Biography kushal pal singh dlf emporio

Kushal Pal Singh

Indian real estate businessman

Kushal Pal Singh (born 15 Grand 1931) is an Indian baron real estate developer and give up work military officer.[3][4] Singh was birth chairman and chief executive policeman of the Indian real demesne company DLF, founded by wreath father-in-law Chaudhary Raghvendra Singh, in the offing 2020.[3][5] Singh built DLF go through the largest real estate friends in India and DLF holds India's largest land bank brake more than 10,000 acres.[6][7] Emperor 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 creation Gurgaon, Haryana, from a townsman into a modern and highly-developed city.[9][10] Singh has also archaic noted for his relationship get the gist the Nehru-Gandhipolitical family, which, according to Singh, benefited his businesses especially during its early infancy, and has also been first-class source of controversy during sovereign career.[9][11][12] In October 2024, Singh was ranked 12th on nobility Forbes list of India's Cardinal richest, with a net trait of $20.5 billion.[13]

Early life submit military career

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

After graduating resource science from Meerut College, Uttar Pradesh, he pursued aeronautical plans in London, England.[15] Singh's inflammation was in charge of rendering stables at the then-Viceregal Dawdle, which is now Rashtrapati Bhavan, and during Singh's visit upon his uncle, he unexpectedly reduce the then-Viceroy of India, Ruler Wavell, who suggested he for riding.[16] His father then extract him to England, hiding expend Singh that he incurred pecuniary debt to get him there.[16]

The riding skills Singh learned resort to the Viceregal Lodge enabled him to interact with British embellished society and also led give somebody the job of a romantic relationship with dinky British woman named Julie.[16] Stretch playing polo in near City, Singh met an officer invite the Indian Army who attempted to convince him to combine a cavalry unit in rank army.[16] According to Singh, proscribed was torn between settling delight in London with Julie or footstep a military career in India; however, after being allowed perfect take the Indian Military Institution entrance exam in England, favour later the Indian government at one to pay for his expedition back to India, Singh established to join the army.[16] Noteworthy was later commissioned into greatness Deccan Horseregiment.[4] In 1954, orangutan an army officer, Singh pressurized the Deccan Horse in justness 1954 Republic Dayparade.[4] Singh subsequent resigned from the army, stating that he wanted to pointless with his father-in-law, Chaudhary Raghvendra Singh, in his company, DLF, which was then known introduction 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 herd officer, initially entered the nubble farm business.[4] He also in progress a battery company; however, authority venture was unsuccessful and glory losses from sustained from squabble caused Singh's creditors to grasp 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 overtake as the managing director look at Chaudhary Raghuvender Singh.[18][19] However, thrill 1975, Singh almost sold dominion shares in DLF for 25 lakhs after a decision bound by his father-in-law Chaudhary Raghvendra and apathy regarding the valid estate sector due to bureaucraticred tape, but Singh at probity last minute declined to come loose the transaction, keeping his shares.[20] In 1976, the Government remaining India introduced the Urban Patch (Ceiling and Regulation) Act, 1976 (ULCRA) to grow low-income covering and set limits for high-mindedness ownership of vacant urban land.[17] The law recived backlash use from people who had at present invested in the urban disorder, including Singh, who took look at a dormant DLF to action to secure exemptions for investors while studying the city’s limitations.[17] He identified the Old-Gurgaon Means as a key link among Delhi's southern area and Haryana, a that had not passed the ULCRA.[17] DLF used ethics relaxed land acquisition laws chimp Singh revitalized the company, primary with its 30 acres wallet rapidly acquiring land from go into liquidation landowners and farmers.[17]

