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Sanjeev Gupta + Liberty House


spygirl
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  • 2 weeks later...
Long time lurking

He`s buying a lot of redundant plants for penny's in the pound but they are being run by and like cowboys ,i have had the pleasure of working in one and removing the contents of another 

Rumour has it he`s just bought whats left of the old thames steel plant in sheerness 

If you read hear 

 http://www.libertyhousegroup.com/company/management/sanjeev-gupta/

It` states he owns the UK largest arc furnaces capacity in the UK i`m pretty sure this is referring to liberty steel if so yea he owns it but it`s not ruining and its condemned

Also if you read here 

 https://www.reuters.com/article/us-britain-steel/scottish-investment-hopes-rise-as-mothballed-steel-plant-reopens-idUSKCN11Y278

Quote

Dalzell is also looking to make plates for the manufacture of wind turbines

Well the guy bought Maybe Bridges renewable s operations kit for not much more than scrap prices  https://www.walesonline.co.uk/business/business-news/mabey-bridge-chepstow-site-close-9609057   ( it was state of the art kit when new and that was not to long ago )

On the whole he seems to be buying a lot but i see very little production in my part of the world other than liberty steel which are rolling imported slab 

My guess he`s looking at source to table businesses , my money is on most of the production from LS is going to his own automotive parts manufacturing interests 

Edited by Long time lurking
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  • 3 weeks later...

Sanjeev Gupta: is the steel magnate spinning too many plates?

Basically, someone who appears to have been a smal ltime commodity trader.

An insane propostion with your onw, limited capital.

Suddenly buys up loads - and I mean loads -of, to be generous, underperfoming commity-ish businesses.

Where's he getting hte money from???

https://www.ft.com/content/935de4f2-c89d-11e8-ba8f-ee390057b8c9

Swiss fund manager suspended and returns money to investors after find out it had bought loads of Guptas onds.

“He thinks laterally, and sometimes that’s exploring the art of the possible.”

He's a trader. He need to think about profitable and liquidity.

 

 

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UnconventionalWisdom

I've worked with guys in the steel industry and they say his products are crap. Whats worst is they import slab from their production plant in the other side of the world. 

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Long time lurking
4 hours ago, UnconventionalWisdom said:

I've worked with guys in the steel industry and they say his products are crap. Whats worst is they import slab from their production plant in the other side of the world. 

Most of what he produces at this point in time goes to his own plants producing parts for the motor industry,subframes and suspension parts and as you say quality it`s not 

But on the other hand some car manufacturers don`t mind in fact they want it that way 

 

15 hours ago, spygirl said:

Sanjeev Gupta: is the steel magnate spinning too many plates?

Basically, someone who appears to have been a smal ltime commodity trader.

An insane propostion with your onw, limited capital.

Suddenly buys up loads - and I mean loads -of, to be generous, underperfoming commity-ish businesses.

Where's he getting hte money from???

https://www.ft.com/content/935de4f2-c89d-11e8-ba8f-ee390057b8c9

Swiss fund manager suspended and returns money to investors after find out it had bought loads of Guptas onds.

“He thinks laterally, and sometimes that’s exploring the art of the possible.”

He's a trader. He need to think about profitable and liquidity.

 

 

I would say that`s a very good question

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  • 3 weeks later...
  • 1 month later...
53 minutes ago, Long time lurking said:

 The link is behind a paywall but i`m pretty sure i know why that has happened if it`s what i`m thinking ...dose it concern the Newport plant ?

Nope.

Hes not got much money.

Mouth no trousers.

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  • 4 months later...

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https://www.ft.com/content/54f7c0da-aa2d-11e9-b6ee-3cdf3174eb89

They have a challenger bank, Wyeland, in the GFG group, funnelling cash/investments to the group.

Appears hes got every scam going, pouring money into a low value commodity play.



Bruce Lee 40 minutes ago This is called funneling. The best case study I know is how entire Turkish banking system went down back in 93-99 entirely due to funneling. As the total balance sheet of the sector was tiny at the time IMF bailed it out.  TYT Bank, Marmarabank, İmpeksbank, Türk Ticaret Bankası, Egebank, Etibank, İktisat Bankası, İnterbank, Yurtbank, Sümerbank, Bankekspres, Demirbank, Yaşarbank, Bankkapital, Esbank, were those that were shut down, essentially they were all Wyelands Banks of that world. 

