Bad Boy Billionaires: India

Bad Boy Billionaires is a 2020 Indian Netflix original documentary anthology webseries which focuses on the lives of four prominent business magnates of India, including Vijay Mallya, Nirav Modi, Subrata Roy and Ramalinga Raju, who achieved predominant success in their businesses during their lifetime before being accused of corruption.

There were screened, Ramalinga Raju's was not released. It's hurting to know how in each of the cases, how the common men were let to suffer, with the culprits, getting richer and leaving life kingsize. 

Vijay Mallya ("The King of Good Times")

Vijay Mallya was the Pie in the sky, veritas report was brought out against him as early as 2011, that he was taking excess Bank loan from IDBI, based on brand and forecast. Epitaph of airlines was being written. Son of a rich father who was orphaned before he got grip in the industry, was like Donald Trump of India, Callous he became, wanting to have good times, he had become stone hearted.  His employees were not being paid , but he was running sports teams and other countries employees were being paid. Inspite of all loses on 18th Dec 2015 on his 60th birthday, there was a grand birthday celebration at Goa. 

Launch of aircraft 8th May, son turning 18, diversifying from the liquor business, with big dream he ended up at  Westminster magistrates  court charged with Conspiracy,  cheating and money laundering he was charged with looting bank, fleeing India and siphoning funds.

Nirav Modi ("Diamonds Aren't Forever") 

Nirav Modi reminds of Gucci and Pradas -  PNB - controlled narrative. He was finally caught in  London in 2016. Surat was the Diamond city and people there were full of praise for Nirav, unlike his uncle, Mehul Choksy from whom Nirav learned the trick of the trade.  Their business was diversification from Githanjali, in 1999 they split and formed Firestar diamond and became, Diamond king. Since 2010, they started building luxury brand, with highest auction price, purchased, Golconda piece - Rolls Royce of Diamonds - in lotus design from Honkong. Christie's auction catalogue sold it to  Taiwanees industrialist for around 3000 crore. He very well married astatic with techniques. New branches were opened in all big countries. How was it funded? Series of loans were taken from  PNB-Brady House in South Mumbai on the basis of  Letter of undertaking but without collateral, he bribed bank officials and was given free money. He was given free money and he used it for charming the charmed circle, Ami Modi was his wife who helped him do it. He lived in pent house at Samudra life. In 2014 expansion, trade was slow so he borrowed heavily, mafia's, middle east helped him do it. To boost sales, his goods were sold through shell companies in other countries  in names of his children or relatives and he sold them at inflated prices. His ambition was to be a global figure and wanted to outlive his lifetime, More than 11,300 crore were syphoned. When the news broke out, at Firestar International private Ltd., employees left half day, he became fugitive, DM Gokulnath Shetty and Manoj Karat clerk were the ones arrested. It is said that they were bribed them for 6.5 years, MK said he was set up, he did not know anything. NM moved to London Pent house at Soho street, he was caught when he was on his way to Oxford street on 20th March 2018 extradition notice was given  and he was arrested. Guy who got away, denies all wrongdoing.

Subrata Roy ("The World's Biggest Family")

Saharasri Subrata Roy like KC, started his Chit business in  1978 UP, Gorokpur, eastern up on a lambretta scooter, Chit from rural poor, he was an expert in understanding what people want pulling them into it. Sahara means Savior. In 1980 they started recruiting agents, created an idea of family called Sahara India Parivar, an example of collective Materialism, claimed to be Robinhood, married off 101 girls, they used the greetings  Sahara Pranam, Aamby valley; downfall began with questions on 60 million spend for the wedding of his 2 sons, number of deposits started depleting, there were 30 million investors as on 31st Aug 2012; 260 billion dollars was to be repaid. It was run as a private business. They were into sports, and many other things. When two of the companies went public, documents were asked for, which they were unable to provide, and when jailed, indirectly intimidating market regulator 127 trucks full of documents were send, not in order. Millions of people singing national anthem together, and acts like that showed immense sense of patriotism. He wrote and released a book when in jail and finally was released on Parole. 

All three started big, with great potential, but lacked a sense of integrity. 

मूढ़ जहीहि धनागमतृष्णाम्,

कुरु सद्बुद्धिमं मनसि वितृष्णाम्।

यल्लभसे निजकर्मोपात्तम्,

वित्तं तेन विनोदय चित्तं॥२॥

हे मोहित बुद्धि! धन एकत्र करने के लोभ को त्यागो। अपने मन से इन समस्त कामनाओं का त्याग करो। सत्यता के पथ का अनुसरण करो, अपने परिश्रम से जो धन प्राप्त हो उससे ही अपने मन को प्रसन्न रखो॥२॥

O deluded minded! Give up your lust to amass wealth. Give up such desires from your mind and take up the path of righteousness. Keep your mind happy with the money which comes as the result of your hard work.

And then comes Peri Maheshwer's post:

1. Most Indians know about Vijay Mallya. But do you know who Andhra Mallya is? Sujana Choudhury is an MP and represents BJP. He was elected from TDP in AP but switched sides.  Sujana owned three companies, all listed on BSE/NSE but delisted now under NCLT orders. 

2. Sujana Metal: The Rs.10 share was last traded at Rs.0.45. It's marketcap was 15 crores. The sales fell from Rs.1541 Crores in 2017 to Rs.16 crores in 2021. The total borrowings were  Rs.2430 crores. Losses of 2010 crores in 2017 & 2018. It is a bank defaulter. In 2019, Sujana Metals changed its name to Splendid Metals.

3. Sujana Towers: It's Ra.10 share was last traded at Rs.0.65. It has a market cap of 12 crores and stopped trading. Borrowings of Rs.2610 crores and Accumulated losses 965 crores. It is a bank defaulter and changed its name to Neueon Towers. 

4. Sujana Universal: The share price was last traded at Rs.0.30. It's Marketcap is 4.22 crores

while it's Current Liabilities are Rs.2476 Crores.  Borrowings are close to 1500 crores. It is a bank defaulter. Its shares are no longer trading. 

5. The whitewashing of money trail continues. YS Consultancy Services, Sujana Transmissions, Sujana Ports, Esteem Hotels — were all struck off from the RoC. Sujana Chowdhury was a director in all these companies. 

6. In 2017, the ED started investigating GDR issue of Rs.1500 crores raised by Sujana Group through Luxemburg route. Shell company of Sujana Group in British Virgin Islands bought the GDRs issued by Sujana group from a Portugal bank. 

7. In Nov 2018 (before the general elections in May 2019), the ED alleged a Rs 5,700 crore bank loan frauds by 120 companies controlled by Sujana Chowdary. They found rubber stamps of 128 companies at a single premises in the raids.

8. In April 2019, CBI registered 3 FIRs against Sujana group companies on complaints by 3 banks that lost Rs 364 crore. The allegation was that the company submitted fake bills to avail loans. ED also Attached 315 crores property linked to Sujana under PMLA. 

9. In May 2019, BJP romped back to power. In June 2019, Sujana decided to do what Vijay Mallya didn't - He ditched TDP and joined BJP alongwith 2 other TDP MP's.  The MPs were on ED radar, facing CBI cases and are bank defaulters or facing income tax investigation.

10. Three years into CBI/ED raids, there is silence. Shareholders lost. Banks lost. Income Tax lost. Mallya atleast offered to pay 14000 crores. This MP changed the name and disowned the companies which owe 7500 crores. Sujana is worse than Mallya.  He represents BJP and hence a patriot.