- ByStartupStory |November 26, 2022
A UK court ruled steel mogul Pramod Mittal, who is also the brother of one of the richest people in the world, Lakshmi Mittal, would go bankrupt in June 2020. Since then, he has been battling to extricate himself from the legal quagmire, but on Friday (November 25, 2022), a judge rejected his plan to pay only 0.18 percent of his 2.5 billion debt to creditors, dealing him a setback. Pramod Mittal has said he will appeal the negative ruling and has refuted the accusations.
The trustee appointed to oversee the realization of his assets so that the creditors can be paid made an application for his bankruptcy to be extended due to allegations of willful non-cooperation, which resulted in a wh…
Read the full article at: https://startupstorymedia.com/insights-pramod-mittal-the-insolvent-brother-of-steel-magnate-lakshmi-mittal-encounters-difficulty-in-a-uk-court/