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. The embattled tycoon, who Indian authorities have been chasing over fraud charges, was on Tuesday arrested in London by Scotland Yard on India’s request for his extradition. The arrest comes weeks after Indian Finance Minister Arun Jaitley had indicated that Mallya’s extradition would feature in his talks during his visit to the UK. For some time, Mallaya played the system like a fiddle, helped by his added status as an MP. Until hubris got the better of him, until he tried to soar too high with his beloved Kingfisher Airline. 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.
The debt
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 worth
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...
