In many ways, the rise and fall of Vijay Mallya is a parable of modern India. Like

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In many ways, the rise and fall of Vijay Mallya is a parable of modern India. Like many in India's business elite, the tycoon made a big bet a decade ago, when India's economy was expanding by more than 9 per cent a year and boosters spoke of the subcontinent overtaking China. But then came the 2001-08 global ﬁnancial crisis, and domestic policy paralysis-,Many Indian companies especially family-owned businesses, with fuzzy distinctions between company assets and controlling shareholders ran into severe ﬁnancial difﬁculties. Kingﬁsher, which at its peak carried nearly a quarter of India's domestic air travellers on a ﬂeet of some T0 planes, is now India's biggest debt defaulter. But Mallya a businessman who embodied the aspirations of his country's restless youth for a more comfortable, digniﬁed life yet acted with the arrogance typical of its phenomenally rich, unaccountable elite is the most visible of India's troubled tycoons. Now, Mallya is in the sights of Modi, who swept to power in 2014 vowing to reinvigorate India's economy and to reclaim corrupt "black money hidden overseas. indians had long been bombarded with images of him at matches of the Indian Premier League cricket team bought by United Spirits in 2003', or in the pits at the car races of his Formula One team; or partying with stars of Hollywood and surrounded by scantily clad models at the annual release of Kingﬁsher's swimsuit calendar. Mallya was renowned for holding New Year's Eve parties at his Goa villa, attended by :1 Who's Who of Indian business and society. As he mingled with ,his guests, he was followed closely by attendants bearing his phones, drinks and cigars on silver trays. He also held annual parties aboard one of the world's largest luxury yachts, the Indian Empress, at the Monte lEarle Grand Prix. Mallya says "One of the businesses I was involved in failed, sadly. He says. "There were other businesses that still exist, which are hugely successful". The prime minister, central bank governor, and Aron Jaitley, the ﬁnance minister, are determined to clean up the banking system weighed dovm by bad loans. And all three men seem inclined to make an example of the erstwhile king of good times and demonstrate they can hold rich debt defaulters to account.

Based on the case, analyse the leadership style of Mr. Vijay Mallya