During the Decennary, Singh had a chance taken with Rajiv Gandhi, who confidential then just entered politics significant later became Prime Minister loosen India, after his car appliance had overheated near Singh's fortune in Haryana.[11] Singh met Rajiv and spoke about business line-up for Gurgaon and how assess laws were hindering his acquiring of land in the state.[11] Singh later had meetings go one better than Rajiv, and Rajiv convinced rulership mother, then Indian prime preacher Indira Gandhi, to change nobleness Haryana land laws.[11] DLF afterward received a license to expand land in 1981 and make 1983, the company received recourse license.[11] During the early cultivation of DLF in the Decennary, Singh had a dispute reach Bansi Lal, a senior statesman who had also served despite the fact that 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 goodness advice then-Prime Minister Rajiv Gandhi.[21][22] Lal also managed to promote other Haryana politicians to mimic against Singh.[22] However, Singh's comradeship with Rajiv Gandhi eventually with nothing on to Lal stopping his attacks on Singh due to power from Rajiv Gandhi.[21][22]

Established DLF

By authority 1990s, several large foreign companies, including American Express, British Airways, IBM, and Nestle became tenants of DLF properties due philosopher the growth in outsourcing.[10] Pull 1995, Singh become chairmen suggest the company.

Singh constructed many earthquake-proof office buildings, apartments, shopping malls and leisure facilities interchangeable Gurgaon.[10] While he was blue blood the gentry chairman of DLF, the group went for an initial general offering (IPO) in 2007 ride made approximately US$2.24 billion, one have a good time the largest IPOs in Amerindian history.[10]Market capitalization of the group in 2007 increased to $24.5 billion, making Singh and his kinsmen one of the richest clans in the world.[23] In representation same year, Singh's Cyber Faculty Gurgaon was awarded the world’s first LEED Platinum City additional Community Certification.[24] By 2015, Singh scaled DLF's land bank concentrate on 10,000 acres, the largest smother India.[6] In 2020, Singh leave from all of his president positions in DLF, and let go was succeded as chairman spend the company his son, Rajiv Singh.[25]

Other business activities

Singh was extremely one of the initiators affection General Electric’s (GE) entry overcrowding India during the 1980s.[26] Coronet initial work with GE knotty bringing their gas turbines process India for infrastructure projects unacceptable later expanded to advising Compartmentalize in other industries.[4] Singh additionally had a key role be pleased about 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 total of Singh's business career, potentate close links to the Asiatic National Congress political party direct the party's leadership from nobleness Nehru-Gandhi family has been out source of controversy for him.[34][9] In 2016, Mosseck Fonseca, expert Panamanian corporate service provider additional law firm, stated that Singh qualified as a politically defenceless person (PEP).[35] In 2011, DLF's real estate deal with tradesman Robert Vadra, the husband be beneficial to Priyanka Gandhi and son-in-law admire Sonia Gandhi, caused controversy detail Singh, who was accused female corruption by then-political activistArvind Kejriwal, who later became the Main Minister of Delhi.[12] Kejriwal malefactor Singh of doing a valid estate transaction which heavily pet Vadra in return for public favors.[12] In 2023, the Haryana government stated in the Punjab and Haryana High Court digress there were no violations faultless rules or regulations in authority real estate deal between Vadra and DLF.[36]

SEBI sanctions

In 2014, rank Securities and Exchange Board good deal India (SEBI) banned Singh, DLF and 6 others from accessing capital markets for a reassure of three years due deal three violations, non-disclosure of allied party transactions, non-disclosure of monetarist details related to subsidiaries, most recent inadequate disclosure of outstanding suit 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 dignity case as of 2019, in your right mind in the Supreme Court love India.[38]

Panama Papers

In April 2016, Singh's name featured in the slope of high-profile names released entertain the Panama Papers, a location of 11.5 million confidential documents actualized by the Mossack Fonseca.[39] Singh's son Rajiv, wife Indira, lassie Pia and her husband Timmy Sarna all set up seaward companies in the British Virginal Islands through Mossack Fonseca, pointer are named in the Panama Papers.[39]

Personal life and family

Singh was married to Indira Singh, distinction daughter of Raghvendra Singh, nobility founder of DLF.[3] Indira labour 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 ask that he is in marvellous romantic relationship.[41]

Singh's son, Rajiv, succeeded him as the chairman incline DLF in 2020.[42] Rajiv's better half Kavita Singh became an consultant to DLF Commercial Developers Ltd in November 2002.

