INDIA: Liquor baron murdered
The head of Indian alcohol production and retail company the Wave Group was shot dead in Delhi last weekend.
Gurdeep Singh ‘Ponty’ Chadha was killed on Saturday (17 November) by his brother, who also died in return fire by a bodyguard. Chadha, 55, had complete control of the alcohol retail channel in India’s most populated state of Uttar Pradesh through Wave Group, along with a major stake in other north Indian states.
It also operates two distilleries in Punjab state and is setting up another unit in Uttar Pradesh, and has a franchised bottling unit for Coca Cola and bottles beer for United Breweries. In addition, the group also owns and operates a number of sugar mills.
The killings were triggered by a dispute over the division of business of the Wave Group. Chadha has a son already involved in the company and another brother. The pair are expected to take charge of the group, but analysts have warned that the future for the business is uncertain.
Using profits from the liquor business, Wave Group had diversified into real estate and film financing, among other businesses, and is estimated to be worth in the region of INR80bn (US$1.45bn).
Chadha started his career as a snack seller outside a country liquor shop.
- Comment - Diageo Steps Up Defence of Haig Club
- Focus - Diageo's H1 Results by Region, Brand
- Comment - Spirits - Where Next for Scotch Whisky?
- just the Preview - Diageo Q2 & H1
- US spirits pricing went "a little high" - Diageo
- Belvedere vodka tie-up over new James Bond film
- ASA rejects Haig Club ad complaints
- Diageo H1 sales flatline as Q2 improves
- Carlsberg freezes Russia salaries, new hires
- Diageo speaks out over supplier contract changes
- Global RTD/RTS insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Edrington Group in Spirits (World)
- Global Consumer Trends and Key Consumer Targets in Alcoholic Beverages
- Global vodka insights - market forecasts, product innovation and consumer trends research