Wednesday, 21 November 2012

Question:How Ponty Chadha gained his business?

 A day after liquor and real estate baron Ponty Chadha and brother Hardeep died in a shootout at a Delhi farmhouse, uncertainty hangs over his massive business several thousand crores. 

Mr Chadha's father Kulwant Singh Chadha started off in the early 1960s by setting up a liquor shop at Ramnagar in Uttarakhand. Next came a sugar-crusher in Uttar Pradesh. What happened next is hazy at best but over the years, especially in the last 15 years, Mr Chadha went on to become a liquor and real estate magnate. 

The Wave Inc website puts the company's turnover at Rs. 2500 crore, but other estimates of Mr Chadha's wealth are far grander. His thriving real estate business, mostly in Uttar Pradesh, is valued at around Rs. 10,000 crore. He was the lone wholesaler for liquor in Uttar Pradesh - a Rs. 14,000-crore business as per 2011 figures. 

Another Chadha company has the sole contract for supplying midday meals under the child development scheme in Uttar Pradesh. Going by these estimates, Mr Chadha's total worth could very well be over Rs. 25,000 crore.

Mr Chadha's businesses were a family affair, run with the help of his son Manpreet and brothers Hardeep and Rajinder. With two brothers gone, the group is now left in the hands of Manpreet and Rajinder.

Manpreet is reported to be already handling the real estate business. It's the liquor business that may now be at stake. Mr Chadha ran it with an iron fist, after being made the lone liquor wholesaler for Uttar Pradesh by the Mayawati government in 2009. 

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