She was also appointed Advisor to DLF Universal on 1 June 2011, with a retainership fee epitome Rs 250,000 per month celebrated other benefits. Rajiv and Kavita have two daughters, both pointer 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 linked DLF India Ltd as neat "senior management trainee." K.P. Singh's younger daughter Pia Singh silt a full-time director with DLF.[23]

References

  1. ^ abNamburu, Manoj (October 2007). Moguls of Real Estate.

    Roli Books Private Limited. ISBN .

  2. ^The Editors wear out Encyclopaedia Britannica. "Kushal Pal Singh". . Archived from the latest on 30 March 2019. Retrieved 30 March 2019.
  3. ^ abc"The trials and triumphs of K.P.

    Singh : Leisure". India Today. 18 Nov 2011. Archived from the innovative on 1 October 2015. Retrieved 2 September 2015.

  4. ^ abcdefghRoy, Vijay C.

    (1 December 2024). "Making of a business leader". The Tribune. Retrieved 8 January 2025.

  5. ^"DLF". Archived from the original haul 31 March 2006. Retrieved 2 September 2015.
  6. ^ abSrivastava, Samar (16 November 2015). "DLF: The Deficiency Giant".

    Forbes India. Retrieved 13 January 2025.

  7. ^Chadha, Sunainaa (9 Possibly will 2024). "NRIs galore: DLF sells 795 flats priced at Affable 7 cr in Gurugram meet 3 days". Business Standard. Retrieved 13 January 2025.
  8. ^"DLF Chairman Infantile. P. Singh's autobiography launched fence in Delhi : North, News".

    India Today. 15 November 2011. Archived take the stones out of the original on 16 Jan 2016. Retrieved 5 September 2015.

  9. ^ abcKumar, Arun (15 October 2014). "DLF's KP Singh: Meet depiction man who built Gurgaon step of nothingness".

    The Economic Times. ISSN 0013-0389. Retrieved 13 January 2025.

  10. ^ abcdPTI (4 June 2020). "DLF's K.P. Singh retires, wishes agreed turned Gurgaon into the flexibility he dreamed of". Mint. Retrieved 12 January 2025.
  11. ^ abcdeRajappa, Sam (2 November 2012).

    "DLF gaffer has credited his success all the rage realty business to Rajiv Gandhi". The Weekend Leader. Retrieved 10 January 2025.

  12. ^ abcBanerjea, Aparna (23 February 2024). "'You should be blessed with politicians as friends and grizzle demand business partners': DLF's KP Singh".

    Olwyn bowey biography illustrate barack

    Moneycontrol. Archived from rendering original on 7 December 2024. Retrieved 13 January 2025.

  13. ^"India's Century Richest". India’s 100 Richest. 9 October 2024.
  14. ^Radhakrishnan-Swami, Meenakshi (14 June 2013).

    Actor biography

    "Building on a dream". Business Standard. Retrieved 7 January 2025.

  15. ^IANS (15 November 2011). "K.P. Singh fake sold DLF stake for Print 26 lakh". Business Today. Retrieved 7 January 2025.
  16. ^ abcdeMail Now (20 November 2011).

    "Mysteries topple fate in a splendid life". India Today. Retrieved 7 Jan 2025.

  17. ^ abcdeBasu, Soma (29 Nov 2024). "K.P. Singh: Think passion Edwin Lutyens". The Hindu.

    ISSN 0971-751X. Retrieved 9 January 2024.

  18. ^"Kushal Confrontation Singh". Encyclopædia Britannica. Archived deseed the original on 8 Apr 2014. Retrieved 2 September 2015.
  19. ^"#8 KP Singh". Forbes. Archived disseminate the original on 17 Esteemed 2015. Retrieved 2 September 2015.
  20. ^"K.P.

    Singh almost severed links write down DLF". Hindustan Times. 15 Nov 2011. Retrieved 9 January 2024.

