Today we will tell about such top Indian businessmen who were at the peak of success at one time. But due to dishonesty and fraud, he also lost fame with wealth.
Indian businessman who arrived on the floor by arrogance
It is said that time does not take long to change. Something similar happened with the celebrities who were included in the list of the top Indian businessmen of India. There was a time when he was not short of wealth. He had all the names, fame and money, but today his condition is such that people do not even like to hear his name. People hate these industrialists who cheat the people and grab the money of the country. So who are the businessmen, let us know.
Kingfisher Airlines owner Vijay Mallya was counted as a successful Indian businessman, former Rajya Sabha MP and an IPL franchise. He earned a lot of name in every field from sports to politics. But on 13 June 2016, Mallya was found guilty of a loan default of Rs 9000 crore under the Money Laundering Act (PMLA). Mallya reportedly transferred to acquire a partial stake in about 40 companies around the world. Not only this, Mallya escaped abroad by borrowing from Indian banks. He has been declared a fugitive in India. 17 Indian banks are fighting a case in a UK court to withdraw their money from him. There is talk about his India certificate.
Mehul Choksi is also considered a fugitive businessman. He is currently residing in the islands of Antigua and Barbuda. He is charged with criminal conspiracies, breach of trust and money laundering. Choksi was the owner of the retail jewelery company Gitanjali Group. It had 4,000 stores in India. An arrest warrant was issued against him in the Punjab National Bank fraud case. Choksi is alleged to have committed fraud of $ 1.8 billion.
Renowned diamond trader Nirav Modi was found guilty of criminal conspiracy, corruption, money laundering, fraud and breach of contract from August 2018 by Interpol and the Government of India. PNB had filed a fraud case of Rs 28,000 crore on Modi. Modi was sued by a California entrepreneur for two custom diamond engagement rings for $ 4.2 million, which used to work in lab diamonds. Nivar Modi is currently in Britain. On June 8, 2020, the Prevention of Money Laundering Act (PMLA) court ordered forfeiture of approximately Rs 1,400 crore of Modi’s assets.
Satyam Computers used to be a highly successful IT firm in the 90s. During the tenure of Ramalinga Raju, the former president and CEO of the company, there was a big scam in it. Raju resigned from the board after the Satyam scam. It is alleged that he embezzled Rs 7,140 crore. Raju himself confessed to cheating. Satyam was bought by Tech Mahindra in April 2009 and has since been renamed Satyam.
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