Vijay Mallya Became 'Insolvent', Was 'Broke' And Depended On His Partner, Children, And Others

Once the King of 'Good Times', Vijay Mallya became insolvent and started depending on his family and acquaintances for his living expenses.

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By Priyanka Dutta Last Updated:

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Vijay Mallya Became 'Insolvent', Was 'Broke' And Depended On His Partner, Children, And Others

Once the king of 'Good Times', Vijay Mallya grabbed all the headlines back in 2016 and 2017 for all the wrong reasons. The former business tycoon and the Indian fugitive, Vijay was charged with a fraud of Rs. 9000 crore. And soon after tagging himself as bankrupt, he moved to London. In his personal life, he was married twice, and he is the father of four kids. Apart from that, Vijay was also reportedly going to marry Pinky Lalwani back in 2018. However, the former business tycoon had become insolvent and lived off his partner, adult children, personal assistant, and a business acquaintance.

When Vijay Mallya became insolvent and lived off his partner, Pinky Lalwani, and adult children

In 2019 reports were rife that the former businessman tycoon, Vijay Mallya had gone insolvent. In response to a bankruptcy petition from 13 Indian banks, which was presented to him back in September 2018, Mallya had mentioned in a London court that he was insolvent and broke and was dependent on his partner and children. Vijay said that they 'are supporting him' for his living expenses. 

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Vijay

Kingfisher’s scion, Vijay also added that he had only Rs. 3000 crore left in his personal assets, and the same amount he had to put in the Karnataka High Court to make a settlement offer. According to the Indian banks, back then, Vijay Mallya's partner/wife, Pinky Lalwani earned a whopping Rs. 1.35 crore annually. For the unversed, Pinky Lalwani was employed in Kingfishers airline as an air hostess.

Vijay Mallya and Pinky Lalwani

Vijay Mallya's PA and business acquaintance helped him with whopping amounts for living expenses

According to a report by The Times Of India, Vijay Mallya owed a sum of Rs. 11,000 crore back then to 13 Indian banks. The representative, Nigel Tozzi QC, in his submissions, had mentioned that the business tycoon received Rs. 75.7 lakh from his personal assistant. Vijay also reportedly received Rs. 1.15 crore from a business acquaintance, Mr Bedi, for living expenses and for the amount of money that he owed to Inland Revenue.

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Vijay Mallya with Pinky Lalwani

Vijay Mallya was willing to give up on his living allowances 

On the other hand, Vijay Mallya's lawyer, John Brisby QC said that the businessman wanted to give up on his weekly living allowances, which were permitted by the court from Rs 16.21 lakh a week to Rs 26.57 lakh a month. On the other hand, as reported by The Times Of India, Nigel Tozzi QC, in a hearing, mentioned that Vijay Mallya continued to live a lavish lifestyle and spent 18,000 pounds a week on living expenses. He also added that Mallya once stated that he needed to support his partner and children, but in response to the bankruptcy petition, the businessman stated otherwise and mentioned that all of them were supporting him.

What do you think about once the King of 'Good Times' becoming insolvent and living off his partner and children?

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