Britain's richest Indian Lakshmi Mittal's brother declared bankrupt

London, Ta. Monday, June 29, 2020

Lakshmi Mittal's brother Pramod Mittal, owner of ArcelorMittal, the world's largest steelmaker, has been declared bankrupt. Pramod Mittal spent 8. 82 million (approximately Rs 500 crore) on his daughter's wedding in 2013. The wedding lasted three days. Today, however, he has been declared bankrupt for failing to pay 160 million in debt.

The whole country is affiliated with a Bosnian company. According to sources, Pramod, 64, was a guarantor in lieu of several loans. However he could not pay his debt after being caught in a fraud case.

According to sources, there was a dispute between Lakshmi Mittal and Pramod Mittal over the father's property. Lakshmi Mittal is not helping Pramod get bail or pay off his debt.

However Lakshmi Mittal had helped her brother Pramod many times in the past. Steel King Lakshmi Mittal's younger brother and businessman Pramod Mittal has been embroiled in controversy in the past. He was arrested in Bosnia in 2019 for fraud and abuse of power.

The case is related to a fraud involving GIKIL, a coking plant northeast of Lukavas. Pramod has been running the company since 2003 and has 1000 employees. He was chairman of the company's supervisory board.