NRI, Aniyan Kutty to Open International Bank in Bahrain

DUBAI, Oct 22, 2005
UNI

A Dubai-based Keralite Non-Resident Indian businessman, Aniyan Kutty, will set up an international bank with headquarters in Bahrain.

Aniyan Kutty, who also announced plans to launch a budget airline in India, will start the bank with an initial capital of 40 million dollars.

"We are currently looking for business partnerships with other financial institutions in the Gulf region," a newspaper quoted him as saying.

Kutty's no-frills domestic airline 'City Air', with its headquarters in Madras, will begin operations in January with Airbus A 320 and Boeing 737 aircraft, operating 18 flights.

Mr Kutty interests also include shipping, construction and software development. He and his wife have a 34 per cent stake in "City Air" which has a total investment of 22.13 million dollars.

NRI Aniyan Kutty from Dubai announace "City Air" in India

Dubai, May 31, 2005
Arun Aggarwal

Dubai based, NRI business baron Aniyan Kutty's new venture in animation, 'CGI Mantra'. The baron who has diverse business interests ranging from construction to advertising, steel to shipping and IT, is in spite of his enormity as a wealth creator, a very modest man.

NRI, Kutty told that a private company had already been registered in Kerala for running the airline. To be called City Air, the new airline will be a budget carrier and will have its operational headquarter in Chennai.

Unlike most other airline companies that have taken off in the country recently, City Air will have the advantage of functional software availability because Clarion’s group company Dimensions develops aviation-related software products, which can be used by the airline.

“We have already had negotiations in the US for leasing aircraft. In the beginning we will have two Boeing 737-200 aircraft”, Mr Kutty said, adding the company intended to complete all formalities and have the launch of the airline before the end of this year.

The estimated investment is Rs 60 crore. Mr Kutty said the debt component was yet to be decided, and that the company may even decide to launch the company on a zero-debt basis, depending on lease conditions. Clarion’s decision to launch an airline registered in Kerala comes at a time when Cochin International Airport (CIAL) has become the first international airport in Kerala to cross the landmark of 1 million passengers during 2004-05.

CGI Mantra Mumbai facility, the billionaire Kutty plans for CGI Mantra and how he plans to take the Indian animation industry to the next level.

NRI, Kutty ventured into IT in the year 2000 with the setting up of Dimensions Cybertech India which is into providing IT solutions. The company provides software solutions for two main verticals such as scientific and engineering applications and enterprise solutions.

Our tryst with animation began at Dimensions when animation producer KS Madhu, a classmate of the CEO Binu Jacob, convinced him to do something in animation. He e made a 26 minute 3D film titled 'Princess of Persia' along with Madhu's firm Hibiscus India. The film has featured in many festivals and also won an award.

Construction is one of the major contributors to his total revenue. Around 1500 people are employed in his construction business. Total number of people employed across all his group companies are 2800.

 

 

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