When Vijay Mallya had to deposit his Ferrari for $5000

These days “the king of Good times” is facing a wrath in his own country. From losing his airline company to being on a verge of getting arrested for being a fraud. Vijay Mallya will soon see all the ups and downs. Reported to be running from India government and hiding in London, United Kingdom the king of good times is no more making it large.

This story about him is something which will make you feel what a crafty and cunning guy Doctor Mallya really is. He very well knows and understand how the market really works.

 

Once Vijay Mallya walks into the New York City bank and asks for the loan officer. He tells the Loan Officer that he was going to India for some business for 2 weeks and needs to borrow $5,000. Not knowing who Vijay Mallya was the Loan Officer tells him that the bank will need some form of security for the loan. So, Vijay Mallya hands over the keys and the documents of a new Ferrari car parked on the street in front of the bank.

 

The loan officer consults the president of the bank, produces all the required documents and everything checks out to be fine. The loan officer agrees to accept the car as a security for the loan. The bank president and the Loan Officer had a good laugh at the Indian for keeping a $750,000 Ferrari as a security and taking only $5,000 as a loan. An employee of the bank then drives the Ferrari into the banks underground garage and parks it there.

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Two weeks later Mallya returns and pays $5000 and the interest which comes to it $15.41. Seeing this, loan officer says, “Sir, we are very happy to have your business and this transaction has worked out very nicely, but we are a little puzzled. While you are away, we checked you out and found out that you were a multi millionaire. What puzzled us was why would you bother to borrow $5000?”

Doctor Mallya replies “Where else in the New York City can I park my car for 2 weeks and for only $15.41 and expect it to be there when I return”. 

This true story is enough to digest that Vijay Mallya really knows what he is getting into, not caring about the world he lives his life and maybe such an approach towards life has made him a ruthless businessman who doesn’t even care about his employees.

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Mukul Pathak

Mukul Pathak

Witty, Sarcastic, ComicaFAN, Innovative, Maniac. Co-founder, Pikapost Twitter - @iamMukulP Instagram - mukulified

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