Vinod Goenka
Vinod Goenka | |
|---|---|
 Vinod Goenka in 2018 | |
| Born | 2 July 1959 |
| Nationality | Indian |
| Alma mater | |
| Occupation(s) | Real estate developer, Industrialist |
| Title | Chairman and managing director, Valor Estate (Formerly DB Group) Founder, Goenka & Associates Educational Trust |
| Spouse | Aseela Goenka[1] |
| Children | 2 |
Vinod Goenka (born 2 July 1959) is an Indian real-estate developer and billionaire. He is Chairman and Managing Director of Valor Estate (formerly DB Realty Limited), a real estate development company headquartered in Mumbai, India.[2]
In 2010, his net worth was estimated at US$1.18 billion.[3]
Early life and education
[edit]Goenka was born in 1959 to a Marwari business family in Kolkata. When he was 6 years old, his family moved to Mumbai. He first attended Green Lawns High School, then Jamnabai Narsee School, and eventually finished his schooling at Campion School, Mumbai.[4]
Career
[edit]At just 19 years old, he began working in his father's business in the 1980s. In the early 1980s, Goenka started his real estate empire with Conwood Constructions and launched projects at Gokuldham and Yashodham in Goregaon, Mahavir Nagar in Kandivli and Vasant Vihar in Thane.[5] By 2006, he partnered with Shahid Balwa, another Mumbai-based realtor in a 50:50 collaboration to develop Le Méridien Mumbai (now Hilton International Airport Hotel). This partnership resulted in the creation of the DB group.[6][7]
Goenka, known for cluster development in Mumbai and its suburbs, focuses on redeveloping aging buildings and converting them into affordable housing while adhering to sustainable urban growth and town planning goals.[8] In 2020, the Government of Maharashtra established a steering committee comprising cabinet ministers, senior officials, and industry leaders, including developers like Goenka to address real estate challenges and support initiatives like these.[9]
Personal life
[edit]Goenka resides in Mumbai. He is married to Aseela Goenka and has two children, a son and a daughter.[10]
Controversies
[edit]Goenka was arrested on 20 April 2011 for his alleged role in the 2G spectrum case and was granted bail on 23 November 2011 by the Supreme Court.[11][12][13][14] He temporarily stepped down from his roles during his imprisonment in 2011.[15]
In 2013, UAE telecommunications operator Etisalat sued its Indian joint venture partners Vinod Goenka and Shahid Balwa for fraud after the Indian Supreme Court cancelled Goenka's 2G licenses as a part of the 2G spectrum case.[16][17]
On 21 December 2017, Goenka and all 18 other accused persons in the 2G spectrum case were acquitted of all charges levied against them.[18][19][20]
References
[edit]- ^ "2G scam: Goenka's wife Aseela skips witness box". Sahara Samay.
- ^ "Mumbai: Vinod Goenka to inquire with CP about missing brother". Free Press Journal. Retrieved 30 May 2023.
- ^ "Vinod Goenka". Forbes. Retrieved 10 October 2024.
- ^ Agarwal, Prachi (10 October 2024). "The Remarkable Journey of Vinod Kumar Goenka". Management Articles and Cases, PUEB. doi:10.5281/zenodo.13914303.
- ^ Saini, Manish (19 June 2024). "Vinod Kumar Goenka's Quest To Build Communities And Create Icons". Outlook India. Retrieved 10 October 2024.
- ^ Kamath, Raghvendra (25 January 2013). "The ups and downs in the DB Realty story". Business Standard. Retrieved 10 October 2024.
- ^ Behera, Bidyadhar (12 June 2019). Entrepreneurship Text and cases. MJP Publisher. ISBN 978-8180942150.
- ^ "Vinod Kumar Goenka's Pioneering Role in Township Redevelopment: Embracing Cluster Development for Urban Renaissance". Business Standard. 20 February 2024. Retrieved 16 November 2024.
- ^ Vyas, Sharad (10 February 2020). "Committee to look into real estate woes". The Hindu. ISSN 0971-751X. Retrieved 16 November 2024.
- ^ "2G case: Vinod Goenka's wife tells court her husband did not commit any illegality". The Times of India. 30 April 2013.
- ^ "2G: Vinod Goenka moves HC against charge-framing". No. 24–01–12. Indian express. Archived from the original on 9 October 2014. Retrieved 6 October 2014.
- ^ PTI (24 January 2012). "2G case: Vinod Goenka moves HC against framing of charges". The Hindu Business Line.
- ^ "2G scam witness names Balwa, Goenka". Deccan Herald. 14 April 2015.
- ^ "The ups and downs in the DB realty Story". Retrieved 6 October 2014.
- ^ "Families step in to rescue DB Realty Ltd from going under". 26 April 2011.
- ^ "Etisalat sues partners Balwa, Goenka over telecom fiasco". 23 February 2012.
- ^ "Etisalat sues Vinod Goenka, Shahid Balwa for fraud". Reuters. 23 February 2012.
- ^ "Justice has been done, says Vinod Goenka on 2G scam verdict". ET Now. 21 December 2017.
- ^ Naazneen Karmali. "In Landmark Verdict, Court Acquits Billionaire Ruia And Others In India's Telecom Corruption Case". Forbes. Forbes.
- ^ "Justice done, says realty co-chairman after 2G acquittal". The Times of India. No. 22–12–17. TimesofIndia. 22 December 2017.
Further reading
[edit]- Nandgaonkar, Satish (23 October 2023). "Once scam-tainted, DB Realty's promoter is at the top of the JV game today". Hindustan Times. Retrieved 10 October 2024.
- Rawal, Swapnil (12 February 2020). "Acquitted in 2G scam, Balwa, Goenka on govt realty panel". Hindustan Times. Retrieved 16 November 2024.
- Guiu Searle, Llerena (2018). "The contradictions of mediation: intermediaries and the financialization of urban production". Economy and Society (journal). 47 (4). Routledge: 524–546. doi:10.1080/03085147.2018.1538638. ISSN 0308-5147.