Arrium went into voluntary administration the year before with debts of $2 billion, having reported an annual loss of $1.9 billion.
Through his Gupta Family Group (GFG) Alliance of family-owned businesses, Mr Gupta has gone on a multi-billion pound global spending spree over the past four years, snapping up distressed industrial assets.
However, questions have been raised about the health and transparency of the interlinked businesses, with lawful delays to accounts of his companies and allegations of delayed payments to some suppliers.
Others have asked how the industrialist can successfully run businesses which others have found impossible to make profitable.
It is understood GFG aims to list between 30 per cent and 40 per cent of its Aust…
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