re elected and given promotions time and again, as our memory is short lived!. Did we ever question why many public sector/ government businesses failed? Was anyone held accountable, tax payers money was continuously pumped to keep the few employees happy without doing anything. Malaya had a very bad media trial and the common public was misled by citing his flamboyance. It’s is really sad to see him as a fugitive by his own country men for whom he has immensely contributed as mentioned above directly or indirectly.
Problem is that some business men dont understand the meaning of debt equity ratio as applicable to the business or industry they are in. Governance is another aspect. The Board is just a spectator. Show me a truly independent director.
Ms. Mazumdar Shaw should know that tax payers funded the generosity of Mallya. The position he got into was due to the his king-sized life and expensive hobbies that no doubt gladdened those who had the access to be his guests. BTW, Indian govt too wants Mallya back. He is the one resisting tooth-and-nail.
A true businessman & an entrepreneur… strategise & expand to hilt no matter what the end result …INDIAS VERY OWN HOWARD HUGHES … but still iron willed & MIND YOU RARING TO MAKE A profitable COMEBACK
yeah stealing 9000crs and goes fugitive deserves second chance where a common citizen failed to pay couple of bank emis of few thousands rupees could not take a new loan.
In India it's not always business making blunder it's Banking, loan system when you can't pay they don't give u chance. And if government makes Blunder after blunder you get Chances after chances. But for Businesse Man and Common Public. If you can't make it, Banking agencies Government will not spare you and your Family
Mr Vijay Malliya should come back to India and start second innings with support both state and central government and create more employment opportunities for the society Deccan Airlines buying was an Emotional decision on language, instead selling Air Deccan to Mr Anil Ambani , certain political personalities influenced Mr Vijay Malliya to take a hurried call on Air Deccan acquisition at Midnight - read and heard through some News media . In life everyone does the mistake , sometimes , it becomes costly
Mr Mallya created his businesses like a generous big-hearted King. But when costs of operating them exceeded income, he had no bank of funds to keep everything afloat. That is
Nikhil, I was working with McDowell from 1982 to 1989 was lucky enough to have met Mr Vittal Mallya & VJM on serval times for Business meets, UB group was very small then especially McDowell ! I strongly believe he had very wrong second line advisors & off course his bad days had began when got friendly with Prafulla Patel & Sharad Pawar !
Yes Praful Patel and Naresh Goyal did him in.
Kiran said it right. nothing else.
“Everybody deserves a second chance”
Yes, the people who he didn’t pay and tax payers whose money he spent for living a “KING SIZE LIFE” 😠
What taxpayer money?
He was one of the top tax payers during good times. What do you mean by tax payer's money ?
He betrayed country , those who betray motherland doesn't deserve 2nd chance , its buisness terrorism
@@shashG30 what do you do for a living?
@@rohitman2606 😃😃😃
Your friend lived king-size and so generous, but he didn't pay his poor employees
They don't listen to us poor peasants because they are busy being generous throwing parties to millionaires
Which company employee he didn't paid
@@krishna_o15kingfisher airlines
@@saber3112 dude why would employee of bankrupt company be paid. and don't tell me all those same employees didn't enjoyed working at kingfisher when they were employed . its this patethic that we don't support our businessman enough. Vijay according to me took a bet of developing a luxurious airline but the product market fit wants ready and I wouldn't want him to be punished for political browny points
@@krishna_o15 vijay mallya was responsible for making kingfisher bankrupt by irresponsibly running it and failing it to make it a viable business . You seem to be a chamcha of vijay mallya..
Completely agree with the views of Madam Kiran Mazumdar Shaw. Vijay Mallya must be called back and supported rather than penalized for a business failure. He has built many world-class businesses, generating huge taxes for the country and most importantly 'Employment'. Kingfisher Airlines must be revived by partnering with foreign airlines.
No he doesn't have to revive Kingfisshers airline. He can do other business . Like airline business is too clutered in India.
Siphoned tax payers money not generate.
