Indian Billionaires who went from Rich to Rags

Vijay Mallya: Vijay Mallya was once known as the "King of Good Times" for his lavish lifestyle and business empire that included Kingfisher Airlines and United Breweries. However, he fell into financial trouble in 2012 and was declared a wilful defaulter by banks. He left India in 2016 and has been fighting extradition to India to face charges of fraud and money laundering


Anil Ambani: Anil Ambani, the younger brother of Mukesh Ambani, was once one of India's richest men, with a business empire that included Reliance Communications, Reliance Power, and Reliance Capital. However, his companies faced mounting debt and he was unable to repay loans to banks. His net worth plummeted and he was forced to sell assets and downsize his business


Subrata Roy: Subrata Roy is the founder of the Sahara Group, a conglomerate with interests in real estate, media, and hospitality. In 2014, he was arrested for failing to comply with a court order to refund money to investors who had invested in a Sahara real estate scheme. He was released on bail in 2016 but was required to deposit a large sum of money with the court as a guarantee. His companies have struggled to repay debt and he has faced legal battles over the past few years


Shivinder Singh: Shivinder Singh is the former chairman of Fortis Healthcare, a healthcare services company. He and his brother Malvinder Singh were once among India's richest men, but their business empire has crumbled due to mounting debt and legal battles. Shivinder Singh was arrested in 2019 in connection with a fraud case and has been in jail since then