Mr. Vijay Mallya Is Currently in the Headlines Regarding the Financial and Other Troubles of the Airlines

Total Page：16

File Type：pdf, Size：1020Kb

Mr. Vijay Mallya Is currently in the headlines regarding the financial and other troubles of the Airlines. Everyone in the government, business and media is speculating about whether and how Vijay Mallya will overcome ongoing financial crunch or will kingfisher keep flying? About Vijay Mallya Vijay Mallya is considered as one of the most flamboyant and flashy CEO’s of India who has the habit of always staying in the limelight. He is Chairman of the Kingfisher Airlines and even the United Breweries Group. Mallya’s flagship company United Breweries has the distinction of being the producer of liquor maker by volume. Apart from that, he is also co-owner of the Indian Premier League team Bengal Royal Challengers, I-League team East Bengal FC and Formula One team Force India. He has purchased the items that are historical treasures of India like Tipu Sultan’s sword from an auction and brought them back to India. He is one of the biggest sponsors of the East Bengal football team. Recently he is continuously in the news regarding the multiple financial troubles that Kingfisher is facing. Current state of Kingfisher airlines Kingfisher Airlines is facing multiple troubles today. The pilots have quit at large over the past 3 months. Flights, at a high rate are being cancelled. The cost of fuel has risen considerably thus increasing the airlines debt. To make things all the more difficult, Hindustan Lever had stopped the fuel supply for a couple of hours due to unpaid cost of the supply of fuel. The rising interest rate has increased the debt or the financial crunch of Kingfisher further. It has become a very vicious circle. The companies cannot operate flights due to the shortage of the pilots. No flights mean lack of revenues, which further means, that there will be an increase in debts of the airlines; this again precipitates the vicious circle again. What the future has in store The Chairman of Kingfisher Airlines, Vijay Mallya is one of the most famous faces in the Indian Media who is a billionaire according the FORBES. He is also one person who has carved out one of big business empires in India. For him, the times are tough as one of his empire; Kingfisher Airlines is in financial crisis today and facing problems from multiple fronts. Everyone in the business and media world is asking just one question that how Vijay Mallya will overcome ongoing financial crunch and will kingfisher keep flying or file for bankruptcy. These people forget that Mr. Vijay Mallya is one of the top industrialists of India, who has lot of credibility and experience besides being an MP in the Indian Rajya Sabha. He is sure to meet face these problems and even overcome them to make Kingfisher fly again. .

Copy Link

Recommended publications

Case Study from Riches to Rags: the Story of Vijay Mallya Ms
Pacific Business Review International Volume 9 Issue 7, Jan. 2017 Case Study Case Study From Riches to Rags: The Story of Vijay Mallya Ms. Sweety Gupta Assistant Professor, Rukmini Devi Institute of Advanced Studies, affiliated to GGS Indraprastha University Mr. Shiv Gupta Manager & CEO at Incrementors Web Solutions Pvt. Ltd. Introduction approximately 1.7 crore for the sword of Tipu Sultan at an auction in London won the sword and brought itback Vijay Mallya is an Indian business baron, multibillionaire, to India. He has also bought 30 other items belonging Chairman of the Conglomerate- United Breweries Holdings toTipu Sultan from auction houses in the UKthat (UB). He wasone of the most talked about and prominent includes a cannon, other weapons, and some personal business personalities of India. After the death of his father, items. Mallya became the Chairman of United Breweries Group in 1983 at the age of 28. Afterwards, the group has grown into 6. Represents Sports:Vijay Mallya is a member of the a multi-national conglomerate of over 60 companies. Once World Motor Sport Council representing India in the upon a time, the United Breweries Holdings (UB) Group Federation Internationale de l'Automobile (FIA). He was a sprawling conglomerate with interests in sponsored Kolkata based soccer clubs MohunBagan, pharmaceuticals, agrochemicals, paints, petrochemicals and and East Bengal. He is also the first Indian tycoon to plastics, batteries, food and carbonated beverages. sponsor an entire cricket team, West Indies.In 1996, when Kingfisher had sponsored the West Indies cricket Mallya is also a member of the RajyaSabha, the upper house team, it gave birth to the famous jingle 'Oo la lala le o'.