Not paying his employees in the airline even when he had the money was not pardonable .
@@jssidhoo He has paid back all the money he owes the banks. He will pay his employees too if he is allowed to continue his business. His problem is too much ego and pride.
@@bsviky Please put yourself in the shoes of the employees who have not been paid for yrs while he is living in luxury in the UK
Young India needs to listen Vijay Malya’s perceptive as well. We call actors heroes and these entrepreneurs fraud.
😮 true
The difference is actors don't take a humongous debt and run away. Some entrepreneurs do. Malya was never a hero and never will be
Would you say the same thing if you were one of the lenders?
@@dgr8oneme actors are doing a job for the producer ,its the producer who takes debt baby.
@@indian9632 Profits and losses are a part of business.
Ma'am, kindly understand throwing parties to other millionaires friends is not what you call "generous", it's called networking to grow your business. Throwing money as investment to nurture rich friendships gives you back ten-fold. I think you might need to touch some grass and connect with truly generous humble people
Then what is being generous?
Giving quietly to the needy. Helping people that can do nothing for you. That is generosity
Creating jobs for thousand and helping build their livelihood is what then according to you? Common, stop being a communist. People make money and they enjoy it. Big deal. Some people go to local bars and give friends treat. If you have little more money, you tale them to a local pub. You have even more money, you throw lavish parties. Don't be a hypocrite.
I’ve heard that , besides not paying employees, kingfisher, deducted tax at source from the employees, but didn’t give it to the IT. In effect, the the employees had to pay that tax portion (again) to the authorities.
He was generous and lived life King Size. Would have been better of he had done all that by paying from his own pocket rather than using banks (i. e. Common man's) money.
Well said
In India, living lavish lifestyle comes at a price
Anywhere in the world it comes with a price
Well said
@@itn0687yes but imagine someone living a frugal lifestyle and then failing. He will probably not be accused as much. Hence all our politicians wear kurtas and come across as simple people.
@@_SoundByte_Wolves in sheep’s clothing!
It applies , everywhere in the world but spending debt/loan money of banks (public money)
Never cross the politicians and the bureaucrats especially in india. They have nothing to loose but you may loose everything.
When the common people realise their life is hell that they have no future and that they have nothing to lose, the politicians and bureaucratics will lose everything
Bringing back Tippu's sword started the back luck chain reaction, he started making all the bad decisions from then.
True that, Vijay should be brought back and should be given a chance with limitations to do some business for growth of india . Everyone needs a second chance. He is more worth here than being a fugitive in UK
Wonder if a Honest Middle Class person would be able to getaway by defaulting on their Education loan on a Foreign University and be given so much time to pay it back !! But that said - He was indeed the "KING OF GOOD TIMES"....And to that I hope he can resuscitate his Empire !
Is being in exile and losing everything considered “getting away”?
@@rrb2nd Try spending a day in any Indian jail with all the mosquitoes and open defecation !
Most misunderstood point here is Vijay Mallya was promoting his liquor brand through the airlines business which would eventually payoff if the government hadn’t stopped his liquidity funding for the airlines business. So there was no question of self denial , if virgin airlines could pull it off by selling record albums then for Vijay Mallya it should have been a cake walk. His vision was super clear and it was all set for success, just that time and Govt was not on your side .
Also he bought over Deccan airlines as that was the only way to get international license for the airline business . He is a man with a great vision which is not properly understood by the masses & when such visions fail to take off inspite of giving your best, you end up being a recluse in UK.
Even Sucheta Dalal supported Chanda Kochchar saying she broke the ceiling. Didn't mention the fact that she also flew away with the money.
