Brother Saga Continues, After Ambani, Lakshmi Mittal Cleared His Brother Dues Of ₹1,600 Cr

A week ago, it was Mukesh Ambani who at last minute rescued his brother Anil Ambani from Jail by clearing Ericsson’s dues. Now, it is Lakshmi Mittal who extended his love to his younger brother with four times the amount Mukesh Ambani paid for his younger brother.

Lakshmi Niwas Mittal the steel tycoon has paid ₹1,600 crore to help his debt-ridden young brother. Lakshmi Mittal paid ₹1,600 crore — a significant part of the Rs 2,210 crore due from Pramod Kumar Mittal.

According to reports, to avert legal proceedings, L N Mittal helped his cash-strapped younger brother Pramod Kumar Mittal clear dues he owed the State Trading Corporation of India Ltd.

Lakshmi Mittal and Pramod Mittal

Pramod Kumar Mittal, Owner of Global Steel Holding, thanked his elder brother L N Mittal for helping him to clear the dues same like the younger Ambani.

“I am very grateful to my brother Lakshmi Mittal for helping settle the liabilities to State Trading Corporation of India NSE 0.67 %. This generosity ensured compliance with the order from the Supreme Court,” he told PTI.