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| Name | भगोड़े की पूरी कहानी | Vijay Mallya Fraud Case Study | Fall of Kingfisher Airlines | Josh Money |
| Video Uploader | Video From Josh Talks Stock Market |
| Upload Date | This Video Uploaded At 08-10-2022 13:00:09 |
| Video Discription | MOST Famous Scam of India | Vijay Mallya Fraud Case Study | Fall of Kingfisher Airlines | Josh Money In today's Josh Money video, we are explaining the most famous SCAM of India which is the Vijay Mallya Fraud Case Study. Vijay Mallya is an Indian businessman and former member of Parliament (Rajya Sabha). Vijay Mallya also owns Royal Challenger Banglore – IPL Team. Vijay Mallya became the chairman of United Breweries Holdings Limited (UBHL) in 1983 at the age of 28 after his father’s death. Vijay Mallya grew its company rapidly. From 1998 to 1999, Vijay Mallya grew the company's turnover by 64%. He also Diversified the business of the company by acquiring many other companies. He acquired Berger Paints which is an Indian Paint company. Vijay Mallya was also elected as a member of parliament twice from Karnataka. The company also achieved the milestone of selling 10 crores cases in India and by this achievement, the company became the second-largest spirits company in India. All this achievement was possible by the control of Vijay Mallya’s Chairmanship. Kingfisher Airlines was launched by Vijay Mallya in 2015. Vijay Mallya wants to expand his liquor and Airline business. His advisors advise him not to do this but despite his advisor’s advice, he does the same. He sold another company formed by his father to fund its airline company. Vijay Mallya’s kingfisher becomes India’s no.1 domestic airline company and the first choice of every passenger. Due to some restrictions, the Indian Government did not allow kingfishers to fly international flights. To fly international flights he leveraged United Spirits or United Breweries to buy Deccan Air which is a loss-making company and merged it with Kingfisher Airlines but it could not make profits thus in 2010 Malaya’s this business was in heavy loss. To run this business he continuously took loans from banks. He took loans of 9000 crores by 17 banks. Although SBI has declared them as bankrupt other banks kept lending him loans because he was a member of Rajya Sabha and some parties supported him. His company kingfisher also -held service tax of passengers, PF, Income Tax of Employees, but did not submit to the PF or IT authorities. The company also did not pay the salary of its employees or ran out of cash. In 2012 the company had to shut down its operation. Vijay Mallya had a loan of 9000 from different banks and he denied to pay this loan. Follow Josh Money on Instagram: https://www.instagram.com/joshmoneylive/ #VijayMallyaScam #BusinessCaseStudy #JoshMoney Video Editor: Ayushi Saxena Thumbnail: Purvang Mehta |
| Category | Education |
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