Once called the "King of Good Times" due to his extravagant lifestyle, Mallya and his companies have been embroiled in financial scandals, and controversies since 2012.[52][11] Mallya left India on 2 March 2016 after saying he wanted to move to Britain to be closer to his children.[52] A group of 17 Indian banks are trying to collect approximately ₹90 billion (US$1.1 billion) in loans which Mallya has allegedly routed to gain 100% or a partial stake in about 40 companies across the world. Several agencies including the Income Tax Department and the Central Bureau of Investigation are investigating Mallya for charges including financial fraud and money laundering,[54][55][52][56] and the Attorney General said that Mallya's assets abroad are "far in excess to loans taken by him".[52] The 17 banks added a joint petition at the Supreme Court of India in March 2016 to try to prevent Mallya from leaving the country, but the Indian government indicated that he had already left. The Enforcement Directorate of India also filed a money laundering case against him in March 2016 for allegedly sending abroad some ₹9 billion (US$110 million) that had been loaned to his airline.[52]
On 24 April 2016, the Ministry of External Affairs (India) revoked Mallya's passport,[57][58] and he resigned from the Rajya Sabha on 2 May 2016, the day before their Ethics Committee was prepared to recommend his expulsion.[1] Currently the Enforcement Directorate is seeking Interpol to raise an international arrest warrant against Mallya.[59][60] Also, the High Court of Judicature at Hyderabad issued a non-bailable warrant against Mallya on 13 March 2016 for his failure to appear in the court regarding an allegation of cheating the GMR Hyderabad International Airport Ltd by issuing them a dishonoured cheque for ₹5 million (US$63,000).[61]
On 13 June 2016, the Prevention of Money Laundering Act (PMLA) court declared Mallya a "proclaimed offender" on a request by the Enforcement Directorate (ED) in connection with its money laundering probe against him in an alleged ₹90 billion (US$1.1 billion) loan default case.[62]
Mallya co-owned the Formula One team Force India from 2007 to 2018. In the middle of the 2018 Formula One season, Sahara Force India went into administration due to financial trouble.[63] In August 2018 the team's assets were purchased by Racing Point F1 Team, and continued to race under the Force India name for the remainder of the 2018 season.[64][
besides route learning, do something else.
Thanks for bringing FACTS to public view. Everyone is entitled to opinions on who's good or bad, but facts matter.
Extraordinary
Go on with more failure stories like this as well
Then only learners of business will be able to understand the two sides of the coin
Love you for adding the value in my life
I spent 10 minutes of my life trying to find a billionaire who owns his/her own podcast...found None... Nikhil is the ONLY... in the entire world !!
Thank you nikhil for doing this for us :)
All-in Podcast , where 4 Billionaires talk about various stuffs .
Even today if Mr Mallya comes back and sets up a new beer brand , there will be lakhs of people like me who would support him …he could definitely build another brand
Correction: Nobody can replicate KF Premium as a product. One of the best in the world IMO. Brand follows the product.
एकदा झवलं कि त्याने सगळ्यांना तरी भागलं नाही काय ? कि पुन्हा बोलवता बोकांडी बसायला ....
@@diptenbanerjee7325Bro, certainly not best in the world, not even close. Central and Eastern European beers are way better than Kingfisher.
@@pt-7890 Out of the many beers I've tasted, I think KFP has it's place buddy.
I see him in a different light now. If he paid what he owed, then he should be here. Would love to see, what he starts next.
Unfinished businesses is a wonderful book that has analysed his fall. Must read book for entrepreneurs. Stay blessed always 🙏
Agreeing with Kiram Madam: He should come back to India and start over. He's a good person who has been affected by the unfair Indian media & politic ---- we are both East Bengal Supporter ...
Every businessman must learn from Vijay Malaya and Anil Ambani story.
Anil Ambani is a total fraud. On the other hand VM was ready to pay the principal amount. When Modi and cronies fled with much more than VM owed to banks. People were harsh on him.
He did a willful default. He wasn't forced out of the country. He defrauded the country and ran away like a coward. SBI & other lenders must be held accountable who idiotically gave him the loan.
It seems like there is a UA-cam bot that is trying to suppress any comment that says negative about him.
You might find some random replies to prove that he was right.
@@quarksense then why did he take the loans?
