Killing of a Top Magnate, Reportedly by His Brother, Stuns India.

CNBC

NEW DELHI — Gurdeep Singh Chadha was one of India’s most powerful businessmen, a liquor and real estate baron whose influence was intertwined with his money. Known as Ponty, he was a mysterious figure, described in the media as an “invisible man,” even as his political influence protected him.

But Mr. Chadha, who was in his mid- to late 50s, was killed on Saturday, shot in the chest, reportedly by his younger brother Hardeep, who was also killed, after an argument escalated into a gunfight at a luxury farmhouse outside New Delhi. The Shakespearean overtones were inescapable: the brothers had been fighting over the family business since their father’s death last year. They converged at the farmhouse with retinues of armed guards, and soon the bullets flew.

“Some businesses need BlackBerrys,” said a member of the extended family, who would identify himself only as Mr. Kohli. “Some businesses need guards.” 

In an era of rampant crony capitalism, Mr. Chadha was among the class of businessmen who symbolized the nexus between money and political power in India. He exerted influence in four northern states, especially in Uttar Pradesh, home to roughly 200 million people, where he had been awarded monopoly control over the state’s wholesale liquor business and held the contract to provide millions of daily midday meals to poor schoolchildren. 

His power in Uttar Pradesh was evident within hours of his death: nearly all the liquor stores in the huge state were shuttered, according to the online edition of Tehelka, an Indian news magazine, while his family’s multiplex movie theaters also closed down. Critics say Mr. Chadha bought his influence with bribes, though such charges were never proved. “It’s a sad reflection on the state of Indian politics that a man like him could wield so much clout,” said Prakash Singh, who once commanded the state police in Uttar Pradesh. “He used money power to great advantage.” 

The Chadha family’s wealth has been estimated to be $1 billion to $10 billion, with holdings that include paper mills, shopping malls, movie theaters, sugar refineries and residential real estate projects. The family business, now known as Wave Inc., began under Mr. Chadha’s father but expanded rapidly during the past decade as Mr. Chadha courted political leaders, especially Mayawati, a former chief minister of Uttar Pradesh. Mr. Chadha gained control of the liquor business and was allowed to purchase several state-owned sugar mills at deeply discounted prices. 

 In February, he seemed to have finally fallen out of official favor. Tax inspectors raided his offices, though so far nothing has come of the investigation. His supporters praised his generous nature, noting that he had built a hospital for mentally and physically disabled children, made donations to the poor and paid to restore temples of his Sikh religion. 

There were conflicting witness accounts of Saturday’s confrontation, but, broadly, police officials told Indian news media that the shootout had been set off by a dispute over ownership of the luxury farmhouse. By some accounts, Mr. Chadha had taken an armed entourage to seize control of the property, and his brother Hardeep had rushed over with his own guards to confront him. An argument erupted, and the younger brother is reported to have shot Mr. Chadha. He was then shot by one of the guards who had accompanied Mr. Chadha. 

Questions about the killings remain. Both brothers were killed and a third man was injured, yet no one else was reported wounded even though the rival groups apparently fired scores of bullets. Moreover, both brothers were accompanied by police officers from the state of Punjab, assigned to them for security. The officers’ actions in the gunfight are also under scrutiny.