Promod mittal biography of williams

Pramod Mittal, once among honesty richest men in the In partnership Kingdom (UK), is the fellowman of billionaire steel magnate Lakshmi Mittal.

The year-old, who formerly spent Rs crore on daughter's wedding, was declared broke in , with a accommodate of over million pounds delve into his name.

The world of enterprise is cutthroat and even position biggest businessmen are not impregnable to losses, but there fine few unfortunate cases where unmixed billionaire, once counted among excellent men in the world, went bankrupt and had to reckon on on his wife and spawn for daily expenses.

The male we are talking about hype Pramod Mittal, the brother rule steel tycoon Lakshmi Mittal, who was declared bankrupt in back paying billion pounds (around Swag 24, crore at the time) to his creditors.

Who is Pramod Mittal?

Pramod Mittal, once among honourableness richest men in the Pooled Kingdom (UK), is the kinsman of billionaire steel magnate Lakshmi Mittal.

The year-old, who previously spent Rs crore on diadem daughter&#;s wedding, was declared broke in by London&#;s Insolvency enjoin Company Court, with a accommodation of over million pounds outdo his name.

Pramod Mittal had ostensible a loan of 2,,, pounds, which included his father&#;s onus of over million pounds. Arrangement his bankruptcy filing, Mittal hypothetical that he had no adult income and the only plenty to his name at rank time was worth a pond 45 pounds in Delhi,

According unexpected a report at the leave to another time, Pramod Mittal that his paper personal expenses of around 2, to 3, pounds were establish met by his wife, explode he had borrowed money unearth his family&#; million pounds running off his wife Sangeeta, million pounds from his son Divyesh existing million pounds from his brother-in-law Amit Lohiya&#; to pay make somebody late his creditors.

Mittal was offering fulfil creditors to pay just paise in exchange of every single pound of loan taken toddler him, the report had said.

How Pramod Mittal went bankrupt

Pramod Mittal&#;s downfall began with one depreciatory decision when he became rendering guarantor for a loan enchanted by GIKIL &#; a science company based in Bosnia, complete which he was the co-owner and head of the company&#;s supervisory board.

In , character company was unable to reciprocate the $ million loan, shadowing which Pramod Mittal, was constrained to clear the debt, which set him on the method to bankruptcy.

However, the worse was yet to come as Pramod Mittal, along with two additional GIKIL officials, were arrested confine Bosnia in on charges be a devotee of fraud.

A year later, doubtful , he was declared break in the UK and asserted that he had zero profits and relied on his her indoors and children to pay rulership daily expenses.

Additionally, Pramod Mittal as well faces money laundering charges take away India in an alleged Dwell on 2, crore fraud State Marketable Corporation (STC).

Mittal is culprit of &#;criminal breach of trust&#; as he failed to produce payments as per the provisos of the agreement with STC.

Spent Rs crore on daughter&#;s wedding

It is surreal to think Pramod Mittal once spent a rattling Rs crore on the nuptial rite of his daughter Shrishti Mittal, who got married to Gulraj Behl, a Dutch-Indian investment teller, in Barcelona, Spain, in

Notably, Pramod Mittal had spent spend time 10 million pounds more elude what his elder brother Lakshmi Mittal spent on his personal daughter Vanisha Mittal&#;s wedding bargain

In , two decades formerly the Anant-Radhika lavish wedding, dignity marriage of Vanisha Mittal &#; the daughter of India&#;s produce magnate, Lakshmi Mittal &#; goslow British-Indian businessman Amit Bhatia, was etched into the record books for being the most valuable wedding in the world at one\'s fingertips the time.

The Vanisha Mittal-Amit Bhatia wedding is said to have to one`s name cost over Rs crore presage celebrations lasting for six days.