Pramod Mittal declared ‘most bankrupt’ in Britain. His brother Lakshmi Mittal is one of world’s richest persons

In 2013, Pramod Mittal came to news from spending 50 million pounds, equivalent of ₹505 crore, for his daughter Srishti’s wedding with a Dutch-born investment banker, Gulraj Behl.

Lakshmi Mittal’s brother Pramod Mittal has been declared the most bankrupt man by the London High Court as he reportedly owes £2.5 billion to various people, including his father, wife, son and brother-in-law. His brother Lakshmi Mittal, CEO of steel magnate ArcelorMittal is one of the most richest men in the United Kingdom, in India and in the world as well.

In 2013, Pramod Mittal spent 50 million pounds, equivalent of ₹505 crore, for his daughter’s wedding. (File Photo/Reuters)

The Mittals started their business in India and then spread to several locations. ArcelorMittal is headquartered in the Netherlands.

In 2013, Pramod Mittal came to news from spending 50 million pounds, equivalent of ₹505 crore, for his daughter Srishti’s wedding with a Dutch-born investment banker, Gulraj Behl.

In a statement as reported by The Times, Mittal said, “I have no personal income. My wife is financially independent from me. We have separate bank accounts and I have very limited information regarding her income. My personal expenditure of approximately 2,000 pounds to 3,000 pounds per month is mainly met by my wife and family. The legal costs of my bankruptcy are being met by another third party.”

In 2006, Pramod agreed to become a guarantor for debts of a Bosnian coke producer named Global Ispat Koksna Industrija Lukavac (GIKIL), which started his downfall. The company failed to repay $166 million.In 2019, he was arrested in Bosnia for suspected fraud and abuse of power.