[Show full text]
EL Perfilvijay Mallya El Presidente De Kingfi Sher Airlines Combina La Espiritualidad Con La Ostentación De La Riqueza Obtenida De Sus Negocios De Bebidas Alcohólicas
EL PERFILVijay Mallya El presidente de Kingfi sher Airlines combina la espiritualidad con la ostentación de la riqueza obtenida de sus negocios de bebidas alcohólicas ya en la primera compañía privada de la India. “Es una oportunidad que no debemos perder”, declaró el magnate. El tráfico aéreo creció un 40% en la India en 2006, una demanda explosiva frente a una oferta insufi ciente y poco competitiva en precios y servicios. Kin- gfi sher Airlines conecta en la actualidad 32 ciudades en la India con 68 vuelos diarios. En el último Salón Aeronáutico de París compró 50 Airbus por 4.600 millones de euros. Con ello, Kingfi sher Airlines pasará a tener 176 aviones en 2018 y comenzará a explotar algunas líneas a Europa, Estados Unidos, Dubai y Singapur. La compañía tiene tarifas para todos los bolsillos, incluida la guest expe- rience, que incluye mozos de carga en la facturación y en destino, tele- visión por satélite durante el vuelo y “las azafatas más hermosas que surcan los cielos”, según la descripción que hacía Mallya al Daily Telegraph. El FOTO: GETTY. propio Vijay Mallya da la bienvenida a sus pasajeros en un mensaje grabado que se emite en cada vuelo: “He dado El rajá de Bangalore instrucciones a la tripulación para que lo traten a usted como a un huésped Incluso en un país como la India, que produce dece- de mi casa”, dice el Richard Branson de Bangalore con su nas de nuevos ricos cada año, Vijay Mallya es un caso apar- melena plateada, sus pendientes de oro y un brazalete con te.
[Show full text]
Presentation Outcome
State Of The Industry Monday, July 15th, 2019 déjà vu! Future World Monday, July 11th, 2016 Nashville, TN Presentation Outcome 1. To be current on the “state of the industry” 2. Armed and ready to do battle 3. Deliver a “wake up” call to this group 4. Eliminate any sense of complacency 5. Tackle your dwindling influence at the state level 6. Time for action and leadership by you Timing • 50 minutes for the presentation • 10 minutes for Q&A Major Topics 1. Global Overview 2. Alcohol & Health 3. Regulatory Developments 4. Legal Developments 5. Counterfeiting & Secondary Market 6. Taxation 7. Consumer Trends 8. ON Premise 9. Consolidation 10. Technology Global Overview Positive Negative Global Spirits Care To Guess How Many Sold Annually Around The World? 750ml Bottle Size Annual Global Market 36 Billion Bottles 3 Billion Cases Annual Global Market 900,000,000,000 900 Billion Drinks 122 Drinks Per Head It Is A BIG Market! You Might Logically Ask “Where”? Industry Overview - Global - You Might Logically Ask “What”? Industry Overview - Global - Industry Overview - Global - Whiskey Positive Negative Global Alcohol - Positive Headlines - • Prohibition worked better than you think • World's alcohol consumption expected to rise 17% in next decade • Alcohol use soaring worldwide: The average adult now consumes about 1.7 gallons of pure alcohol per year • Asia-Pacific spirits sector to grow by over USD $100bn by 2022 • Baijiu tops most valuable spirits list • IWSR Forecast: Global alcohol consumption to hit 28bn cases and $1.07tn by 2022 • ASIA DOMINATES WORLD'S BEST-SELLING SPIRITS BRANDS • Global alcohol consumption reverses decline in 2017 • Spirits overtake beer as 'most valuable' alcohol category: Nielsen • Cocktails Rise and Shine While Beer and Wine Sales Slip Global Alcohol - Negative Headlines - • A Ten-Year Plan To Reduce Global Alcohol Consumption Is Showing Results • People are sick of drinking.
[Show full text]
United Spirits Limited Registered Office : ‘UB Tower’, #24, Vittal Mallya Road, Bangalore - 560 001
United Spirits Limited Registered Office : ‘UB Tower’, #24, Vittal Mallya Road, Bangalore - 560 001 NOTICE IS HEREBY GIVEN OF THE ELEVENTH ANNUAL GENERAL MEETING of the Company to be held at Good Shepherd Auditorium, Opposite St. Joseph’s Pre-University College, Residency Road, Bangalore – 560 025 on Wednesday, September 29, 2010 at 11.00 a.m. for the following purposes: 1. To receive and consider the accounts for the year ended March 31, 2010 and the reports of the Auditors and Directors thereon; 2. To declare dividend on Equity Shares; 3. To elect a Director in the place of Mr. Subhash Raghunath Gupte, who retires by rotation and being eligible, offers himself for re-appointment; 4. To elect a Director in the place of Mr. Sudhindar Krishan Khanna, who retires by rotation and being eligible, offers himself for re-appointment; 5. To appoint Auditors and fix their remuneration; 6. Commission to Directors To consider and if thought fit, to pass with or without modification, the following Resolution as a Special Resolution: RESOLVED that the Company’s Directors other than a Managing Director or Director(s) in the wholetime employment of the Company, be paid every year a remuneration not exceeding one percent of the net profits of the Company, which amount they may apportion among themselves in any manner they deem fit, in addition to sitting fees, if any payable to each Director for every Meeting of the Board or Committee thereof attended by him/her, and that this Resolution remain in force for a period of five years from April 1, 2011.
