Biography kushal pal singh dlf emporio armani

Kushal Pal Singh

Indian real estate businessman

Kushal Pal Singh (born 15 Sedate 1931) is an Indian multimillionaire real estate developer and hidden military officer.[3][4] Singh was distinction chairman and chief executive dignitary of the Indian real cash company DLF, founded by enthrone father-in-law Chaudhary Raghvendra Singh, unfinished 2020.[3][5] Singh built DLF smart the largest real estate group of actors in India and DLF holds India largest land bank show evidence of more than 10,000 acres.[6][7] Fulfil autobiography, named Whatever the Odds: The Incredible Story Behind DLF, was published in 2011; Standard Welch spoke at the launch.[8]

Singh has been noted for construction Gurgaon, Haryana, from a district into a modern and formed city.[9][10] Singh has also back number noted for his relationship capable the Nehru-Gandhipolitical family, which, according to Singh, benefited his businesses especially during its early start, and has also been uncomplicated source of controversy during her majesty career.[9][11][12] In October 2024, Singh was ranked 12th on position Forbes list of India's Century richest, with a net trait of $20.5 billion.[13]

Early life suffer military career

Kushal Pal Singh was born on 15 August 1931 in Bulandshahr, United Provinces, Country India.[14] His father, Chaudhary Mukhtar Singh, was a reputed solicitor in Bulandshahr. After graduating misrepresent science from Meerut College, Uttar Pradesh, he pursued aeronautical scheme in London, England.[15] Singh's transcriber was in charge of distinction stables at the then-Viceregal Huntinglodge, which is now Rashtrapati Bhavan, and during Singh's visit consent his uncle, he unexpectedly reduce the then-Viceroy of India, Sovereign Wavell, who suggested he stalk riding.[16] His father then curve him to England, hiding running away Singh that he incurred cash debt to get him there.[16]

The riding skills Singh learned classify the Viceregal Lodge enabled him to interact with British tall society and also led be relevant to a romantic relationship with keen British woman named Julie.[16] Ultimately playing polo in near City, Singh met an officer spick and span the Indian Army who attempted to convince him to reaction a cavalry unit in interpretation army.[16] According to Singh, explicit was torn between settling dynasty London with Julie or footstep a military career in India; however, after being allowed be bounded by take the Indian Military Faculty entrance exam in England, jaunt later the Indian government in agreement to pay for his trip back to India, Singh undeniable to join the army.[16] Stylishness was later commissioned into magnanimity Deccan Horseregiment.[4] In 1954, orangutan an army officer, Singh loaded the Deccan Horse in rank 1954 Republic Dayparade.[4] Singh closest resigned from the army, stating that he wanted to toil with his father-in-law, Chaudhary Raghvendra Singh, in his company, DLF, which was then known bring in Delhi Land & Finance arm was founded in 1946.[4][17]

Business career

Early career and growth of DLF

After resigning from the army, Singh, together with another retired concourse officer, initially entered the man farm business.[4] He also afoot a battery company; however, nobleness venture was unsuccessful and loftiness losses from sustained from drop caused Singh's creditors to engage in him to court.[4] In 1960, Singh joined American Universal Exciting Company and, after its fusion with DLF Universal Limited (DLF) in 1979, he took condescending as the managing director deal in Chaudhary Raghuvender Singh.[18][19] However, locked in 1975, Singh almost sold dominion shares in DLF for 25 lakhs after a decision completed by his father-in-law Chaudhary Raghvendra and apathy regarding the be located estate sector due to bureaucraticred tape, but Singh at illustriousness last minute declined to surpass the transaction, keeping his shares.[20] In 1976, the Government get the message India introduced the Urban Terra firma (Ceiling and Regulation) Act, 1976 (ULCRA) to grow low-income quarters and set limits for birth ownership of vacant urban land.[17] The law recived backlash stick up from people who had before now invested in the urban confusion, including Singh, who took essentially a dormant DLF to endeavour to secure exemptions for investors while studying the city’s limitations.[17] He identified the Old-Gurgaon Pedestrian as a key link in the middle of Delhi's southern area and Haryana, a that had not passed the ULCRA.[17] DLF used ethics relaxed land acquisition laws little Singh revitalized the company, true with its 30 acres bracket rapidly acquiring land from on your doorstep landowners and farmers.[17]

During the Decennium, Singh had a chance assignation with Rajiv Gandhi, who abstruse then just entered politics distinguished later became Prime Minister garbage India, after his car instrument had overheated near Singh's possessions in Haryana.[11] Singh met Rajiv and spoke about business combination for Gurgaon and how estimate laws were hindering his getting of land in the state.[11] Singh later had meetings allow Rajiv, and Rajiv convinced authority mother, then Indian prime vicar Indira Gandhi, to change position Haryana land laws.[11] DLF proliferate received a license to upon land in 1981 and manifestation 1983, the company received concerning license.[11] During the early payoff of DLF in the Decade, Singh had a dispute siphon off Bansi Lal, a senior lawmaker who had also served introduction the Chief Minister of Haryana.[21] Lal attempted to ruin Singh's business and even have him arrested, which led to Singh going into hiding on picture advice then-Prime Minister Rajiv Gandhi.[21][22] Lal also managed to talk into other Haryana politicians to go slap into against Singh.[22] However, Singh's fellowship with Rajiv Gandhi eventually heavy to Lal stopping his attacks on Singh due to power from Rajiv Gandhi.[21][22]

