Jahangir Siddiqui: Difference between revisions
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{{Short description|Pakistani businessman}} |
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Jahangir Siddiqui is a Pakistani businessman and founder of [[Jahangir Siddiqui & Co.]] and [[JS Bank]]. |
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==Career== |
==Career== |
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On May 15, 1962, with the support of his family, Siddiqui became a local distributor of ice cream and Coca-Cola.<ref name="pak-times.com">{{Cite web |title=Pakistan Times! » A self-made Jahangir Siddiqui: In the Beginning |url=http://www.pak-times.com/2009/05/14/a-self-made-jahangir-siddiqui-in-the-beginning |url-status=dead |archive-url=https://web.archive.org/web/20141107235524/http://www.pak-times.com/2009/05/14/a-self-made-jahangir-siddiqui-in-the-beginning/ |archive-date=2014-11-07 |access-date=2014-11-07}}</ref> In 1966, he completed a bachelor's degree in commerce, and began training as a chartered accountant in 1967.<ref name="pak-times.com" /> His interest in stock markets eventually led him to start his own company in October 1971.<ref name="empire" /> In 1971, Siddiqui founded Jahangir Siddiqui & Co. Ltd, which by growth and acquisition eventually became the [[JS Group]] of companies.<ref name=empire>{{cite news|last=Alam |first=Kazim |url=http://tribune.com.pk/story/321715/js-group-the-empire-built-by-selling-the-family-car/ |title=JS Group: the empire built by selling the family car |work=[[The Express Tribune]] |access-date=2014-02-02}}</ref> |
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In 1971, Siddiqui founded Jahangir Siddiqui & Co. Ltd, which by growth and acquisition eventually became the [[JS Group]] of companies.<ref name=empire>{{cite news|last=Alam |first=Kazim |url=http://tribune.com.pk/story/321715/js-group-the-empire-built-by-selling-the-family-car/ |title=JS Group: the empire built by selling the family car |work=[[The Express Tribune]] |date= |accessdate=2014-02-02}}</ref> 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.<ref name="js.com">{{Cite web |url=http://www.js.com/about-jsgroup.asp |title=Archived copy |access-date=2014-11-07 |archive-url=https://web.archive.org/web/20111128141122/http://js.com/about-jsgroup.asp |archive-date=2011-11-28 |url-status=dead }}</ref> 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 Bank Islami.<ref name="js.com"/> |
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==History== |
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| ⚫ | To raise money to start the company after his father's initial refusal to lend him [[Pakistani rupee|Rs]] 6,000 to start a business, Siddiqui secretly stole and 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.<ref name=empire/> When discussing this start as a businessman, Siddiqui said, "Positive thinking distinguishes an entrepreneur from the rest of the crowd. He’s never deterred by difficult circumstances.”<ref name=empire/> |
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On May 15, 1962, with the support of his family, Siddiqui became a local distributor of ice cream and Coca-Cola.<ref name="pak-times.com">{{Cite web |url=http://www.pak-times.com/2009/05/14/a-self-made-jahangir-siddiqui-in-the-beginning |title=Archived copy |access-date=2014-11-07 |archive-url=https://web.archive.org/web/20141107235524/http://www.pak-times.com/2009/05/14/a-self-made-jahangir-siddiqui-in-the-beginning/ |archive-date=2014-11-07 |url-status=dead }}</ref> |
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In 1966, he completed a bachelor's degree in commerce, and began training as a chartered accountant in 1967.<ref name="pak-times.com"/> His interest in stock markets eventually led him to start his own company in October 1971.<ref name=empire/> |
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| ⚫ | To raise money to start the company after his father's initial refusal to lend him [[Pakistani rupee|Rs]] 6,000 to start a business, Siddiqui secretly stole and 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.<ref name=empire/> When discussing this start as a businessman, Siddiqui said, "Positive thinking distinguishes an entrepreneur from the rest of the crowd. He’s never deterred by difficult circumstances.”<ref name=empire/> By the time he retired from the company in 2003, JS Group comprised a range of businesses with over 18,000 employees.<ref name="empire" /> |
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By the time he retired from the company in 2003, JS Group comprised a range of businesses with over 18,000 employees.<ref name=empire/> |
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Siddiqui and his wife Mahvash went on to found the |
Siddiqui and his wife Mahvash went on to found the Mahvash & Jahangir Siddiqui Foundation, a [[charitable organization|charitable]], [[non-profit organization]]<ref>{{cite web |url=http://www.usindh.edu.pk/agmqc/siddiq_foundation.html |title=Mahvash & Jahangir Siddiqui Foundation |publisher=Usindh.edu.pk |access-date=2014-02-02 |url-status=dead |archive-url=https://web.archive.org/web/20120415045454/http://www.usindh.edu.pk/agmqc/siddiq_foundation.html |archive-date=2012-04-15 }}</ref> focusing on [[healthcare]], [[education]], [[sustainable development]] through [[social enterprise]] and emergency relief in Pakistan.<ref>{{cite web|url=http://www.charity-charities.org/news.php?artid=613437 |title=Time to Give: Pakistan Needs the World's Help |publisher=Charity-charities.org |date=2010-12-24 |access-date=2014-02-02}}</ref> |
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==Land allegations == |
==Land allegations == |
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==Personal life== |
==Personal life== |
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He is the brother of the television director, producer and businessperson [[Sultana Siddiqui]],<ref>{{cite web |url=http://www.newsrecorder.net/2013/11/jahangir-siddiqui-fears-losing-seats-on.html |title=Jahangir Siddiqui fears losing seats on JSCL Board |publisher=News Recorder |date=2013-11-25 | |