[Show full text]
UNITED BREWERIES [HOLDINGS] LIMITED to Be Held at Good Shepherd Auditorium, Opp
Board of Directors N. Srinivasan S. G. Ruparel V. K. Rekhi Dr. Vijay Mallya Chairman B. S. Patil Sidhartha V. Mallya M.S. Kapur A. Harish Bhat Kaushik Majumder Managing Director Corporate Vice President - Dr. Vijay Mallya The Team Legal & Company Secretary Chairman CONTENTS Report of the Directors 1 Report on Corporate Governance 8 Auditor’s Report 21 Balance Sheet 24 Statement of Profit and Loss 25 Cash Flow Statement 26 Notes to the Financial Statements 28 Consolidated Financial Statement 58 Left to Right: Subhash R. Gupte, Ravi Nedungadi, V. Shashikanth and Anil Pisharody. Notice of Annual General Meeting NOTICE is hereby given of the Ninety-Sixth Annual General Meeting of the Members of UNITED BREWERIES [HOLDINGS] LIMITED to be held at Good Shepherd Auditorium, Opp. St. Joseph’s Pre-University College, Residency Road, Bangalore 560 025, on Thursday, September 27, 2012 at 11.30.a.m. to transact the following business: Ordinary Business 1. To consider and adopt the Audited Accounts for the year ended March 31, 2012 and the Reports of the Auditors and Directors thereon. 2. To appoint a Director in the place of Mr. Sidhartha V Mallya, who retires by rotation and, being eligible, offers himself for re-appointment. 3. To appoint a Director in the place of Mr. S G Ruparel, who retires by rotation and, being eligible, offers himself for re-appointment. 4. To appoint Auditors for the ensuing year and fix their remuneration. The retiring Auditors are eligible for re-appointment. Special Business 5. To consider and, if thought fit, to pass with or without modification, the following Resolution as an Ordinary Resolution : “RESOLVED THAT Mr.
[Show full text]
What the Battle Between Diageo & Vijay Mallya Over United Spirits
What the battle between Diageo & Vijay Mallya over United Spirits means for the company Binoy Prabhakar, ET Bureau May 10, 2015, 06.53AM IST On May 5, 2014, United Spirits, India's largest liquor company, received a letter that reeked of trouble. It was sent by lawyers representing a creditor that claimed to have advanced loans totalling Rs 200 crore to Kingfisher Airlines, a company promoted by United Spirits chairman Vijay Mallya. The lawyers said United Spirits had stood guarantee to the loans and Kingfisher (grounded since October 2012) had defaulted on payments as well as interest of Rs 79 crore. Ergo, United Spirits must pay a total sum of Rs 279 crore due to the creditor, they demanded. United Spirits contested the claim, stating it had no knowledge about the loan transactions or the guarantee. But in a curious turn of events, the creditor informed the company on July 31, 2014 that it had no claim or demand because its lawyers had not accounted for an addendum to the loan agreement that freed United Spirits of any obligation. The sequence of events above, recounted by the auditor BSR & Co in the USL Annual Report for 2013-14, underscores the difficulties UK's Diageo Plc, the world's biggest drinks company, has encountered since it agreed on November 9, 2012 to buy a majority stake in United Spirits from Mallya's United Breweries Holdings Ltd (UBHL) through a complex shareholder agreement (see A Far-From-Smooth Takeover). United Spirits is also owed Rs 1,337 crore by UBHL, the parent company of UB Group.
