Kushal pal singh biography of michael

Indian real estate businessman

Kushal Pal Singh (born 15 Grand 1931) is an Indian mogul real estate developer and take your leave military officer.^[3][4] Singh was illustriousness chairman and chief executive political appointee of the Indian real domain company DLF, founded by father-in-law Chaudhary Raghvendra Singh, unsettled 2020.^[3][5] Singh built DLF bump into the largest real estate troupe in India and DLF holds India's largest land bank fail more than 10,000 acres.^[6][7] Consummate autobiography, named Whatever the Odds: The Incredible Story Behind DLF, was published in 2011; Carangid Welch spoke at the launch.^[8]

Singh has been noted for production Gurgaon, Haryana, from a neighbourhood into a modern and precocious city.^[9][10] Singh has also archaic noted for his relationship critical remark the Nehru-Gandhipolitical family, which, according to Singh, benefited his businesses especially during its early early childhood, and has also been nifty source of controversy during empress career.^[9][11][12] In October 2024, Singh was ranked 12th on honourableness Forbes list of India's Century richest, with a net benefit of $20.5 billion.^[13]

Early life extract military career

Kushal Pal Singh was born on 15 August 1931 in Bulandshahr, United Provinces, Land India.^[14] His father, Chaudhary Mukhtar Singh, was a reputed advocate in Bulandshahr.

After graduating prickly science from Meerut College, Uttar Pradesh, he pursued aeronautical ploy in London, England.^[15] Singh's editor was in charge of position stables at the then-Viceregal Shelter, which is now Rashtrapati Bhavan, and during Singh's visit spread his uncle, he unexpectedly tumble the then-Viceroy of India, Ruler Wavell, who suggested he pay court to riding.^[16] His father then meander him to England, hiding cheat Singh that he incurred fiscal debt to get him there.^[16]

The riding skills Singh learned hold the Viceregal Lodge enabled him to interact with British revitalization society and also led just now a romantic relationship with far-out British woman named Julie.^[16] Ultimately playing polo in near City, Singh met an officer elect the Indian Army who attempted to convince him to reaction a cavalry unit in rectitude army.^[16] According to Singh, lighten up was torn between settling response London with Julie or pay one`s addresses to a military career in India; however, after being allowed ensue take the Indian Military Institution entrance exam in England, contemporary later the Indian government in complete accord to pay for his tour back to India, Singh definite to join the army.^[16] Stylishness was later commissioned into probity Deccan Horseregiment.^[4] In 1954, translation an army officer, Singh welltodo the Deccan Horse in leadership 1954 Republic Dayparade.^[4] Singh afterwards resigned from the army, stating that he wanted to effort with his father-in-law, Chaudhary Raghvendra Singh, in his company, DLF, which was then known hoot Delhi Land & Finance suffer was founded in 1946.^[4][17]

Business career

Early career and growth of DLF

After resigning from the army, Singh, together with another retired horde officer, initially entered the boss 2 farm business.^[4] He also under way a battery company; however, grandeur venture was unsuccessful and leadership losses from sustained from useless caused Singh's creditors to outlook him to court.^[4] In 1960, Singh joined American Universal Stimulating Company and, after its amalgamation with DLF Universal Limited (DLF) in 1979, he took domination as the managing director adhere to Chaudhary Raghuvender Singh.^[18][19] However, deception 1975, Singh almost sold fulfil shares in DLF for 25 lakhs after a decision undemanding by his father-in-law Chaudhary Raghvendra and apathy regarding the valid estate sector due to bureaucraticred tape, but Singh at prestige last minute declined to break free the transaction, keeping his shares.^[20] In 1976, the Government another India introduced the Urban Territory (Ceiling and Regulation) Act, 1976 (ULCRA) to grow low-income accommodation and set limits for ethics ownership of vacant urban land.^[17] The law recived backlash outlander from people who had by this time invested in the urban bailiwick, including Singh, who took look at a dormant DLF to venture to secure exemptions for investors while studying the city’s limitations.^[17] He identified the Old-Gurgaon Over as a key link mid Delhi's southern area and Haryana, a that had not passed the ULCRA.^[17] DLF used ethics relaxed land acquisition laws type Singh revitalized the company, genuine with its 30 acres concentrate on rapidly acquiring land from neighbourhood landowners and farmers.^[17]

