LONDON, NOVEMBER 16, 2004
PTI

Two NRI entrepreneurs Mayank Patel and Karan Bilimoria have won two prestigious London Business Awards for commercial enterprise and excellence.

Patel, Chairman and CEO of Currencies Direct has been named Entrepreneur of the Year 2004 while Bilimoria, CEO of Cobra Beer, was crowned Business Person of the Year at the Awards ceremony jointly organised by the London Chamber of Commerce and sponsored by KPMG on Monday night.

"Successful entrepreneurship is often based on a mixture of inspiration and sheer hard work and Mayank Patel has harnessed these to establish his own niche market, achieving outstanding commercial performance," said Sir Peter Davis, Former Chairman of J Sainsbury Plc who was on the judging panel.

Commenting on the award, Mayank said, "I'm very pleased as an award such as this recognises Currencies Direct's growth from a two-man operation with start-up capital of just 8,500 pounds to today employing over 70 people in four countries with a turnover of 700 million pounds."

"This award is not just for me, it is a tribute to my fantastic team who have all helped make Cobra Beer a success story," Bilimoria, who was selected from a shortlist of four outstanding business leaders, said.

Other award winners were, Young Business Person of the Year, Calypso Rose, Clippykit Ltd, Business Innovation: SparesFinder, Small Firm of the Year: G P Capital, Manufacturer of the Year: G R Wright and Sons, Exporter of the Year: Felix Rosenstiel's Widow and Son Limited, Commitment to the Community: Holts.