Tuesday, 20 November 2012

What does Ponty Chadha's death mean for his R 2,700 cr empire?

What does Ponty Chadha's death mean for his R 2,700 cr empire?
Clean Media Correspondent

New Delhi, Nov 20 (CMC) Liquor baron Ponty Chadha's huge business in Uttar Pradesh could suffer a serious blow after his sudden demise two days ago.

Government sources have indicated that his death could spell trouble for his Wave group.

Sources stated that Chadha managed to get the excise policy of UP tilt in his favour while he was alive.

All liquor sales in the 70 districts of the state were routed through his empire during the Mayawati government's regime. Chadha controlled nearly 60 percent of the liquor business in Uttar Pradesh.

The excise policy would expire in March 2013 and the SP government is supposed to make the liquor business a transparent ground.

With many controversies around Ponty Chadha's group, notably the sale of 21 government sugar mills to him for a pittance by the Mayawati government, Akhilesh Yadav never saw the slain tycoon as a "valued" businessman, said an aide of the chief minister.

A probe by the Lokayukta has already been ordered in the sugar mills' deal.

In Lucknow alone, Chadha owned 18 beer shops, 92 country liquor shops, 35 model shops and 115 foreign liquor shops. In the entire state, 16,000 big and small liquor shops were being run by him.

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