Yup .. he lived his life King size! He contributed in many ways to Bangalore and he has that aura! He should be back soon
It's was never about the airline business. He just wanted to lead an uber lavish lifestyle with F1, IPL and parties at the cost of airlines. Had he been generous, he would have paid their salaries...
Vijay Mallya is one of the few visionary people in modern india, it is all political interference which cornered him to this level, he is not like others who runs away with public funds.
She is such a gem of a person..I am someone who worked for Biocon in Dubai. She cares about every individual in her organisation.. God bless you more mam
Seriously 😮
Lack of Political back up in central gov or support for many businessmen in South India has always been a serious matter
It was a nice conversation. It becomes better when someone from the fraternity asks much more relevant questions that a relevant viewer like me can relate and learn. Thanks
As from a lower middle class if I miss one installment of my loan, my life is made hell. And Malya still enjoys life King Size.
I remember kingfisher airlines as the best possible experience in Indian skies.... For those who missed out, will never know those luxurious times
Thanks Nikhil for bringing this question up
But what about moral responsibility?
Kingfisher airline employees committed suicide due to no salary for few months while Vijay was throwing parties and enjoying his life?
Businesses may grow or fall, but the owner needs to be accountable for their staff.
@@quarksense re-read the comment again. Vijay was throwing PARTIES rather than paying employees their salary. If any businessman does similar things, he will also be questioned about morality.
@@anujitganguly Mallaya had already said that was sabotage by his company members to ploy everything against him.
Nikhil u r simply awesome. So simple nd genuine
As the topic is "Where V.M went wrong " there could be several reasons such as incompetence, negligence, selfishness, lousy decision making, poor management skills, indecent lifestyle habits, no dedication, no firm commitment, poor assessment of benefit and risk management, and many more.
No matter what people say, we banglorean loved his presence here, we miss him dearly and want him back soon in bangalore
Huch sule maga neenu
India doesn't deserve people like Vijay Mallya. With the word cost consciousness all Indians are just being beggars. Today baring vistara you dont have a full service airline. Kingfisher I have flown many a times and I have always told It was well ahead of its time.
“Generous “ is used in quite selective term I think.. when a chairperson is not playing lots of dues and salaries and loans etc while he is celebrating his birthday in most lavish style is very much contradictory. He has all rights to spend money whatever ways he like.. but when u own lots from people and at that time if u choose to prioritise yourself only for just fun and in denial for mounting demands which need his money , attention and energy that’s make big difference.. good and bad time are part of life/ business.. during bad time , what and how u do shows u r true character.. no comparison but Dhirubhai had down cycle too. Rather maintaining lifestyle , he choose to maintain TRUST and worked doubled hard .. people trusted Dhirubhai by giving him their hard earned savings and Dhirubhai CHOOSE to not to break that TRUST..other classic example is TATA motors which were not successful in starting years ..think about respected Ratan Tata , what he could have do if he was in place for Malya …that’s what makes difference…
Hey Nikhil,
Your show is going amazing! The content & subjects you are choosing for discussion are vivid and to the point!
Well, growing up and getting inspiration from a flamboyant entrepreneur (VM) I believe this episode decoded an entrepreneur in a neutral way, rather than focusing on what wrongs he did!
Cheers!
Take my advice friend. If you wannna be a serious entrepreneur, nikhil is hardly the one to get inspired. India has some many rags to riches stories. Pick anyone but the kamaths. Don't forget he CHEATED on Vishy Anand in a chess match - he revealed his subconscious approach to life and business in that match
Indian politicians & media behaved like a pack of wild dogs while dealing with Vijay. We didn't even deserve the class of airlines which he had the guts & vision to introduce.
Even those politicians who he may have paid off to avoid the slander & persecution, quite possibly backstabbed him
great episode especially the last 50 seconds were awesome
I totaly agree with Ms Kiran Mazumdar Shaw on VJM.
There are many examples of failure s of people in our country.
Nice interview.
Vijay Mallya did not pay his employees for 6 months. And then threw an extravagant party at his 60th birthday.
