Former steel magnate Pramod Mittal. (Image: Bloomberg)
In June 2020, Pramod Mittal, brother of one of the richest men in the world, Lakshmi Mittal, and himself a steel magnate, was declared bankrupt by a UK court. Since then, he has been fighting to get himself out of the legal mess, but on Friday (November 25, 2022), he received a setback after a judge revoked his proposal to pay just 0.18 percent of his 2.5 billion debt to creditors. Pramod Mittal has indicated he would be appealing the adverse judgment and has denied the charges.
As per the procedure he would have been automatically discharged from bankruptcy 12 months after the date of being declared one, but allegations of willful non-cooperation meant that the trustee appointe…
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