Anil Ambani, one of the top industrialists in the world, has come close to becoming a popper. He himself admitted in a UK court that he did not have the money to pay the lawyer’s fees. She is selling her precious jewelry and paying a fee. However, Anil Ambani is not the only industrialist in the country who is close to becoming a millionaire. Earlier, the founder of Cafe Coffee Day, V.G. Siddhartha, founder and former CEO of Jet Airways, Naresh Goyal, founder of Yes Bank, Rana Kapoor and former promoters of Fortis Healthcare, Malvinder Singh and Shivinder Singh are in the department. Let’s take a look at the story of these entrepreneurs from the lost to the floor.
1. Anil Ambani: Once the sixth richest person in the world
For almost 15 years from today, industrialist Anil Ambani has been among the top 10 industrialists in the country. Mukesh-Anil Ambani was the equivalent of inheriting property from his father in 2005. In 2007, Anil had assets of বিল 45 billion and Mukesh Ambani had assets of about 49 49 billion. In 2008, Anil Ambani was the sixth richest person in the world by Forbes with 42 42 billion. Above all, what happened was the end of Anil Ambani’s big business empire.
Economists say that Anil Ambani invested in many more sectors, ignoring the companies that were taken over by Anil Ambani in the split, and his company sank one by one. In 2017, for example, Reliance Communications shut down its wireless business. In May 2018, Anil Ambani decided to close the company, after which the company is in the process of insolvency. In May 2019, Reliance Capital sold its mutual fund business. In 2020, Reliance Power defaulted on Rs 685 crore. At the same time, Reliance Infra’s debt was increased by 8 148 billion. Similarly his other companies went bankrupt due to losses.
2. VG Siddhartha: A name whose identity was more than a name
KK Coffee Coffee Day owner VG Siddhartha may have forgotten who committed suicide by jumping into a river in 2019 due to 2019. VG Siddhartha, one of the most successful businessmen in India, was better known than his name. The founder of Cafe Coffee Day started the journey with five lakh rupees and owned more than one billion dollars in assets. However, he later fell into debt and committed suicide. In his suicide letter, he spoke of pressure from donors and harassment by income tax officials.
3. Naresh Goel: It was once called Aviation King
Naresh Goel, the founder of Jet Airways, was once called the King of Aviation. Goyal started Jet Airways in 1991. By this time the company had begun to advance rapidly in the aviation sector. But later Naresh Goyal’s wrong decision led the company to huge debt. In fact, Goel 200 bought Air Sahara in 2007 for Rs 1,450 crore to build Jet as the only airline to fly overseas.
‘Poor’ bought Air Saha
The decisions were then seen as the barn’s fault. Since then the company has never been free from financial difficulties. Jet Airways had about Rs 500 crore from 20 banks and Naresh Goel had to resign as chairman of the company in March. The ED is investigating the matter.
4. Rana Kapoor: Yes Bank co-promoter is now behind bars
The Enforcement Directorate (ED) recently attached Yes Bank co-founder Rana Kapoor to a London flat worth Rs 127 crore. Earlier, the ED had attached assets worth Rs 2,203 crore to Rana Kapoor under the PMLA in a money laundering case. Rana Kapoor was arrested by the Central Investigation Agency in March. He is currently in jail.
Banker travel from intern to Citibank in America
While doing his MBA in 1979, Rana started his career as an intern at Citibank, USA. He was in the IT department. Seeing the brilliance of the banking sector, the tendency of banking increased from here. He wanted to experience this field before entering the field as a businessman. There are allegations against Rana Kapoor for distributing n from Yes Bank keeping in mind his personal relationship. Yes Bank has disbursed loans to groups like Anil Ambani Group, IL&FS, CG Power, Acer Power, Essel Group, Radio Developers and Mantri Group.
5. Malvinder Singh and Shivinder Singh: Once on the Forbes list
Malvinder and Shivinder Singh, the former promoters of the legendary pharmaceutical company Ranbaxy, were jailed in 2012 after being convicted of contempt in the Japanese company Daiichi Sankio. Pharmacist Daiichi Sankio had filed a petition in the Supreme Court alleging non-payment of Rs 3,500 crore against the Singh brothers. In 2015, Forbes ranked him 35th in the rich list of India in 2015. His net worth was then estimated at $ 2.5 billion.
The story of the destruction of both brothers began in 2006
The story of the two brothers’ demise began in 2006 when they sold the Ranbaxy stake to Japanese company Daiichi Sankio for Rs 9,576 crore. Out of this, he has spent Rs 2,000 crore on debt and tax payment in 2009-10. At the same time, Rs 1,700 crore was invested in his non-banking financial institution Religar and Rs 2,230 crore in his hospital chain Fortis.