I am MSME businessman. I always felt business man should get second chance. He failure largely changing slowing economy mood that point of time. In western world govt give a deal to revive business. In India politicians play politics on business. That’s wrong.
Hi Nikhil - There was a very point mentioned around cutting your losses at the "RIGHT TIME". I think this is a very interesting and important topic which any/all people including young entrepreneurs need to be educated/understand. Wondering if you can have some detailed discussion on this. Kind Regards
The contribution of his company to the excise duty tax was immense . Nobody sees the balance sheets of his company. Definitely he did something wrong to fail but not allowing to enter his country is too sad.
That is not charity. He just paid his dues till his money ran out, He lived a high-flying flamboyant lifestyle on borrowed money that he never thought he would be called upon to pay. His lifestyle should be a red flag for those who splash on borrowed money.
He just facilitated the collection. The tax burden was ultimately borne by the end customer
Anil Ambani is a total fraud. On the other hand VM was ready to pay the principal amount. When Modi and cronies fled with much more than VM owed to banks. People were harsh on him.
Airlines industry is not like any other industries, here you have to spend several crores of rupees, but the returns are very less!!! Aviation turbine fuel costs are high, and the ticket prices are fixed by the government for different routes, so you get less money , but you spend so much money!!! That's why Vijay Mallya was almost bankrupt and fled to Britain to avoid arrest here in India!!!😢😢😢😢😢😢😢😢.
Superb interview..Keep it up Nikhil 👍
He failed to pay PF and salaries of his employees. He took 40 million from Diageo and fled and distributed among his family. He could have paid the salaries and cleared dues. We are paying high interest rates on loans as people like have sucked out liquidity from the system
Yes, many businesses fail irreversibly because of procrastinating the downsizing a business to cut losses. Thia can happen to small petty shops to big airlines like KingFisher. He should not have moved out of country.
Many first generation millionaires grew up, cutting down and downsizing their businesses.
Enfield is one such story we saw in the recent decades and there are many revival stories.
Nice comments from Mrs Shaw... lessons to be learnt
He lost the second chance when he didn't pay salaries for Kingfisher employees. His place is behind bars.
Sad to see so many people who don't understand business and randomly comment about a person who did so many better things apart from this blunder.
I find it funny that people don't question the bank when they provided loan for a loss making business. Why was the bank not capable to do proper due diligence of his airlines businesses
Your clips are of the right duration and arrive right at the chase👍....great going there!!!
She expanded it so correctly!
woww!!! nikhil you have invited one of my inspiration
Stinks of elitism. Madam's dear old friend drove many of his employees to suicide when he deserted them. Dear old friend doesn't deserve a second chance. He deserves facing justice in India for the sake of those destroyed families.
Yes, Vijay Mallya was India's answer to Richard Branson. But his businesses failed and he continued to party hard while his employees weren't paid salaries for months. So before we feel sorry for the poor yacht owner, seeking 'refuge' in the UK, maybe spare a thought for the people whose lives he damaged irreparably.
HI Nikhil this is very frank and honest conversation.
If Kingfisher airlines were operating currently it would've been Vistara of Indian aviation
It would have been the best airline in the world but running an airlines business is not easy and it is a capital intensive market kingfisher airlines could never make profits and expenditure was more than the revenue
Ms Shaw is me defending my drunkard friend who destroyed his entire reputation. 😅
"not being in denial, recognize failure when seeing warning signs, procrastinate the decision to pull the plug...cutting losses" - some important points.
This anti India Gorgon won't state the simple fact that main reason was that the plum routes were given to Congress owned Indigo, hence all other airlines were collateral damage.
Nice Interview Nikhil
Its simple Vijay Mallaya tried to make Emirates here but the product marekt fit and time was not right. Now you see people paying big bucks for vistara and India is seeing higer per capita income. Its just was not his time
Sharad Pawar looks like black spot on life ...even god has given him punishment still he is not understanding ..may be during last breath he will understand enough of politics ....
