The Rise and Fall of Vijay Mallya

The case discusses the rise and fall of Indian liquor baron Vijay Mallya (Mallya) who successfully expanded the business empire he inherited from his father and transformed it into a global conglomerate with diverse interests. Touted as India’s most flamboyant and high-profile businessman, Mallya believed in living life king size. The case discusses Mallya’s entrepreneurial journey and how he strengthened his business empire by moving into new areas while consolidating his existing businesses. However, Mallya’s foray into the aviation sector with his airline service, the Kingfisher Airlines (KFA), was a big misstep. His fortunes came tumbling down in 2012 when the airline was grounded leaving thousands of workers unemployed and more than Rs. 70 billion in unpaid loans. Mallya was declared as a wilful defaulter and had the banks, regulators, and the Indian judiciary after him. Thereafter, he fled to London and the Indian government is seeking his extradition. The case concludes by discussing the various possibilities in the Mallya case: Should Mallya be given a fair opportunity to settle the loan-default issues with banks? Will he be able to endure the bad phase and bounce back or is it the end of the road for him?