In all, 11 winners were rewarded for excellence in their sector, and the evening also saw the launch of the annual Asian Rich List, a compilation of the 101 wealthiest Asians in the UK.
Chadha won the coveted Asian Business of the Year for leading his company, Supreme, to be one of the country’s fastest growing businesses and a leading manufacturer, brand owner and distributor of fast-moving consumer goods.
Supreme’s portfolio includes a range of products, from tea to lightbulbs and energy drinks, and it acquired 17 companies in the past seven years, among them Typhoo Tea and SlimFast.
The company serves more than 6,000 trade customers and 55,000 retail outlets nationwide.
Vandrevala’s Intrepid Capital Partners is a leading private equity house and the billionaire has seen exponential growth on his investments over the past decade.
His current investments are in technology, healthcare, education and real estate.
More than 650 guests attended the event in central London, among them business and industry leaders, parliamentarians and community representatives.
Secretary of state for housing, communities and local government, Steve Reed, was the chief guest.
He paid tribute to the Asian community and said, “In every part of Britain there are Asian businesses that support both the local economy and the local community… enterprises we would all be lost without.”
Secretary of state for housing, communities and local government, Steve Reed.
“Your success is an inspiration, not just to the Asian business community, but to every single part of our country,” he added.
Among other winners were ANAROCK, named as the International Business of the Year.
The international property consultant, which operates in India, Dubai and abroad, has built a reputation as a tech-enabled real estate services firm, whose professionals have advised on real estate transactions to the value of $75 billion. They use data to provide solutions for homebuyers, developers and investors.
A new prize this year was the ASEAN Lifetime Achievement Award, in recognition of the key role businesses from the South East Asian (ASEAN) region play in Britain and the global economy.
The winner was Tan Sri Sir Francis Yeoh, executive chairman of the YTL Corporation of Malaysia.
Sir Francis Yeoh also took part in a panel discussion with compere Nihal Arthanayake.
“We love what UK stands for, the rule of law, the stability of the politicians, the institutions that carry this country… your rule of law is second to none in the world,” Sir Francis said.
Tan Sri Sir Francis Yeoh, executive chairman of the YTL Corporation of Malaysia.
On long-term investment and values, he said, “We believe in long term, and we believe investing in a country like Britain for 25 years. I mean, never sold. We keep investing.”
Zain Kajani, Director, JMK Group, scooped the 7 Next Gen of the Year, while Sanjay Arora, CEO of the Arora Group, was named Hotelier of the Year.
Dr Vishwajeet Rana, founder of Global Banking School, was named Education in Business of the Year and Jason Wouhra OBE, CEO of Lioncroft Wholesale, picked up the Entrepreneur of the Year award.
The Fast Growth Business of the Year winner was Stanmore, part of the Akaal Group.
Managing director Rajbir Manak began his journey as a trainee plasterer, before buying out the company and transforming it into one of the nation’s leading construction groups, which has seen its profit quadruple over the past three years.
Navjot Sawhney, founder of the Washing Machine Project, won the Sustainable Business of the Year, for his flat-packable gadget that needs no electricity and is designed to cut water use by 50 per cent. Sawhney’s aim was to “free” women and girls from hours of manual labour.
The Asian Business Fund Manager of the Year was Prashant Kothari, senior investment manager, Pictet Asset Management.
Earlier in the evening, the latest edition of the Asian Rich List was unveiled; the Hinduja family topped the ranking with £37bn, followed by Lakshmi Mittal and his son Aditya in second place with £15.5bn and Sri Prakash Lohia and family with £12bn.
Guests at the event raised funds for Pratham charity, which provides education for underprivileged children in India.
