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5 Things You Need To Know About Murari Lal Jalan
Now the airways need a strong controlling hand to turn its fortune around. Will Jalan be able to do so? Let’s look into what we know about Jalan
Photo Credit : (Courtesy: Murari Lal Jalan)
Murari Lal Jalan was a relatively lesser known name in India till some months ago. But this businessman is now in the spotlight after his consortium got the approval of the revival plan for the now defunct Jet Airways, the oldest private airline of India. Jet Airways shut down in April, 2019 when the debts could no longer be controlled by its then owner, Naresh Goyal. Now the airways need a strong controlling hand to turn its fortune around. Will Jalan be able to do so?
Let’s look into what we know about Jalan
Murari went from Ranchi to Tashkent
There is a very little information available about the new owner of Jet Airways, but we know he began his journey from Kolkata during 1980s through his family business of paper trading. When Jalan found success in paper trading business he went to photograph business i.e. Photo Imaging and distribution of its equipment. Talking about recent times, he is based in Dubai with his investments in multiple sectors like- mining, trading, construction, dairy, tourism and even global industrial works. Now Jalan has jumped into the aviation business along with Kalrock Capital, which is a London-based financial advisory firm.
How he offers so little information about him
Jalan is said to be totally inexperienced in what he is doing because there is very little information on how he became rich and was able to win the bid. He is a new face in the market both India and abroad, the mystery man has succeeded in staying hidden till the last minute. Although he has ventured into Russia, UAE and Uzbekistan yet he remains unknown to us in many ways.
How Jalan got from paper manufacturing to Aviation business
In order to expand his paper business in 2003, Jalan acquired Kolkata-based Kanoi Paper and Industries and renamed it to Agio Paper. The company was facing a lawsuit from government agencies in 2010, for pollution-related issues and the work of the company has stopped since. When the paper plans got backfired, he decided to jump into real estate and healthcare sector. In 2015, Jalan acquired stake in the company of Dr. Naresh Trehan and Associates Health Services for INR 75 crores. They had a plan to establish a hospital in Dubai with the help of Jalan but this was also not implemented.
As he moved his base to Dubai he dived into the real estate and other sectors by the name of MJ Developers, developing properties in Uzbekistan currently. He was chairman of the Agio Image group, which sold and distributed photographic and consumer products to firms likeSony, Panasonic and Konica.
Jalan as a part of success of Republic of Uzbekistan
Presently Jalan has invested in UAE, India, Russia and Uzbekistan. Out of these he has a great impact on the well-being of Uzbekistan. The Republic of Uzbekistan gained independence in 1991 and began its transition to a market economy. The annual GDP of growth of Uzbekistan has exceeded 8% over the last 11 years and Jalan remains a part of the country’s stories because of its steps towards the openness and foreign trade. He is contributing to the development of Namangan, a land of investment opportunities in many different sectors. Tashkent has his ventures in more than 2 million sqm. Of residential apartments and luxurious hotels, universities, hospitals which will all contribute to the new look of Uzbekistan.
There is some mysterious link of Jalan and Patanjali Ltd.
The Patanjali Ayurved owned by Baba Ramdev is said to have some connection with Jalan previously. There are documents with Indian Ministry of Corporate Affairs which show that the company of Murari Lal would be involved in distribution and marketing of ayurvedic products. Despite of this information there was no opening of the company and this was never cleared if or not the two were working together.
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