[Show full text]
Surrogate Advertising
Surrogate Advertising DEFINITION:- In simple words when you advertise a product such as liquor or cigarettes that is banned from being advertised, by using another product (with the same name) . Duplicating the brand image of one product extensively to promote another product of the same brand. ORIGIN OF SURROGATE ADVERTISEMENTS Need of alternative path of advertising of banned product The problem occurs when brand extension is carried out in response to the ban on advertisement of one product category. In this case, the companies launch other products with the same brand name for the purpose of reminding their old customers • EXAMPLE:- "HUM, tum or mera Bagpiper". This Bagpiper club soda advertisement, featuring cine celebrities, is similar to the earlier one for Bagpiper whisk Surrogate Advertisers The major player who use surrogate advertising as their strategically promotion elements: • WILLS • MANIKCHAN • BACARDI • KINGFISHER • ARISTROCRAT • SMIRNOFF • SEAGRAMS Surrogate Advertiser COMPANY NAME SURROGATES MC DOWELLS WATER AND SODA BAGPIPER WATER AND SODA, CASSEETES AND COMPACT DISCS GODFREY PHILIPS BRAVERY AWARDS RED AND WHITE BRAVERY AWARDS BACARDI CASSETTES AND COMPACT DISCS KINGFISHER WATER AND CALANDER ROYAL CHALLENGE GOLF TOURNAMENTS SMIRNOFF APPLE JUICE Kingfisher promote their liquors, beers and whiskies, which constitutes 95% revenues of the UB group. It is neither promoted by the Central nor by the State government. The advertising of these products are banned on the television. The liquor king Vijay Mallya and his group promoted their products by different strategies , like They owned a cricket team ROYAL CHALLENGERS BANGALORE When the bear baron Vijay Mallya started a new airline, he named it Kingfisher, presumably to promote his beer brand.
[Show full text]
Beer and Spirits)
Success story of Billionaire & Business Tycoon Vijay mallya, Chairman of United Breweries Group, Kingfisher Airlines, Force India F1 Team, Royal Challengers, East Bengal FC ..... Born on 18 December 1955 (1955-12-18) in Kolkata, India Occupation Chairman of : United Breweries Group, Kingfisher Airlines, Force India F1 Team, Royal Challengers Bangalore & East Bengal FC Education Degree in Commerce form Kolkata University Dr. Vijay Mallya is a Bangalore - based billionaire businessman and Member of Parliament (Rajya Sabha since 2002) from India. He is the son of a famous industrialist Vittal Mallya and is the chairman of the United Beverages Group . The UB Group is one of India's largest conglomerates with annual sales of over US$ 4 billion and a market capitalization of approximately US$ 12 billion. The Group has diverse interests in brewing, distilling, real estate, engineering, fertilizers, biotechnology, information technology and aviation. It is also the largest Indian manufacturer of beverage alcohol (beer and spirits). He also owns the Formula One team Force India, the Indian Premier League team Bangalore Royal Challengers, and the I-League team East Bengal FC Personal life Mallya born in a Konkani Gaud Saraswat Brahmin family originally from the town of Bantwal (near Mangalore) in Karnataka. He is the son of Vittal Mallya and Lalitha Ramaiah. He was educated at La Martiniere Boys' College, Kolkata and completed his degree at St. Xavier's College, Calcutta under Calcutta University. He was awarded an honorary Doctorate in Business Administration by the California Southern University Career Mallya worked for the American Hoechst Corporation (now Sanofi-Aventis) in the US and with Jenson & Nicholson in the UK.
[Show full text]
The United Breweries Group
The United Breweries Group Based in Bangalore, it is a conglomerate of different companies with a major focus on the brewery (beer) and alcoholic beverages industry. The company markets most of its beer under the Kingfisher brand and has also launched Kingfisher Airlines, an airline service in India, with international flights operating recently. It is also present in the sporting industry by the way of buying a team in the Indian Premier League (cricket) from their hometown i.e. Bangalore by the name of Bangalore Royal Challengers. The group has also made India’s first team entry into Formula One by being the joint owner team Force One (India’s first-ever Formula One Team) with the Netherlands based Mol Family. United Breweries is India's largest producer of beer with a market share of around 48% by volume. The group is a multi-faceted conglomerate with business interests in Beverage Alcohol, Pharmaceuticals, Media, International Trading, Aviation, Fertilizer, Research & Development, and Infrastructure Development. After Vittal Mallya's death in 1983, his son Vijay Mallya assumed the mantle of the group. Vijay Mallya inducted professional management and consolidating the Group into individual operating divisions. In 1988, UB Group acquired the global Berger Paints Group with operating companies across four continents. The paints business was divested for significant value in 1996. After India adopted economic liberalization in 1991, the UB Group decided to retain interests in only those businesses that were globally competitive and did not depend upon fiscal tariff protection. Today, UB Group is the third largest manufacturer of Spirits products in the world.
