Jahangir Siddiqui
From Wikipedia, the free encyclopedia
Jahangir Siddiqui is a
Pakistani businessman and philanthropist. Siddiqui is the brother of the television director, producer and businessperson
Sultana Siddiqui,
[1] and the uncle of her son the businessman
Shunaid Qureshi.
[2] Jahangir Siddiqui's son Ali Jahangir Siddiqui is married to the daughter of
Mir Shakil-ur-Rahman owner of
Jang Group of Newspapers.
[3]
Contents
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Career[edit]
In 1971, Siddiqui founded Jahangir Siddiqui & Co. Ltd, which by growth and acquisition eventually became the
JS Group of companies.
[4] Today, the JS Group of companies includes businesses that are a part of: JS Financial, JS Industrial, JS Infocom, JS Property, JS Resources and JS Transportation.
[5] JS Financial is the oldest of the group's businesses, and includes: Jahangir Siddiqui & Co. Ltd., JS Global Capital Limited, JS Bank Limited, JS Investments Limited and EFU Insurance Group and Bank Islami.
[5]
History[edit]
To raise money to start the company after his father's initial refusal to lend him
Rs 6,000 to start a business, Siddiqui secretly sold his family's car to a junk dealer for Rs1,800, along with the family's two-year stock of wheat and coal, all of which were stored in the family's house at the time.
[4] When discussing this start as a businessman, Siddiqui has been quoted as saying "Positive thinking distinguishes an entrepreneur from the rest of the crowd. He’s never deterred by difficult circumstances.”
[4] On May 15, 1962, with the support of his family, Siddiqui became a local distributor of ice-cream and coca-cola.
[6] In 1966, he completed a bachelor's degree in commerce, and began training as a chartered accountant in 1967.
[6] His interest in stock markets eventually led him to starting his own company in October 1971.
[4]
By the time he retired from the company in 2003, JS Group comprised a range of businesses with over 18,000 employees.
[4]Siddiqui and his wife Mahvash went on to found the
Mahvash & Jahangir Siddiqui Foundation, a
charitable,
non-profit organization,
[7] focusing on
healthcare,
education,
sustainable development through
social enterprise and emergency relief in Pakistan.
[8]
Land Allegations[edit]
See also:
Naya Nazimabad
In December 2010, Siddiqui was placed on the
Exit Control List (ECL) for alleged
land grabbing in
Karachi which alleged that Jahangir Siddiqui had illegally occupied a plot of 1,000 square yards in
Karachi in connivance with the owner of an estate agency, using forged documents.
[9][10] Additional Executive District Officer (AEDO) Revenue Mustafa Jamal Qazi maintained that it had become a practice that land that was awarded to the government was being grabbed by "land mafia...for its vested interests."
[9] Pakistan's Anti-Corruption Establishment arrested several in conjunction with the case in December.
[11]
Response
Siddiqui sued a group of individuals, including the Anti-Corruption Establishment director and a member of EDO Revenue for
defamation, indicating that the Citizens-Police Liaison Committee had evaluated land in 2001 and found the ownership of the property legal.
[12] In response to the defamation claim, the
Sindh High Court issued notices to the defendants, and they were summoned to appear before the court on 5 January 2011.
[13] The court issued a
restraining order preventing the defendants from "media attack" pending settlement of the matter.
[12] The
Pakistan Observer characterised these events as a "character assassination campaign" against Siddiqui.
[14]
Court Verdict
On 29 November 2011 the court ruled that the allegations were "false and baseless" and that such cases should not be filed in the future.
[15]
www.js.com
I hope this would suffice as an answer to ur query...
