STC recovers Rs 1400 cr before Mittal’s companies turn bankrupt

The State Trading Corporation (STC), a Government of India enterprise, is lucky one to recover timely its dues of Rs 1400 crore from Pramod Mittal’s company Global Steel Holdings (GSHL) and erstwhile promoter of Ispat Industries before he is declared bankrupt with £ 130 m debt after Bosnian firm he was guarantor for became embroiled in probe over links to orgnised crime. Pramod Mittal is a brother of internationally known businessman Lakshmi Mittal.