Lakshman Das Mittal Explained

Birth Place:Delhi, India
Children:4, including Usha Sangwan[1]
Occupation:Fmr. LIC Agent [2]

Lakshman Das Mittal (also spelled as Lachhman Das Mittal, born in Hoshiarpur on August 1931) is an Indian businessman.[3] [4] He is the owner and chairman of the Sonalika Group.[5] He is 82nd richest person of India.[6] [7] with the net worth of 2.31 Billion. He has been the Chairman of Tractor Manufacturer's Association of India and member of National Council of Confederation of Indian Industry.

Early life and education

Lachhman Das Mittal was born in 1931 in Punjab's Hoshiarpur. Mittal has completed his Master of Arts (English & Urdu) from Panjab University.He used to work as an insurance agent with LIC. In 1970 he began manufacturing wheat threshers with the help of local blacksmiths in Hoshiarpur, Punjab. The following year his family went bankrupt and by 1970 his net worth was Rs 1 lakh. He said, "Once I applied for dealership of Maruti Udyog but was rejected. Today, I give out dealerships."[8] LD Mittal has Net Worth of 2.31 Billion He is listed #82 Richest person of India by Forbes Magazine.

Career

Mittal started his business career in 1970, after pre retiring from the state-owned Life Insurance Corporation of India.[9] Sonalika Started Manufacturing Thrashers in 1970.

He founded Sonalkia Group in 1970 and Sonalika Tractors in 1996, which is now India's third-largest tractor manufacturer by market share.[10]

Mittal has since handed over leadership of the Sonalkia Group to his sons Amrit sagar Mittal and Deepak Mittal, but still attends the office every day.[11]

Notes and References

  1. Web site: 2023-05-29 . Meet Lachhman Das Mittal, India’s oldest billionaire with a net worth of Rs 23,000 crore; Know everything about him . 2024-01-02 . Financialexpress . en.
  2. https://www.ndtv.com/india-news/who-is-lachhman-das-mittal-indias-oldest-billionaire-5378948
  3. Web site: India's billionaires list rises to all time high of 56: Forbes. Anuradha Verma. vccircle.com. 4 March 2014.
  4. Web site: Sonalika Group chief enters Forbes billionaire list. NDTV Profit portal. 6 March 2014.
  5. Web site: 10 less known billionaires and millionaires of india. Aditya Pratihast. 2 December 2015. BolteRano. 8 May 2018.
  6. Web site: Forbes India's 100 Richest People 2022 RANKING. Forbes portal.
  7. Web site: India's Humblest Rich Man. Afternoon portal. 12 November 2012.
  8. Web site: LAKSHAMAN DASS MITTAL: Chairman, Sonalika Group, and Consul General, Republic of Macedonia. Business Standatrd portal. 6 March 2014.
  9. Web site: Lachhman Das Mittal. 2021-07-13. Forbes. en.
  10. Web site: About Us- Budget tractor from Sonalika Tractor Company. 2021-07-13. www.sonalika.com.
  11. Web site: Lachhman Das Mittal: Tractor Master. 2021-07-13. Forbes India. en.