Is it right way to do Business ??

In reality, these three Indian entrepreneurs - Lalit Modi, Vijay Mallya & Nirav Modi taken India to Global, created thousands of Jobs, Leading entrepreneurs in one or few area's of their Businesses.

 But the question is: Is it right way / place to do Business !!?? why they defaulted to Banks & run away from country !?

I strongly believe Political & Govt policies drove them out of India. Media & common people are looking one side of the coin. Let’s review one by one:

Nirav Modi: established in 2010, first Indian jeweler (Firestar Diamonds)to have been featured on the covers of Christie’s and Sotheby’s Catalogues. He employed ~2000 people and dream of creating "World class Jeweler" Globally. 
  • In 2013, Mr. Nirav Modi featured on the Forbes list of Indian billionaires with net worth at $1.7 B in 2017. Gitanjali Gems of Choski net worth $ 2B owning 50% of Indian jewelry business in India.
  • Stores across Globe: New Delhi, Mumbai, New York, Hong Kong, London, MGM’s in Vegas & Maccau, Chaina. Brand was well received across the Globe. His plans to setup 100 outlets by 2025..
  • His Bro married Mukesh Ambani’s niece..
  • Claim: fraudulently obtained Letters of Undertaking worth $1.8 billion, or ₹11,400 crores & diverted them to his family owned shell companies in UK, US, Swiss, S'pore & so..
  • My comments: He was in the rapid-expansion plan and depended on Banks support. The mistake was bribing PNB staff & use it's money. Political & Senior Management At Punjab National Bank involvement must to do such activities !? Our banking system is so poor to allow like this !? 
    • US, UK, Swiss, S'pore, China are also involved & accepted the Indian money via shell companies i.e. they also part of it, right !??
    • His Indian show rooms inventory & properties worth ~6000 crores means his Global inventory is double of it. So, let the PNB recover entire amount !!
    • Watch "Bad Boy Billionaires: Diamonds are not forever" in Netflix   
Vijay Mallya: Business man & Politician, S/O Vittal Mallya. Chairman of India’s largest spirits company- United Spirits. Chairman of UB group ($1.2 B). Bayer ($45 B). His businesses spread across Fertilizers, Engineering, Spirits, IT Consulting-UBICS, Aviation & Paints.
Key features:
  • UB Group's King Fisher beer is market leader in India & across countries 
  • He started King Fisher Airlines as world class with reasonable price, with 18 aircrafts..2008
  • He also owned Formula 1 team and IPL team (B'lore Royals) 
  • Claim: Indian banks claim Rs. 9000 crores (~$1.4 B) defaulter …routed to take stake in 40 companies across Globe.
  • My comments: I think then aviation minister created problems to bring Kingfisher airways down, due to political.
    • Political, Business Competition, Black-mail drove him out of India (His UB city costs > Rs. 10 k crore)
    • In 2008, Global recession and crude prices ($120 from $48) caused huge debt to aviation business..
  • Watch "Bad Boy Billionaires: The King of Good Times" in Netflix  
Lalit Modi: from leading business family, studied in US (drug addict), 1st IPL chairman ($ 4B), VP of BCCI, Close associate of BJP leader Vasundara Raje
  • In 1990’s, started Modi Enterprises with Disney’s partnership- ESPN & Fashion TV.
  • Claim: ED files case on Irregularities in BCCI & IPL payments in 2009 at SA.
  • My comments:
    • Politically pushed him out due to IPL growth. Only irregularities...No major Money involved.

All these leaders properties are much higher than the default amounts our Banks, Media claim !!
At the same time, their process violations should be prosecuted to create awareness for others.
Avoid using negative words on these people un-less proven !!

Ravi Subramanian 's book that released last year ... Had a banking fraud story ...Where the  main fraudster was a powerful jewellery trader by the name - Nirav Choksi! The 2 main jewellers in the current PNB fraud story r Nirav Modi n Mehul Choksi!!!

Jokes/meme's on the above 3 defaulters - 





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