Ponty Chadha's controversial biz soared
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Ponty Chadha, who was killed along with his brother after both sides fired at each other today, was a controversial figure in the business world and had interests in fields ranging from liquor to real estate to films with industry pundits pegging his group's worth at Rs 6,000 crore.
After the death of their father Kulwant Singh Chadha, Ponty and his brothers Hardeep, who was also killed, and Rajinder were jointly managing Wave Inc, formerly known as Chadha Group.
Ponty, whose real name is Gurdeep Chadha, had hit the headlines earlier this year when the I-T department conducted searches at his premises covering 13 locations in Delhi, including the posh Sainik Farms, Lajpat Nagar, New Friends Colony, and in six locations in Noida, Moradabad and Lucknow.
He was apparently close to Samajwadi Party but switched to BSP when Mayawati had assumed power and became the sole distributor of liquor in Uttar Pradesh.
The senior Chadha started his business with a small jaggery mill and in 1968 started his group, which later got actively involved in food processing, paper manufacturing, sugar, distilleries, power manufacturing, bottling plants, real estate as well as film distribution.