Vijay Mallya ,Kingfisher Airlines Declared Willful Defaulters

http://www.financialexpress.com/article/industry/companies/sbi-declares-vijay-mallya-a-wilful-defaulter/166518/

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Some time back , I used to attend AGM s of Punjab Breweries , Ludhiana ( merged with United Breweries ).

There I used to inter act with top executives of UB Group ( though I never met Vijay Mallya ).

I recall two different aspects of Vijay Mallya 's personality

Punjab Breweries was merged with United Breweries , Foreign partners ( First 

Scottish & Newcastle ) were brought in. Phenomenal share holder value was unlocked. Similarly , in the case of McDowell and Co. We held shares in Carew and Co. ( merged with McDowell ) . The struggle with Chhabrias for control of Shah Wallace brought forth the fighter in Vijay Mallya.

The other aspect of his personality -imulsiveness

. Immediately on inheriting a vast fortune , at a very young age from his father Vittal Mallya, Vijay sold the iconic Kissan and Hebertsons ( Dipy's ) to Hindustan Lever. There was a legal spat as Vijay , simultaneously  ,entered in to an Agreement for sale of Kissan with Food  Specialties ( Nestle ) also. Hind Lever took out a Suit For Specific Performance This was totally avoidable as were present negative developments

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At the  Court convened meeting of shareholders for merger of Punjab Breweries with United Breweries I put forth a point that Post merger , Ludhiana factory be , always , referred as United Breweries ( Unit Punjab Breweries ,Ludhiana ) so that the word Punjab  always remains. I have never taken liquor. But when ever , around Punjab , I see a Bottle of Kingfisher Beer , I read  ( now with Specs ) on the label the words Unit Punjab Breweries.

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OLDER POST

Vijay Mallya Should Save Kingfisher a la Sir Dorabji Tata

Vijay Mallya has adequate resources to rescue Kingfisher .Vijay should follow the noble precedent set by Sir Dorabji Tata
( Once during the Great recession of 1920 s Sir Dorabji Tata pledged family jewelery to pay on time salaries etc ) of Tata Steel ( then known as Tata Iron And Steel Company Limited ).


Please read this from Tata`s Official Site :- 

Sir Dorab`s commitment to his father`s vision and values was so strong that he staked his personal fortune to save the steel venture when, in 1924, it slipped into trouble. His business sense and audacity had seen the company undertaking a five-fold expansion programme in the post-World War I period. Spiralling costs combined with transport and labour difficulties in the West upset Sir Dorab’s calculations. At about this time, the company’s largest pig iron customer, Japan, was struck by an earthquake and steel prices tumbled. 
It got to a point when there was not enough money to pay his workers’ wages. Sir Dorab pledged his entire personal fortune worth, about Rs1 crore and including his wife’s personal jewellery, to obtain a loan. Tata Iron and Steel secured support from unexpected quarters — among those backing the company were Jawaharlal Nehru and Mohammed Ali Jinnah, the future leaders of independent India and Pakistan — and it survived the crisis.

Credit : http://t.in.com/dhXR

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http://www.rareindianshares.info/2015/09/vijay-mallya-s-private-jet-sold-as-scrap.html