[Show full text]
Vijay Mallya Diverted Rs 3700 Crore Bank Loan Funds to F1
Vijay Mallya diverted Rs 3,700 crore bank loan funds to F1, IPL: ED The ED also alleged that Mallya and other airline officials "hatched a criminal conspiracy for obtaining/sanctioning of bank loan to Ms KAL in gross violations of established procedures and the firm had no intention for repayment of the loan". The King of Good Times-turned-fugitive Vijay Mallya has had a terrible run of bad luck in the past few years, from being declared a wilful defaulter to now fighting an extradition battle in the UK. But if he thought things could not possibly get any worse, he was wrong. According to NDTV, he has now become the first person to be tried under the new Fugitive Economic Offenders Ordinance, which was promulgated by President Ram Nath Kovind in April. The development follows a fresh chargesheet filed against Mallya by the Enforcement Directorate (ED) yesterday. In the voluminous prosecution complaint filed before a special Mumbai court under the Prevention of Money Laundering Act, the agency charged Mallya and his firms, Kingfisher Airlines Limited (KAL) and United Breweries Holdings Limited (UBHL), of fraudulently "diverting" over Rs 3,700 crore bank loan funds to a UK-based F1 motorsport firm, a T20 Indian Premier League (IPL) team and for enjoying private jet sorties. According to officials, the chargesheet revolves around a complaint received from the State Bank of India on behalf of a consortium of banks accusing Mallya of causing them a loss of Rs 6,027 crore by defaulting on loans taken during 2005-10. The ED had filed an FIR in the case in August 2016, after going through a CBI FIR.
[Show full text]
A Customer Centric Brand Analysis of Ipl Using Brand Molecule Tool
International Journal of Management (IJM) Volume 7, Issue 5, July–Aug 2016, pp.58–66, Article ID: IJM_07_05_005 Available online at http://iaeme.com/Home/issue/IJM?Volume=7&Issue=5 Journal Impact Factor (2016): 8.1920 (Calculated by GISI) www.jifactor.com ISSN Print: 0976-6502 and ISSN Online: 0976-6510 © IAEME Publication A CUSTOMER CENTRIC BRAND ANALYSIS OF IPL USING BRAND MOLECULE TOOL Akanshu Verma Production & Industrial, IIT Delhi, New Delhi, India Ankit Mandawat Textile Technology, IIT Delhi, New Delhi, India Rachit Kuchhal Textile Technology, IIT Delhi, New Delhi, India, Robin Jindal Production & Industrial, IIT Delhi, New Delhi, India ABSTRACT This paper through an explorative research and metaphorical use of a molecule, determines the various factors that exists in regards to the brand “IPL”. The paper also compare the results with the dimensions which have already been used by practitioner led sources to measure the same construct. This analysis helps one to achieve greater insight into the branding process. According to American Appraisal report “Clearing The Fence with Brand Value”, the brand value of IPL has been estimated to be US$3.2 billion in 2014. The league has been tipped to rival the likes of the English Premier League in the near future. Increasing internet as well as TV penetration and increasing per capita income of the large and cricket frenzy Indian population is likely to fuel the growth of IPL as a brand in the coming future. As a part of this paper we have developed an understanding of brand value of IPL using brand molecule tool.
[Show full text]
Indian Premier League
Indian Premier League From Wikipedia, the free encyclopedia Indian Premier League Countries India Administrator BCCI Format Twenty20 First tournament 2008 Next tournament 2013 Tournament format Double round-robin andplayoffs Number of teams 9 Current champion Kolkata Knight Riders (1st Title) Most successful Chennai Super Kings (2 Titles) Qualification Champions League Twenty20 Most runs Suresh Raina(2254,Chennai Super Kings)[1] Most wickets Lasith Malinga (83, Mumbai Indians)[2] Website iplt20.com 2013 Indian Premier League Chennai Super Kings playing against Kolkata Knight Riders at the M.A. Chidambaram Cricket Stadium in the 2008 Indian Premier League Delhi Daredevils Vs Kings XI Punjab. The Indian Premier League (IPL) is a professional league for Twenty20 cricket championship in India. It was initiated by Lalit Modi , who served as the league's first Chairman and Commissioner and Board of Control for Cricket in India (BCCI), headquartered in Mumbai, Maharashtra[3][4] and is supervised by BCCI Vice President Rajeev Shukla,[5] who serves as the league's Chairman and Commissioner. It is currently contested by nine teams, consisting of players from around the cricketing world. It was started after an altercation between the BCCI and the Indian Cricket League.[6] In 2010, IPL became the first sporting event ever to be broadcast live on YouTube.[7] Its brand value is estimated to be around US$2.99 billion in fifth season.[8] However, the league has been engulfed by series of corruption scandals where allegations of cricket betting, money laundering and spot fixing were witnessed.[9][10] The Premier League is generally considered to be the world's showcase for Twenty20 cricket, a shorter format of cricket consisting only 20 overs.
[Show full text]