Mutha Group Proceeds Unperturbed with Maldives Resort Project Despite Controversy

Chennai-based Mohan Mutha Group remains undeterred by controversy as it reaffirms its commitment to moving forward with the construction of a $30 million all-vegan 'wellness resort' in the Maldives. The project, aimed at catering to the growing vegan clientele, had stirred discussions following an August 17, 2023 report by businessline. The Mutha Group, engaged in trading and construction, had announced plans to build a vegan, no-alcohol resort on one of the Maldivian islands.

Suresh Mutha, Executive Director of Mohan Mutha Exports Pvt Ltd, had previously mentioned that the project awaited "one final approval" from the Maldives government, with the debt for the venture expected to be sourced from a Maldivian bank. Despite any challenges, when queried recently about the group's intentions regarding the project, Mutha affirmed, "Yes, very much."

The Mutha family, adhering to Jainism and hailing from Rajasthan, has a historical connection with the Maldives dating back to 1942. The Mohan Mutha Group, initially established as a trading business by founder Mohanlal Mutha in Chennai, evolved into an import-export enterprise. The group's turnover today stands at approximately Rs. 1,000 crore.

As part of its backward integration from import-export, the group expanded into logistics, currently owning 15 tugs and barges deployed for cargo transportation between India and the Maldives. Given the close ties with the Maldives, venturing into the hospitality industry in the Indian Ocean archipelago seemed a natural extension for the group.

However, a challenge emerged due to the Mutha family's religious sentiments, which preclude the serving of non-vegetarian foods and alcohol. In recent years, seizing the momentum of global veganism, the group identified an opportunity to establish a resort exclusively serving vegetarian or vegan foods, aligning with both its business goals and religious principles.

HBL