Comprehension

Directions: Read the following passage and answer the questions given below:
Vijay Kumar was an Indian business tycoon who had to abscond to the United Kingdom after being accused of fraud and money laundering in the country. He fled the country and sought asylum in the United Kingdom in 2016. He is said to owe around Rs 9000 crores to multiple banks, which he took out as a loan to save his now-defunct Airlines from going bankrupt. Vijay Kumar’s desire to develop his liquor and airline businesses sparked the whole thing. His advisers advised him against it, but he went ahead and did it anyway. To fund his newly created airline, he sold another company founded by his father. Vijay Kumar’s airline quickly established itself as one of India’s best domestic airlines and many Indians’ first choice for flying. But the Indian government refused to allow the airline company to conduct foreign flights due to specific constraints. To travel internationally, he used his parent business, to purchase Deccan Air, which was losing a lot of money at the time. But he was unable to make a profit for his airline company even by 2010. Hence started the loans.

Question: 1

What do you mean by asylum?

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Asylum is a key aspect of international refugee law, providing protection to individuals who face danger in their home country.
Updated On: Apr 17, 2025
  • Giving shelter to another
  • Taking shelter in another country
  • Taking shelter in his own country
  • Taking shelter in the enemy’s country
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The Correct Option is B

Solution and Explanation

Asylum refers to the protection granted by a country to a foreign national who has fled their own country due to fear of persecution. In this case, it involves taking shelter in another country.
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Question: 2

With which airlines did Vijay Kumar want to merge his airlines?

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Merger and acquisition strategies are common in the airline industry, especially during financial distress, to consolidate market power and reduce competition.
Updated On: Apr 17, 2025
  • Deccan airlines
  • Indigo airlines
  • Air India
  • British India
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The Correct Option is A

Solution and Explanation

Vijay Kumar wanted to merge his newly established airline with Deccan Airlines, as mentioned in the passage. His airline was struggling financially, and the merger was part of his strategy to ensure its survival.
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Question: 3

What was the parent business of Vijay Kumar?

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Business diversification is a common strategy for tycoons to reduce risks and create opportunities for growth in various sectors.
Updated On: Apr 17, 2025
  • Airlines
  • Manufacturing goods
  • Gold business
  • United Breweries
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The Correct Option is D

Solution and Explanation

Vijay Kumar's parent business was United Breweries, which is known for producing alcoholic beverages, specifically beer. He ventured into the airline industry to expand his business empire.
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Question: 4

How many crores did he borrow from banks?

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Large loans like these are common in the airline industry, which often faces financial challenges due to high operational costs.
Updated On: Apr 17, 2025
  • Rs. 9090 crores
  • Rs. 9001 crores
  • Rs. 9000 crores
  • Rs. 900 crores
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The Correct Option is C

Solution and Explanation

Vijay Kumar borrowed Rs. 9000 crores from multiple banks to save his airline business from going bankrupt, as stated in the passage.
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Question: 5

Vijay Kumar was accused of _____ .

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Money laundering and fraud are serious financial crimes that involve illegal practices aimed at concealing the origins of illegally obtained money.
Updated On: Apr 17, 2025
  • Murder
  • Money laundering and fraud
  • Misappropriation of funds
  • Mischief
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The Correct Option is B

Solution and Explanation

Vijay Kumar was accused of money laundering and fraud, as mentioned in the passage. This accusation arose from his actions involving financial misrepresentation and fraudulent practices in the company.
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