Downfall of the king: A look at Vijay Mallya’s journey from 1983 to 2016
It’s a story from mythology, when Icarus, the son of a master craftsman, believed a bit too much in the wax wings his father had built for him, and flew too close to the sun.business Updated: Mar 14, 2016 18:34 IST
Few would believe it now, but Vijay Mallya was once a star of corporate India. Taking charge of United Breweries at 28, when his father died, he swept all who came in his way. He was the star of every corporate gathering, often making late, dramatic entries with an entourage, including — some accounts say — a man who carried his two mobile phones on a silver tray.
Until hubris got the better of Mallya, until he tried to soar too high with his beloved Kingfisher Airline. For some time, he played the system like a fiddle, helped by his added status as an MP.
Until the day the strings broke. It’s the story of all men, and women, whose successes merely make them greedy for more. It’s a story from mythology, when Icarus, the son of a master craftsman, believed a bit too much in the wax wings his father had built for him, and flew too close to the sun.
Mallya owes around Rs 10,000 crore, including bank loans, tax arrears andinterest dues. This does not include arrears claimed by his former employees...
The liquor baron has almost Rs 4,500 crore in shareholding apart from assets such as primereal estate, a studfarm, a jet and hundreds of vintage cars...