He is the brother of the television director, producer and businessperson [[Sultana Siddiqui]],<ref>{{cite web |url=http://www.newsrecorder.net/2013/11/jahangir-siddiqui-fears-losing-seats-on.html |title=Jahangir Siddiqui fears losing seats on JSCL Board |publisher=News Recorder |date=2013-11-25 |access-date=2014-02-02 |archive-url=https://web.archive.org/web/20140203164836/http://www.newsrecorder.net/2013/11/jahangir-siddiqui-fears-losing-seats-on.html |archive-date=2014-02-03 |url-status=dead }}</ref> and the uncle of her son, businessman [[Shunaid Qureshi]].<ref>{{cite news|url=https://www.youtube.com/watch?v=bauGCpHxMVw |title=Jahangir Siddiqui disown Sultana Siddiqui (Sister) and Shunaid Qureshi (Nephew) |work=[[Waqt News]] |publisher=YouTube |date=2013-04-10 |access-date=2014-02-02}}</ref> Jehangir Siddiqui's son [[Ali Jehangir Siddiqui]] is also involved in the family's businesses. Another son is married with Mir Shakil-ur-Rahman's daughter.<ref>{{Cite web|url=http://pakistan.mom-gmr.org/en/owners/individual-owners/detail/owner/owner/show/the-mir-family/|title=The Mir Family|website=pakistan.mom-gmr.org}}</ref> |
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==References== |
==References== |
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[[Category:Pakistani philanthropists]] |
[[Category:Pakistani philanthropists]] |
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[[Category:Living people]] |
[[Category:Living people]] |
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[[Category:Muhajir people]] |
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[[Category:Pakistani company founders]] |
[[Category:Pakistani company founders]] |
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[[Category:Year of birth missing (living people)]] |
[[Category:Year of birth missing (living people)]] |
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[[Category:Pakistani accountants]] |
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[[Category:Pakistani stock traders]] |
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[[Category:People from Karachi]] |
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Latest revision as of 13:17, 2 April 2024
Jahangir Siddiqui is a Pakistani businessman and founder of Jahangir Siddiqui & Co. and JS Bank.
Career[edit]
On May 15, 1962, with the support of his family, Siddiqui became a local distributor of ice cream and Coca-Cola.[1] In 1966, he completed a bachelor's degree in commerce, and began training as a chartered accountant in 1967.[1] His interest in stock markets eventually led him to start his own company in October 1971.[2] In 1971, Siddiqui founded Jahangir Siddiqui & Co. Ltd, which by growth and acquisition eventually became the JS Group of companies.[2]
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 stole and 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.[2] When discussing this start as a businessman, Siddiqui said, "Positive thinking distinguishes an entrepreneur from the rest of the crowd. He’s never deterred by difficult circumstances.”[2] By the time he retired from the company in 2003, JS Group comprised a range of businesses with over 18,000 employees.[2]
Siddiqui and his wife Mahvash went on to found the Mahvash & Jahangir Siddiqui Foundation, a charitable, non-profit organization[3] focusing on healthcare, education, sustainable development through social enterprise and emergency relief in Pakistan.[4]
Land allegations[edit]
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.[5][6] 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."[5] Pakistan's Anti-Corruption Establishment arrested several in conjunction with the case in December.[7]
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.[8] 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.[9] The court issued a restraining order preventing the defendants from "media attack" pending settlement of the matter.[8] The Pakistan Observer characterised these events as a "character assassination campaign" against Siddiqui.[10]
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.[11]
Personal life[edit]
He is the brother of the television director, producer and businessperson Sultana Siddiqui,[12] and the uncle of her son, businessman Shunaid Qureshi.[13] Jehangir Siddiqui's son Ali Jehangir Siddiqui is also involved in the family's businesses. Another son is married with Mir Shakil-ur-Rahman's daughter.[14]
References[edit]
- ^ a b "Pakistan Times! » A self-made Jahangir Siddiqui: In the Beginning". Archived from the original on 2014-11-07. Retrieved 2014-11-07.
- ^ a b c d e Alam, Kazim. "JS Group: the empire built by selling the family car". The Express Tribune. Retrieved 2014-02-02.
- ^ "Mahvash & Jahangir Siddiqui Foundation". Usindh.edu.pk. Archived from the original on 2012-04-15. Retrieved 2014-02-02.
- ^ "Time to Give: Pakistan Needs the World's Help". Charity-charities.org. 2010-12-24. Retrieved 2014-02-02.
- ^ a b Land grabbing scam, Qadeer Tanoli, The News, Thursday, December 09, 2010. Thenews.com.pk (9 December 2010).
- ^ Jahangir Siddiqui’s name in FIR for land grabbing, Imran Hafeez, The Tribune, International Herald Tribune, December 8, 2010. Tribune.com.pk.
- ^ CDGK official gets bail in land scam case, Dawn News, December 13, 2010. Dawn.com (14 December 2010).
- ^ a b Jahangir Siddiqui Case Politically Motivated. Tribune.com.pk.
- ^ Defamation: Jahangir Siddiqui sues for Rs5b, The Express Tribune, January 1, 2011. Tribune.com.pk (1 January 2011).
- ^ Harassment of a Role Model, Pakistan Observer[dead link]
- ^ ePaper. The Nation (27 March 2012).
- ^ "Jahangir Siddiqui fears losing seats on JSCL Board". News Recorder. 2013-11-25. Archived from the original on 2014-02-03. Retrieved 2014-02-02.
- ^ "Jahangir Siddiqui disown Sultana Siddiqui (Sister) and Shunaid Qureshi (Nephew)". Waqt News. YouTube. 2013-04-10. Retrieved 2014-02-02.
- ^ "The Mir Family". pakistan.mom-gmr.org.