Yes, let him give it a second chance...❤vm
In my view same goes with Biocon, Viatris acquisition maybe a very big price to pay, where the business of bio similars is just beginning to take off.
Vijay Mallya acquisition looks like a bad call in hindsight. 0:36
Nikhil...doing great and best wishes hats off....but this lady, Kiran, is far too mature and the way she spoke out or analyzed VM, was truth to the best centricity! I have a zerodha acc, btw and love it as well 🥰🥰🥰
This ki d of insight we can't find anywhere in the world
Vijay Malya’s case is a witch hunt.
Objectively , there are worse titans of debt who are strutting around in India. Vijay’s involving in politics is a no no as a businessman. That came with an unaffordable price. Whilst his actual default is much less than whats projected ( with the penal interest & the interest on interest , etc), Vijay’s singularly moral fault was not clearing the Dues of his employees which is unpardonable
( & something his Father would hv never done). ⚔️⚓️🇮🇳
Hey Nikhil...your vlogs are really nice...in the sense, i learn a lot watching them. Thank you for this...Proud of you!
Vijay Mallya is indeed an intriguing figure who has garnered much attention both for his business acumen and his controversies. He is remembered for his luxurious lifestyle and his efforts in building Kingfisher Airlines, a venture that unfortunately resulted in him defaulting on substantial loans.
His assertion that he was still on the right path, despite clear indications to the contrary, reflects his tenacity, although it also speaks to a degree of denial. The Enforcement Directorate (ED) had to invoke new legislation to recover the money he owed, a clear testament to the challenging situation he left in his wake.
As Madam Kiran noted, Mallya's refusal to acknowledge the depth of the crisis exacerbated the situation, turning a severe problem into a full-blown catastrophe. Such a situation can serve as a lesson about the importance of transparency and accountability in business.
Yet, despite his faults, many still harbor a sense of admiration for Mallya due to his unyielding spirit and his charisma. His youthful attitude remains intact, and many are hopeful that he will make amends, take responsibility for his actions, and possibly make a comeback. Nevertheless, only time will tell what the future holds for Vijay Mallya.
Suggest that you present numbers, facts, figures, data, evidence. Example - purchase price of Deccan, Sahara; Debt of Kingfisher Airline before it started going down; also working style of Vijay Mallya, it will help us to understand an entrepreneur who created a great product/brand - Kingfisher!
While your guest did get into him paying back his debt , I think it is only fair to comment on the fact that he should have stayed to face the music and repay his debts head on rather than delaying and dragging out the whole liquidation process due to his absence and not standing by his emplyees
Unfortunately, the people in India (the majority) doesn't like extravagant people like Vijay Mallya. They have a habit of thinking somebody rich is rich because they are looting their money. They want to scapegoat a billionaire, especially the one who rubs their wealth in their faces, as someones evil. And the politicians utilize to their advantage because it's the majority that matters for their votes. If the government now allows Mallya back to India, they would be antagonizing the big majority which hates the billionaires. Hence the reason he won't be let back in to India anytime soon. The politicians need their votes. The dumb people who are angry that they are poor need a blacksheep.
Mallya led a larger than life lifestyle. He had great models by his side. He was heading a beer company. He talked of luxury & extravagance. People cannot fathom that. People gave him a bad boy image. India is not UK that it would support the bad boy billionaries like Richard Branson. India is a country where you have to play your part. Like the Murthy family and their PR team does. You have to "appear" to be doing social service while all you are doing is increasing your own wealth and fame. India needs people who lie and manipulate. Not the truth talkers like Vijay Mallya.
The ones who play the humble card and silently make money, and the ones who act like they are "simple" while their family has UK prime ministers are the kind of people India likes. They needs wolves in sheep clothing. Not who wolves who are proud to be wolves. Peace out.
Hey Nikhil your show is going excellent.. please interview with Radhakishan Damani 🎉
Still I am a big fan of him...he is a good business man and somewhere he went wrong..bad luck
Great to know he has paid back. Now he is needed to be back on Indian soil. A great personality
Great stuff dude. Honest, Real, Personal perspective driven and not caring much about the politics of modern public speaking.. great job
What a advice!
