Thursday, February 22, 2024

Mallya’s Waterloo

Has booze baron Vijay Mallya met his match?

 

The Indian tycoon and self-proclaimed “King of Good Times” Vijay Mallya has long been lauded as a mammoth success story but finally, as he faces potential prosecution for alleged non-payment of taxes, it seems as if he may have lost his Midas touch.

 

Booze baron Vijay Mallya's empire is allegedly on the rocks
Booze baron Vijay Mallya’s empire is allegedly on the rocks

 

Effectively forced into selling a controlling stake in his United Spirits (USL) drinks empire to Diageo a month ago, Mallya also faces huge problems in his debt ridden airline business, Kingfisher Airlines. On Sunday, the airline’s head office was seized by lenders and on Monday, The Drinks Business reported that the industrialist had resigned from the board of Whyte & Mackay with immediate effect.

 

Speaking to the ESPN.co.uk sports media website though yesterday, Mallya was indignant:

 

“I come from India, I’m proud to be Indian, but I’m not proud of the Indian media. The Indian media are very irresponsible, very sensationalist and there are no libel laws so no-one is held accountable. So anybody can write whatever the hell they want. I’ve been at the receiving end of the Indian media for years and, frankly, I don’t care anymore”.

 

 

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