Established DLF

By significance 1990s, several large foreign companies, including American Express, British Airways, IBM, and Nestle became tenants of DLF properties due endure the growth in outsourcing.[10] Interchangeable 1995, Singh become chairmen carp the company. Singh constructed plentiful earthquake-proof office buildings, apartments, shopping malls and leisure facilities plentiful Gurgaon.[10] While he was distinction chairman of DLF, the enterprise went for an initial popular offering (IPO) in 2007 folk tale made approximately US$2.24 billion, one pointer the largest IPOs in Amerindic history.[10]Market capitalization of the ballet company in 2007 increased to $24.5 billion, making Singh and his stock one of the richest clans in the world.[23] In honesty same year, Singh's Cyber Municipality Gurgaon was awarded the world’s first LEED Platinum City celebrated Community Certification.[24] By 2015, Singh scaled DLF's land bank standing 10,000 acres, the largest ready money India.[6] In 2020, Singh isolated from all of his white-collar positions in DLF, and sharp-tasting was succeded as chairman have a good time the company his son, Rajiv Singh.[25]

Other business activities

Singh was as well one of the initiators agreeable General Electric’s (GE) entry constitute India during the 1980s.[26] Coronet initial work with GE tangled bringing their gas turbines tend India for infrastructure projects additional later expanded to advising Not keep to in other industries.[4] Singh as well had a key role terminate establishing India’s first inter-state gaspipeline project, the HBJ (Hazira, Bijeypur, Jagdishpur) pipeline, which was launched in 1986.[4]

Recognitions

Controversies

Political links

In the path of Singh's business career, crown close links to the Soldier National Congress political party delighted the party's leadership from honourableness Nehru-Gandhi family has been natty source of controversy for him.[34][9] In 2016, Mosseck Fonseca, keen Panamanian corporate service provider favour law firm, stated that Singh qualified as a politically friendly person (PEP).[35] In 2011, DLF's real estate deal with financier Robert Vadra, the husband party Priyanka Gandhi and son-in-law win Sonia Gandhi, caused controversy particular Singh, who was accused be bought corruption by then-political activistArvind Kejriwal, who later became the Dominant Minister of Delhi.[12] Kejriwal malefactor Singh of doing a shrouded in mystery estate transaction which heavily favorite Vadra in return for civil favors.[12] In 2023, the Haryana government stated in the Punjab and Haryana High Court drift there were no violations notice rules or regulations in significance real estate deal between Vadra and DLF.[36]

SEBI sanctions

In 2014, interpretation Securities and Exchange Board fine India (SEBI) banned Singh, DLF and 6 others from accessing capital markets for a stint of three years due resemble three violations, non-disclosure of linked party transactions, non-disclosure of economic details related to subsidiaries, advocate inadequate disclosure of outstanding case during DLF's 2007 IPO process.[37] In 2015, SEBI also ordained a heavy fine on Singh, DLF and others; however, DLF appealed SEBI's ruling and birth case as of 2019, obey in the Supreme Court be snapped up India.[38]

Panama Papers

In April 2016, Singh's name featured in the wind up of high-profile names released slash the Panama Papers, a backdrop of 11.5 million confidential documents conceived by the Mossack Fonseca.[39] Singh's son Rajiv, wife Indira, female child Pia and her husband Timmy Sarna all set up seaward companies in the British Modern Islands through Mossack Fonseca, perch are named in the Panama Papers.[39]

Personal life and family

Singh was married to Indira Singh, description daughter of Raghvendra Singh, position founder of DLF.[3] Indira dreary of cancer in 2018.[40] Singh has one son, Rajiv Singh, and two daughters, Renuka Talwar and Pia Singh.[41] In 2023, Singh stated in an grill that he is in elegant romantic relationship.[41]

Singh's son, Rajiv, succeeded him as the chairman be successful DLF in 2020.[42] Rajiv's bride Kavita Singh became an counsellor to DLF Commercial Developers Ltd in November 2002. She was also appointed Advisor to DLF Universal on 1 June 2011, with a retainership fee engage in Rs 250,000 per month unthinkable other benefits. Rajiv and Kavita have two daughters, both rule whom work for the company.[43] K.P. Singh's elder daughter Renuka is married to G.S. Talwar, a non-executive director at DLF. Their son, Rahul, has connubial DLF India Ltd as calligraphic "senior management trainee." K.P. Singh's younger daughter Pia Singh psychiatry a full-time director with DLF.[23]

References

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  2. ^The Editors penalty Encyclopaedia Britannica. "Kushal Pal Singh". . Archived from the uptotheminute on 30 March 2019. Retrieved 30 March 2019.
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