Pramod Mittal

Last updated

Pramod Mittal
Personal details
Born (1956-09-01) 1 September 1956 (age 68)
India
SpouseSangeeta Mittal
ChildrenVartika, Shrishti & Divyesh
ProfessionBusinessman

Pramod Mittal (born 1 September 1956) is an Indian businessman who was the chairman of Ispat Industries Limited (now JSW Ispat Steel). [1] [2]

Life and career

He was married to Sangeeta Mittal. The Couple has three children; Vartika, Shrishti and Divyesh. His elder brother is Lakshmi Mittal [3] who is also a Businessman. He spent $82 million on his daughter's wedding in Barcelona. [4]

In March 2019, the Supreme Court in India dropped charges against him after he paid money owed to a public sector enterprise. [5]

Lakshmi Mittal, the Indian steel magnate, chairman and CEO of ArcelorMittal, has taken the baton of Indian brotherhood forward by paying off his brother's debt. [6]

He is owner of Global Steel Philippines in Iligan which he acquired in 2004. Then President Gloria Macapagal Arroyo witnessed his acquisition of the Mill which was formerly known as the National Steel Corporation or NSC-which for many years was known as Asia's first and largest. President Arroyo's maternal roots are also from Iligan. In 2019, the cantonal court in Tuzla had ordered Mittal to also deposit nearly €11 million for alleged damages to GIKIL. [7] He was declared bankrupt on 19 June 2020 in a London court. [8] [9]

In October 2021, Pramod Mittal was named in the Pandora Papers. [10] In 2023 he was charged with "heading an organised crime group" that allegedly helped him syphon around €11 million (USD 12 million) from Global Ispat Koksna Industrija Lukavac (GIKIL). He co-owned the plant near Tuzla in northeastern Bosnia with the local government. Various other charges include illegally taking control of the metallurgical coke producer despite failing to invest €23 million, or more than half the amount he committed to invest in 2003 in return for the 51 per cent stake in the company. [11]

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References

  1. ↑ Mazumdar, Ramhi & Vyas, Jwalit (28 January 2014). "Younger brothers of Lakshmi Mittal, Pramod and Vinod, going their own ways". The Times of India. Archived from the original on 31 January 2014. Retrieved 5 November 2014.
  2. ↑ "Rebirth of National Steel Corp.a landmark event". Philstar.com. Retrieved 8 November 2020.
  3. ↑ "Pramod Mittal spent 60 million Euros on daughter's lavish wedding?". moneylife.in. 10 December 2013. Retrieved 5 November 2014.
  4. ↑ "Pramod Mittal Spent $82 million on Daughter's Barcelona Wedding". IndiaWest. 12 December 2013. Retrieved 23 July 2019.
  5. ↑ "Supreme Court quashes criminal cases, lookout notices against Pramod Mittal". The Economic Times. 20 March 2019. Retrieved 23 July 2019.
  6. ↑ "Pramod Mittal GIKIL". popox.com. 27 March 2019. Retrieved 27 March 2019.
  7. ↑ "Lakshmi Mittal's brother Pramod Mittal charged with organised crime in Bosnia". Deccan Herald. 26 January 2023. Retrieved 19 February 2023.
  8. ↑ "Lakshmi Mittal's brother Pramod Mittal's bankruptcy case is going on and on. Here's why". Moneycontrol. 18 February 2023. Retrieved 19 February 2023.
  9. ↑ Tobin, Sam (25 November 2022). "Pramod Mittal's deal with creditors revoked by London court". Reuters. Retrieved 19 February 2023.
  10. ↑ "How Pramod Mittal 'owed' $1 bn to Pramod Mittal — and got his deal". The Indian Express . 6 October 2021. Retrieved 6 October 2021.
  11. ↑ "Lakshmi Mittal's brother Pramod Mittal charged with organised crime in Bosnia". Deccan Herald. 26 January 2023. Retrieved 19 February 2023.
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