Vijay Mallya, who has been an economic offender and a fugitive Indian businessman tag against his name for the past decade, was once known as a great entrepreneur and lived a life of glamour. He was often dubbed the "King of Good Times,". He built a business empire spanning sectors including spirits, sports teams, and aviation. Today, He resides in the United Kingdom, facing relentless extradition efforts by the Indian government over charges of massive financial fraud and money laundering.
Today, October 20, is a landmark day in Mally’s journey as it marks a dramatic turning point in his extraordinary rise and catastrophic fall.
October 20: The End of the Road For Kingfisher Airlines
On October 20, 2012, the aviation regulator, the Directorate General of Civil Aviation (DGCA), suspended the operating license of Kingfisher Airlines. The Airline began as a luxury service air carrier and had succumbed to a severe financial crisis. The closure drew strikes from employees over unpaid salaries and frequent flight disruptions. The revocation of its permit ensured that the once-celebrated fleet would never take to the skies again.
By the time Kingfisher Airlines permanently shut its operations, it owed between Rs 7,000–9,000 crore to many Indians private and public sector lenders. Mallya’s inability to repay these debts marked the definitive shift in his public image—from the successful entrepreneur known as "King of Good Times" to a designated fugitive economic offender.
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Empire on Bold Ambitions
Mallya’s journey into corporate prominence began in 1983 following the sudden death of his father, Vitthal Mallya. At just 28 years old, Vijay took the helm of the United Breweries (UB) Group and transformed Kingfisher into a globally recognised brand. Expanding his footprint beyond beverages, he acquired a Formula One racing team (Force India), a high-profile Indian Premier League franchise (Royal Challengers Bangalore), and eventually earned a seat as a Member of Parliament in the Rajya Sabha.
Unravelling the Crown and the Flight to London
The turning point came in 2005 with the launch of Kingfisher Airlines. With an Intention to offer an unprecedented luxury experience in Indian skies. However, the airline encountered turbulence a few years after hitting the market due to skyrocketing fuel prices and the global economic recession. It resulted in mounting losses and debt.
In March 2016, after lending institutions began intensifying legal action and authorities prepared to issue lookout notices, Mallya quietly left India overnight for London. He has been declared a fugitive economic offender by Indian courts; Mallya remains in the UK while complex legal proceedings continue to delay his extradition back to India.