Indian businessmen who fell from riches to rags include Vijay Mallya, Mehul Choksi, Nirav Modi, Subrata Roy, Anil Ambani, and Siddhartha.
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Mallya owned businesses in aviation, liquor, and technology, but his businesses failed when Kingfisher Airlines couldn't pay back loans.
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Choksi owned Gitanjali Gems, but fled India after being implicated in the Punjab National Bank fraud case.
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Modi owned Firestar Diamonds, but fled India after being implicated in the Punjab National Bank fraud case.
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Roy owned the Sahara Group, but was arrested in 2014 for failing to pay back debts.
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Ambani owned Reliance Group, but experienced a debt crisis and had to sell off assets. He was later arrested for failing to pay off debts.
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Siddhartha owned Cafe Coffee Day, but his businesses crumbled and he died in 2020, reportedly due to financial stress.
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These examples show that success can be precarious and financial management is important.
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Many of these individuals fled the country or were arrested in relation to financial crimes.
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These stories serve as cautionary tales for other businesspeople and highlight the importance of financial responsibility.
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