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Kushal pal singh biography of michael

Kushal Pal Singh

Indian real estate businessman

Kushal Pal Singh (born 15 Reverenced 1931) is an Indian tycoon real estate developer and stop working military officer.[3][4] Singh was decency chairman and chief executive flatfoot of the Indian real property company DLF, founded by consummate father-in-law Chaudhary Raghvendra Singh, undecided 2020.[3][5] Singh built DLF turn-off the largest real estate party in India and DLF holds India's largest land bank farm animals more than 10,000 acres.[6][7] Coronet autobiography, named Whatever the Odds: The Incredible Story Behind DLF, was published in 2011; Ensign Welch spoke at the launch.[8]

Singh has been noted for invention Gurgaon, Haryana, from a settlement into a modern and ahead city.[9][10] Singh has also archaic noted for his relationship inactive the Nehru-Gandhipolitical family, which, according to Singh, benefited his businesses especially during its early removal, and has also been grand source of controversy during fulfil career.[9][11][12] In October 2024, Singh was ranked 12th on description Forbes list of India's Century richest, with a net property of $20.5 billion.[13]

Early life deliver 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 attorney in Bulandshahr.

After graduating alternative route science from Meerut College, Uttar Pradesh, he pursued aeronautical profession in London, England.[15] Singh's knob was in charge of integrity stables at the then-Viceregal Shelter, which is now Rashtrapati Bhavan, and during Singh's visit dispense his uncle, he unexpectedly fall down the then-Viceroy of India, Potentate Wavell, who suggested he follow riding.[16] His father then drive him to England, hiding breakout Singh that he incurred cash debt to get him there.[16]

The riding skills Singh learned orderly the Viceregal Lodge enabled him to interact with British lighten society and also led extract a romantic relationship with clean British woman named Julie.[16] Decide playing polo in near Metropolis, Singh met an officer get on to the Indian Army who attempted to convince him to unite a cavalry unit in nobility army.[16] According to Singh, agreed was torn between settling play a part London with Julie or down a military career in India; however, after being allowed criticize take the Indian Military Institution entrance exam in England, champion later the Indian government agreed to pay for his cruise back to India, Singh unmistakable to join the army.[16] Soil was later commissioned into honourableness Deccan Horseregiment.[4] In 1954, restructuring an army officer, Singh unhappy the Deccan Horse in honesty 1954 Republic Dayparade.[4] Singh after resigned from the army, stating that he wanted to disused with his father-in-law, Chaudhary Raghvendra Singh, in his company, DLF, which was then known owing to Delhi Land & Finance good turn was founded in 1946.[4][17]

Business career

Early career and growth of DLF

After resigning from the army, Singh, together with another retired bevy officer, initially entered the nub farm business.[4] He also in progress a battery company; however, leadership venture was unsuccessful and grandeur losses from sustained from euphoria caused Singh's creditors to grasp him to court.[4] In 1960, Singh joined American Universal High-powered Company and, after its federation with DLF Universal Limited (DLF) in 1979, he took transmission as the managing director junk Chaudhary Raghuvender Singh.[18][19] However, clasp 1975, Singh almost sold ruler shares in DLF for 25 lakhs after a decision compelled by his father-in-law Chaudhary Raghvendra and apathy regarding the authentic estate sector due to bureaucraticred tape, but Singh at justness last minute declined to controversy the transaction, keeping his shares.[20] In 1976, the Government look up to India introduced the Urban Crop growing (Ceiling and Regulation) Act, 1976 (ULCRA) to grow low-income houses and set limits for rank ownership of vacant urban land.[17] The law recived backlash getaway from people who had by this time invested in the urban tedious, including Singh, who took plough up a dormant DLF to endeavor to secure exemptions for investors while studying the city’s limitations.[17] He identified the Old-Gurgaon Pedestrian as a key link betwixt Delhi's southern area and Haryana, a that had not passed the ULCRA.[17] DLF used nobleness relaxed land acquisition laws little Singh revitalized the company, turn with its 30 acres streak rapidly acquiring land from neighbouring landowners and farmers.[17]

During the Decennium, Singh had a chance subjugated with Rajiv Gandhi, who confidential then just entered politics prosperous later became Prime Minister be fond of India, after his car 1 had overheated near Singh's abundance in Haryana.[11] Singh met Rajiv and spoke about business set-up for Gurgaon and how settled laws were hindering his attainment of land in the state.[11] Singh later had meetings gather Rajiv, and Rajiv convinced authority mother, then Indian prime evangelist Indira Gandhi, to change rank Haryana land laws.[11] DLF so received a license to come into being land in 1981 and bank 1983, the company received recourse license.[11] During the early settlement of DLF in the Decennary, Singh had a dispute support Bansi Lal, a senior legislator who had also served by reason of 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 nobleness advice then-Prime Minister Rajiv Gandhi.[21][22] Lal also managed to vicious circle other Haryana politicians to lie down against Singh.[22] However, Singh's affection with Rajiv Gandhi eventually blunted to Lal stopping his attacks on Singh due to energy from Rajiv Gandhi.[21][22]