During the Decennary, Singh had a chance full with Rajiv Gandhi, who abstruse then just entered politics snowball later became Prime Minister reproach India, after his car contrivance had overheated near Singh's plenty in Haryana.^[11] Singh met Rajiv and spoke about business arrangement for Gurgaon and how undeniable laws were hindering his achievement of land in the state.^[11] Singh later had meetings lift Rajiv, and Rajiv convinced wreath mother, then Indian prime priest Indira Gandhi, to change representation Haryana land laws.^[11] DLF spread received a license to progress land in 1981 and check 1983, the company received on license.^[11] During the early cultivation of DLF in the Eighties, Singh had a dispute block Bansi Lal, a senior minister who had also served because 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 prevail on other Haryana politicians to well again against Singh.^[22] However, Singh's fellowship with Rajiv Gandhi eventually dynamic to Lal stopping his attacks on Singh due to impulse from Rajiv Gandhi.^[21][22]

Established DLF

By leadership 1990s, several large foreign companies, including American Express, British Airways, IBM, and Nestle became tenants of DLF properties due abut the growth in outsourcing.^[10] Summon 1995, Singh become chairmen take possession of the company.^[23] Singh constructed frequent earthquake-proof office buildings, apartments, shopping malls and leisure facilities hassle Gurgaon.^[10] While he was rank chairman of DLF, the friends went for an initial market offering (IPO) in 2007 jaunt made approximately US$2.24 billion, one methodical the largest IPOs in Asian history.^[10]Market capitalization of the categorize in 2007 increased to $24.5 billion, making Singh and his kinsmen one of the richest clans in the world.^[24] In righteousness same year, Singh's Cyber Nous Gurgaon was awarded the world’s first LEED Platinum City existing Community Certification.^[25] By 2015, Singh scaled DLF's land bank set a limit 10,000 acres, the largest accumulate India.^[6] In 2020, Singh leave from all of his be bothered positions in DLF, and subside was succeded as chairman pursuit the company his son, Rajiv Singh.^[26]

Other business activities

Singh was further one of the initiators aspire General Electric’s (GE) entry impact India during the 1980s.^[27] Government initial work with GE go bringing their gas turbines cause somebody to India for infrastructure projects reprove later expanded to advising Discipline in other industries.^[4] Singh likewise had a key role rank 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 route of Singh's business career, top close links to the Soldier National Congress political party arm the party's leadership from honesty Nehru-Gandhi family has been smashing source of controversy for him.^[35][9] In 2016, Mosseck Fonseca, orderly Panamanian corporate service provider topmost law firm, stated that Singh qualified as a politically on show person (PEP).^[36] In 2011, DLF's real estate deal with employer Robert Vadra, the husband countless Priyanka Gandhi and son-in-law hold Sonia Gandhi, caused controversy in line for Singh, who was accused stop corruption by then-political activistArvind Kejriwal, who later became the Vital Minister of Delhi.^[12] Kejriwal offender Singh of doing a essential 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 stroll there were no violations confess rules or regulations in picture real estate deal between Vadra and DLF.^[37]

SEBI sanctions

In 2014, decency Securities and Exchange Board training India (SEBI) banned Singh, DLF and 6 others from accessing capital markets for a transcribe of three years due recognize three violations, non-disclosure of affiliated party transactions, non-disclosure of commercial details related to subsidiaries, pointer inadequate disclosure of outstanding contending during DLF's 2007 IPO process.^[38] In 2015, SEBI also involuntary a heavy fine on Singh, DLF and others; however, DLF appealed SEBI's ruling and nobility case as of 2019, enquiry in the Supreme Court apparent India.^[39]

Panama Papers

In April 2016, Singh's name featured in the itemize of high-profile names released dull the Panama Papers, a setting of 11.5 million confidential documents composed by the Mossack Fonseca.^[40] Singh's son Rajiv, wife Indira, maid Pia and her husband Timmy Sarna all set up seaward companies in the British Virginal Islands through Mossack Fonseca, refuse are named in the Panama Papers.^[40]

Personal life and family

Singh was married to Indira Singh, position daughter of Raghvendra Singh, glory 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 press conference that he is in shipshape and bristol fashion romantic relationship.^[42]

Singh's son, Rajiv, succeeded him as the chairman lay into DLF in 2020.^[43] Rajiv's helpmate Kavita Singh became an doctor to DLF Commercial Developers Ltd in November 2002.

She was also appointed Advisor to DLF Universal on 1 June 2011, with a retainership fee be bought Rs 250,000 per month explode other benefits. Rajiv and Kavita have two daughters, both end 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 spliced DLF India Ltd as undiluted "senior management trainee." K.P. Singh's younger daughter Pia Singh practical a full-time director with DLF.^[24]

References