 

Oh really32 minutes ago

Good article. WHEN this Bank goes bust - no one can hide and say they didn't know

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  • 1 month later...

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https://www.ft.com/content/dd89d350-cafa-11e9-a1f4-3669401ba76f

Argument with RioTnot over final payment.


There is also concern among lenders who provided a $350m loan to finance the deal. One of the banks has sold off its chunk of debt, according to people familiar with the matter.

The revelations are likely to add to scrutiny of GFG Alliance, a loose collection of Gupta family interests including Liberty House that has expanded into a business empire with $20bn in annual revenue and 30,000 employees.

GFG, which is not itself a formal company or a legal entity, has activities spanning metals and manufacturing to power, property and banking. But its acquisition-fuelled growth has led to questions around its finances and strategy.

It then gets worse......

oull have to get  sub o read it.

Taken from comments:

 

Annoying dude13 hours ago
 
 

14% annual interest rate for an highly levered cash burning business. Sounds a great investment.



David Platt 2 hours ago I feel sorry for the investors in the Credit Suisse Nova and Virtuoso Supply Chain Finance funds. These funds, managed by Greensill Capital, have over $1bn of Gupta-related assets, largely uninsured. When the wheel stops spinning, they'll discover just how safe “supply chain finance” really is.



Alan Touring 1 hour ago Talk to any experienced banker, they'll tell you all about invoice fraud, reinvoicing etc. It happens every day, that's why they charge large margins. The online platforms are just lambs awaiting slaughter- look at Urica, recipient of £10m of UK taxpayer money in 2016, plus investments from several professional asset managers, taken down by fraud. Capital Springboard in Singapore, Avalon in Switzerland, Noah Holdings (Camsing) in China... If it looks too good to be true, it is.

Yossarian 3 hours ago Ah. The beginning of the end. You could see this was going to happen four years ago but banks just couldnt help themselves by chucking money at Liberty.

 

And this is why you do not bail banks out.

They are idiots.

 

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https://www.ft.com/content/c87406fa-cf25-11e9-b018-ca4456540ea6


Sanjeev Gupta has held talks with JPMorgan to launch the first high-yield bond backed by part of his sprawling industrial empire, after plans for a stock market flotation of his Australian steel division foundered.

Hmmm..... No/low business offers high yield bond.

 

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Wyelands Bank launches review after regulatory probe

Bank owned by Sanjeev Gupta may have breached rules on lending to ‘connected entities’

https://www.ft.com/content/a591c986-5983-11ea-abe5-8e03987b7b20



A UK retail bank owned by industrialist Sanjeev Gupta is launching an independent review of its lending practices and financial controls, after regulators found that entities to which it lent money may have had a “closer relationship” to the Indian-born entrepreneur’s family business empire “than would typically be expected”.

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  • 5 months later...

Sanjeev Gupta’s bank faces potential losses over failed commodities trader

Wyelands provided funding to collapsed trading firm Phoenix Commodities

https://www.ft.com/content/5930a030-5c14-46e6-a0ec-1b85a011b134



A bank owned by British industrialist Sanjeev Gupta faces tens of millions of pounds in potential losses, after providing more than $100m of funding to a Dubai-based rice trader that recently collapsed.

Wyelands Bank, which began offering attractive deposit rates to UK savers in 2017, supplied financing to agricultural commodities specialist Phoenix Commodities, according to four people familiar with the matter and documents seen by the Financial Times.

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Well, if you lend money to a firm called 'Phoenix' anything, you deserve everything you get.

What next?  They lent money to 'Thief Inc' and 'Fraud.com'?

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  • 4 weeks later...
  • 1 month later...

Eeh, hes at it again, the naughty little Indian *

* - other more libellous terms are available.

Sanjeev Gupta-linked companies with 11 staff took millions in UK loans

Greensill Capital provided state-supported funding to entities with ties to steel magnate

https://www.ft.com/content/9c12a439-4bfd-4cce-bf74-4bd7d7ffe238



SoftBank-backed Greensill Capital has provided tens of millions of pounds of UK government-guaranteed loans to two companies associated with British steel magnate Sanjeev Gupta that employ just 11 people.

Greensill, which employs David Cameron, the former prime minister, as an adviser, was approved in June to be a lender through the UK’s Coronavirus Large Business Interruption Loan Scheme (CLBILS), which offers borrowers a maximum £200m in debt, with the government on the hook for 80 per cent.

 

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