Once upon a time, the fame of these industrialists was more than Adani-Ambani, today they are on the verge of ruin, both money and name are sinking.

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Ranbexy promoters Malvinder Singh and Shivinder Singh were among the big industrialists in the pharma sector. He was seen as an icon of Indian success abroad. In 2015, he was ranked 35th in the list of the richest people of the country. The combined net worth of both the brothers was $2.5 billion. But, in 2016 the company had a debt of about Rs 13 thousand crores. Actually, Ranbexy sold its stake to a Japanese company in the year 2008. The company invested the money received from this wrongly. Hence, not only did his business fail, he also became infamous.

Who does not know Vijay Mallya, famous as King of Good Times? His party photo surrounded by beautiful girls has always attracted people’s attention. He was the owner of big and famous companies like Kingfisher Airlines, United Spirit, Mangalore Chemicals and Fertilizers and Berger Paints. He took a loan of about Rs 9 thousand crore from 17 banks of the country. After this, he defaulted and fled the country. The government has so far auctioned many of their properties.

Mehul Choksi, owner of Gitanjali Jewelery has been declared a fugitive by the Government of India. At one time Gitanjali Jewelery had more than four thousand stores across the country. His net worth was five thousand crores. Their scam came to light in 2018. He, along with his nephew, had committed a scam of Rs 13.5 thousand crore in PNB Bank. At present he has assets worth Rs 23 crores left.

Nirav Modi is the nephew of Mehul Choksi. He is considered the mastermind of the PNB scam. Currently he is in the custody of London Police. There are serious allegations against him, ranging from money laundering to harassing government employees. Today they have a debt of more than Rs 30 thousand crores.

Yes Bank founder and managing director Rana Kapoor was once the owner of crores of rupees. However, nowadays he is in jail. While he was in the bank, a loan of Rs 30 thousand crore was given. In this, Rs 20 thousand crores were converted into bad loans i.e. loans which can never be returned. Due to this the bank had reached the state of poverty. Bank shares fell such that they have not been able to recover till date.

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