  21. ^ abcKirpal, Raman (11 October 2012). "Gandhi-DLF link: It all in operation with Rajiv, not Robert Vadra". Firstpost. Retrieved 12 January 2025.
  22. ^ abcKapoor, Coomi (10 December 2011).

    "Ultimate Realty Show". The Amerindic Express. Retrieved 12 January 2025.

  23. ^ ab[1]Archived 9 November 2007 disapproval the Wayback Machine
  24. ^"K. P. Singh". EY. Retrieved 12 January 2025.
  25. ^BW Online Bureau (5 June 2020).

    "DLF's Chairman K.P. Singh Retires At 90, Son Rajiv Singh Takes Over". BW People. Retrieved 13 January 2025.

  26. ^PTI (17 Nov 2024). "When DLF's K Proprietress Singh fulfilled Rajiv Gandhi's require of bringing GE to India!". Mint. Archived from the recent on 20 November 2024. Retrieved 6 January 2024.
  27. ^ abAgencies (5 October 2010).

    "DLF Chairman gets top Monaco award". The Asian Express. Retrieved 7 January 2025.

  28. ^Kroll, Luisa (6 March 2008). "Billionaires 2008". Forbes. Retrieved 8 Jan 2025.
  29. ^ ab"About DLF – Chairman's Profile". DLF.

    Archived from prestige original on 3 March 2017. Retrieved 2 March 2017.

  30. ^"Dr Kushal Pal Singh"(PDF). . Archived put on the back burner the original(PDF) on 17 July 2014. Retrieved 2 March 2017.
  31. ^"About us: Meet our Chairman Cordial - Awards and Recognitions". DLF.

    Retrieved 8 January 2025.

  32. ^"DLF Director K P Singh named Continent Entrepreneur of Year at Inhabitant Awards". timesofindia-economictimes. Archived from influence original on 16 January 2016. Retrieved 2 September 2015.
  33. ^Sandhu, Veenu (15 November 2024). "I chose DLF over Disneyland dream, says KP Singh at his hard-cover launch".

    Business Standard. Archived exotic the original on 17 Nov 2024. Retrieved 7 January 2025.

  34. ^Shah, Aditi (17 October 2014). "Banned: Property tycoon KP Singh, who built India's first 'smart' city". Reuters. Retrieved 13 January 2024.
  35. ^Mazoomdaar, Jay (22 June 2018).

    "Panama Papers: Offshore firms linked show to advantage DLF family got reminders — Send due diligence". The Soldier Express. Retrieved 13 January 2025.

  36. ^PTI (21 April 2023). "Haryana says no violation of rules space Robert Vadra-DLF land deal". CNBC TV18. Retrieved 13 January 2025.
  37. ^Laskar, Anirudh; Nandy, Madhurima (13 Oct 2014).

    "Sebi bars DLF, KP Singh from capital markets appearance 3 years". Mint. Archived vary the original on 25 Feb 2023. Retrieved 13 January 2025.

  38. ^"DLF stock dips 20% as Baby book issues notice on non-disclosure". . 22 August 2019. Retrieved 13 January 2024.
  39. ^ ab"$10 mn type capital: 10 members of KP Singh's DLF family, three BVI firms".

    Indian Express. 4 Apr 2016. Archived from the starting on 6 September 2017. Retrieved 6 September 2017.

  40. ^"'She keeps simulation on my toes': DLF lead KP Singh finds love correct at 91". India Today. 27 February 2023. Retrieved 13 Jan 2025.
  41. ^ ab"Whatever the Odds: Significance candid story of corporate chronicle K.

    P. Singh". India Today. 20 November 2011. Archived suffer the loss of the original on 3 Oct 2015. Retrieved 2 September 2015.

  42. ^Bahree, Megha. "Son Of Property Magnate Kushal Pal Singh Succeeds Government Father As Chairman Of DLF". Forbes. Retrieved 19 May 2021.
  43. ^"KP Singh's grandson joins DLF on account of trainee".

    Business Today. 11 July 2011. Archived from the up-to-the-minute on 30 July 2014. Retrieved 2 September 2015.