Thankyou
If Vijay Mallya could pay back all his loans why did he leave the country at the first place. Wasn’t that a reason to suspect that he wanted to avoid loan payment.
From what I have read, he was ready to pay the principal amount back. He wanted some discount/ write off on the interest amount.. Govt of that day wanted to make an example out of him and punish him
Anybody can be extravagant on borrowed money. Not paying salaries to Kingfisher staff was fine business practise I guess. These privileged people live in their own posh land and forget the common people.
He lived king-size and generous - at whose cost !!
Yes people like Vijay Mallya, Nirav modi, Mehul choksey deserves a second chance as Indian banks bows in front on them for their crores of frauds. But when it comes to normal middle class people if he/she doesn't pay just ₹10 lakhs, the banks threatens him & makes the credit score bad.
Madam, I liked your candid views and i totally agree that he should be given 2nd chance without 2nd thoughts
It’s unfortunate in India, a business man should never fail! What ever he has done to the society , philanthropy,Excise duties,Sales tax,Income tax,wealth tax, salaries, bonuses,employment generation, interest paid to banks, dividends paid etc etc everything will be forgotten. Once a businessman fails he has to commit suicide with family or go to jail! At the same time, we don’t care about corrupt Politicians and corrupt bureaucrats who have made tons and tons of money will be re elected and given promotions time and again, as our memory is short lived!. Did we ever question why many public sector/ government businesses failed? Was anyone held accountable, tax payers money was continuously pumped to keep the few employees happy without doing anything. Malaya had a very bad media trial and the common public was misled by citing his flamboyance. It’s is really sad to see him as a fugitive by his own country men for whom he has immensely contributed as mentioned above directly or indirectly.
Correctly said! Acres of land of HMT, ITI, etc laid waste with buildings crumbling…..
Vijay Mallya the OG of Namma Bengaluru
We need Vijay Mallya. Home grown Billionaire.
Problem is that some business men dont understand the meaning of debt equity ratio as applicable to the business or industry they are in. Governance is another aspect. The Board is just a spectator. Show me a truly independent director.
Ms. Mazumdar Shaw should know that tax payers funded the generosity of Mallya. The position he got into was due to the his king-sized life and expensive hobbies that no doubt gladdened those who had the access to be his guests. BTW, Indian govt too wants Mallya back. He is the one resisting tooth-and-nail.
I don't think UK will let Mallya go back.
Touching tippu sword is big jinx for him plus curse of exploited women.
How do we get him back?
your awesome and what your doing with podcast is wild I consider u OG and I respect to u
A true businessman & an entrepreneur… strategise & expand to hilt no matter what the end result …INDIAS VERY OWN HOWARD HUGHES … but still iron willed & MIND YOU RARING TO MAKE A profitable COMEBACK
yeah stealing 9000crs and goes fugitive deserves second chance where a common citizen failed to pay couple of bank emis of few thousands rupees could not take a new loan.
In India it's not always business making blunder it's Banking, loan system when you can't pay they don't give u chance. And if government makes Blunder after blunder you get Chances after chances. But for Businesse Man and Common Public. If you can't make it, Banking agencies Government will not spare you and your Family
Vijayamallya was published Bengaluru development India financer and kingfisher Airlines he father was chairman
Mr Vijay Malliya should come back to India and start second innings with support both state and central government and create more employment opportunities for the society
Deccan Airlines buying was an Emotional decision on language, instead selling Air Deccan to Mr Anil Ambani , certain political personalities influenced Mr Vijay Malliya to take a hurried call on Air Deccan acquisition at Midnight - read and heard through some News media .
In life everyone does the mistake , sometimes , it becomes costly
Mr Mallya created his businesses like a generous big-hearted King. But when costs of operating them exceeded income, he had no bank of funds to keep everything afloat. That is