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Chinnakannan Sivasankaran

Chinnakannan Sivasankaran

Chinnakannan Sivasankaran (born 1956, Chennai) is the Chairman of Siva Group, [1] Siva Industries & Holdings and Siva Ventures. He was declated as bankrupt by Supreme Court of Seychelles in 2014. [2]

Chinnakannan Sivasankaran
Born(1956-07-29)29 July 1956(age 59)
Chennai, Tamil Nadu, India
NationalitySeychelles
OccupationChairman of Siva Group
ReligionHindu
WebsiteSIVA Group

Early life

Sivasankaran was born in 1956 in Chennai, India. [3] He started his career as a fabrication contractor for MRL (now Chennai Petroleum corporation), a business started by his father. [4]

Ventures

Sivasankaran bought Sterling Computers from Robbert Amritraj, father of the Indian tennis star, Vijay Amritraj, in the 80s and selling computers at the lower prices. [5] made it to the Indian newspapers as an innovative emerging businessman. He acquired telecom licences for Delhi, Haryana, Rajasthan, UP (East) and Tamil Nadu in early 1990s and in 1997 launched Aircel based out of Chennai. Sivasankaran additionally has stakes in Aiwo (health food chain), WinWinD, S Tel and Siva Shipping (earlier Ugland Shipping). [6]

Controversies

Sivasankaran sold his 74 percent stake in Aircel to Maxis Communications in 2006. Later, CBI allegedly found irregularities in the deal and charged former minister Dayanithi Maran for having forced Sivasankaran to sell all his stake to Maxis. [7]

He is known to keep an extremely low public profile and has rarely given public interviews.

He is known to live out of the most expensive presidential suites around the world and owns a large fleet of private planes and yachts.

[8] He is the ambassador-at-large for Seychelles, where he owns a seafront residence.

[9] On August 26, 2014, the Supreme Court of Seychelles declared him and the Siva Group insolvent following his application for bankruptcy protection to ward off a claim by his Bahrain-based telecom partner Batelco. [1]

References

[1]
Citation Linken.wikipedia.orgThe original version of this page is from Wikipedia, you can edit the page right here on Everipedia.Text is available under the Creative Commons Attribution-ShareAlike License.Additional terms may apply.See everipedia.org/everipedia-terms for further details.Images/media credited individually (click the icon for details).
Jul 3, 2016, 8:20 PM
[2]
Citation Linkinvesting.businessweek.com"Executive profile : C.Sivasankaran"
Jul 3, 2016, 8:20 PM
[3]
Citation Linktimesofindia.indiatimes.com"Siva seeks bankruptcy protection"
Jul 3, 2016, 8:20 PM
[4]
Citation Linkarticles.economictimes.indiatimes.com"About Sivasankaran, member of the board of Tamlinad Mercantile Bank"
Jul 3, 2016, 8:20 PM
[5]
Citation Linkthehindubusinessline.com"The story of Sivasankaran"
Jul 3, 2016, 8:20 PM
[6]
Citation Linkfinancialexpress.comfinancialexpress.com
Jul 3, 2016, 8:20 PM
[7]
Citation Linkdocstoc.com"Company brochure : Siva shipping"
Jul 3, 2016, 8:20 PM
[8]
Citation Linkfirstpost.com"2G case, Maran pressurized Sivasankaran"
Jul 3, 2016, 8:20 PM
[9]
Citation Linkplushasia.complushasia.com
Jul 3, 2016, 8:20 PM
[10]
Citation Linkarticles.economictimes.indiatimes.com"hinnakannan Sivasankaran: The Chennai-born billionaire behind Dayanidhi Maran's exit"
Jul 3, 2016, 8:20 PM