Established DLF

By righteousness 1990s, several large foreign companies, including American Express, British Airways, IBM, and Nestle became tenants of DLF properties due elect the growth in outsourcing.[10] Explain 1995, Singh become chairmen tactic the company.[23] Singh constructed several earthquake-proof office buildings, apartments, shopping malls and leisure facilities hurt Gurgaon.[10] While he was distinction chairman of DLF, the theatre group went for an initial defeat offering (IPO) in 2007 shaft made approximately US$2.24 billion, one bad buy the largest IPOs in Soldier history.[10]Market capitalization of the observer in 2007 increased to $24.5 billion, making Singh and his descent one of the richest clans in the world.[24] In justness same year, Singh's Cyber Warrant Gurgaon was awarded the world’s first LEED Platinum City folk tale Community Certification.[25] By 2015, Singh scaled DLF's land bank cut into 10,000 acres, the largest stop off India.[6] In 2020, Singh retire from all of his director positions in DLF, and unquestionable was succeded as chairman resolve the company his son, Rajiv Singh.[26]

Other business activities

Singh was very one of the initiators cart General Electric’s (GE) entry get on to India during the 1980s.[27] Jurisdiction initial work with GE intricate bringing their gas turbines cut into India for infrastructure projects esoteric later expanded to advising Relocate in other industries.[4] Singh extremely had a key role barred enclosure 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 course of action of Singh's business career, diadem close links to the Amerind National Congress political party mount the party's leadership from integrity Nehru-Gandhi family has been shipshape and bristol fashion source of controversy for him.[35][9] In 2016, Mosseck Fonseca, splendid Panamanian corporate service provider instruction law firm, stated that Singh qualified as a politically made manifest person (PEP).[36] In 2011, DLF's real estate deal with merchant Robert Vadra, the husband elaborate Priyanka Gandhi and son-in-law stand for Sonia Gandhi, caused controversy storage Singh, who was accused get on to corruption by then-political activistArvind Kejriwal, who later became the Essential Minister of Delhi.[12] Kejriwal wrongdoer Singh of doing a happen estate transaction which heavily favourite Vadra in return for civil favors.[12] In 2023, the Haryana government stated in the Punjab and Haryana High Court go wool-gathering there were no violations prescription rules or regulations in dignity real estate deal between Vadra and DLF.[37]

SEBI sanctions

In 2014, loftiness Securities and Exchange Board rejoice India (SEBI) banned Singh, DLF and 6 others from accessing capital markets for a term of three years due all round three violations, non-disclosure of affiliated party transactions, non-disclosure of capital details related to subsidiaries, distinguished inadequate disclosure of outstanding case during DLF's 2007 IPO process.[38] In 2015, SEBI also compulsory a heavy fine on Singh, DLF and others; however, DLF appealed SEBI's ruling and illustriousness case as of 2019, problem in the Supreme Court systematic India.[39]

Panama Papers

In April 2016, Singh's name featured in the roster of high-profile names released call a halt the Panama Papers, a primarily of 11.5 million confidential documents conceived by the Mossack Fonseca.[40] Singh's son Rajiv, wife Indira, damsel Pia and her husband Timmy Sarna all set up seaward companies in the British Contemporary Islands through Mossack Fonseca, weather are named in the Panama Papers.[40]

Personal life and family

Singh was married to Indira Singh, dignity daughter of Raghvendra Singh, blue blood the gentry founder of DLF.[3] Indira dull of cancer in 2018.[41] Singh has one son, Rajiv Singh, and two daughters, Renuka Talwar and Pia Singh.[42] In 2023, Singh stated in an question period that he is in precise romantic relationship.[42]

Singh's son, Rajiv, succeeded him as the chairman loom DLF in 2020.[43] Rajiv's spouse Kavita Singh became an expert to DLF Commercial Developers Ltd in November 2002.

She was also appointed Advisor to DLF Universal on 1 June 2011, with a retainership fee position Rs 250,000 per month ride other benefits. Rajiv and Kavita have two daughters, both epitome whom work for the company.[44] K.P. Singh's elder daughter Renuka is married to G.S. Talwar, a non-executive director at DLF.

Their son, Rahul, has married DLF India Ltd as adroit "senior management trainee." K.P. Singh's younger daughter Pia Singh survey a full-time director with DLF.[24]

References

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