Pramod Mittal has a debt of 2.5 billion pounds or about 24 thousand crore rupees and he does not have a penny to repay it, Pramod Mittal is the biggest bankrupt person of Breton till date.
The man who once spent Rs 500 crores on his daughter’s wedding, has been declared the most bankrupt of bitumen today. We are talking about Pramod Mittal, younger brother of Steel King Lakshmi Mittal, who married his daughter Srishti (Srishti) in 2013 with Dutch-origin investment banker Gulraj Bahl for Rs 500 crore. Had spent more. At the same time, Lakshmi Mittal spent 400 crores in her daughter’s wedding. But today Pramod Mittal has a debt of 2.5 billion pounds or about 24 thousand crore rupees and he does not have a penny to repay it. Pramod Mittal is the largest bankrupt (bankrupt) person in Breton to date.
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Pramod Mittal, 64, says he now owns property worth just £ 1,10,000, or Rs 1.5 crore. Pramod Mittal said, he has jewelery worth 7000 pounds, shares worth 66,669 pounds and 45 pounds of land in Delhi. Whereas, at this time he received 170 million pounds (about 16 billion 27 crore rupees) to his 94-year-old father, 1.1 million pounds (about 10 million rupees) from his wife Sangeeta, 2.4 million pounds (about 23 million rupees) to his 30-year-old son Divyesh. Rupees) and to return 1.1 million pounds (about Rs 1.5 crore) to his 45-year-old brother-in-law Amit Lohia. Apart from this, companies owe them billions of rupees. He said that he does not own his house in London.
This is how partition happened
The troubles began for Pramod Mittal 14 years ago when he agreed to become a loan guarantor of GIKIL, a Bosnian coke producer. His company Global Steel Holdings became the guarantor of GIKIL and later the company went bankrupt and could not repay the loan taken from Moorgate Industries. When Pramod Mittal could not return the fixed deadline and the money from Moorgate Industries, bankruptcy proceedings were initiated against his company.
Court gives verdict against Mittal
The debt on Pramod Mittal increased further when the Arbitration Court in 2017 ruled in favor of Moorgate Industries in the case of another Bosnian insolvent company. Pramod Mittal was also the loan guarantor of this company and his debt also came to his forehead. After this, Moorgate Industries moved the court and in June 2020, the court placed a bankrupt order against Pramod Mittal. The court pronounced Pramod Mittal an insolvency order for non-payment of interest of Rs 139,786,656, or about Rs 14,000 crore, besides Rs 10,000 crore. Now Pramod Mittal is saying that the creditors should agree to an agreement by withdrawing 0.18 paise for every pound given to them.
Lakshmi Mittal is not helping
This time Pramod Mittal’s elder brother Lakshmi Mittal is not helping him. Earlier, when Mittal failed to pay his debt after being implicated in a fraud case, Lakshmi Mittal saved Pramod Mittal by filling the bail amount twice. In fact, Pramod Mittal owed the UK State Trading Corporation (STC) Rs 2,210 crore. He was also arrested in Bosnia in 2019 in a fraud case related to GIKIL. He was accused of a suspected clearance of Rs 84 crore. In this case Pramod was released on bail amounting to Rs 92 crore.
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