Show-off proved costly! The billionaire who spent 550 crores on his daughter's wedding was forced to beg, even the beggars felt pity on seeing his condition

It is not possible to say when times will change. It sounds a bit strange that a person who spent more than Rs 550 crore on his daughter's wedding becomes bankrupt in one go, but this is absolutely true. Yes, you must have heard about Pramod Mittal, who was once among the world's billionaires. This story is of Pramod Mittal, brother of billionaire Lakshmi Mittal. A few years ago, he became bankrupt after paying two and a half billion pounds (about Rs 24000 crore at that time) to his creditors. There is not much information available on the internet about what he is doing now.

What's going on in the friend's company?

Pramod Mittal, the younger brother of steel tycoon Lakshmi Mittal, was once counted among the richest people in England. But his times changed so much that he became Britain's biggest bankrupt. 68-year-old Mittal was declared bankrupt in 2020 by the Insolvency and Company Court of London with a debt of more than 130 million pounds. Mittal, who dominates the steel business, had claimed that he had a debt of 2,549,089,370 pounds. This also includes his father's debt of more than 170 million pounds.

'I have no personal income'

The report said he also owed 1.1 million pounds to wife Sangeeta, 2.4 million pounds to son Divyesh and 1.1 million pounds to brother-in-law Amit Lohia. At the time, he had valued his assets at 110,000 pounds and claimed he had no personal income. He also said he had only 45 pounds worth of property in his name near Delhi. A British daily report at the time said Mittal was offering to pay his creditors only 0.18 paise for every pound he had borrowed.

My wife and kids are paying for my expenses

Mittal had also said at that time that I had no personal income. My wife is financially more independent than me. We have separate bank accounts. He claimed that my personal expenses of about 2,000 to 3,000 pounds every month are borne by my wife and family.

PC:Indianews