IMG CREDIT : Youtube / TOP 10 HINDI
1. Pramod Mittal: The Bankrupt Billionaire
Pramod Mittal, brother of Lakshmi Mittal, once stood among the world's wealthiest individuals. However, his lavish spending and risky business decisions led to bankruptcy. Mittal, co-owner of Global Ispat Koksna Industrija Lukavac (GIKIL), defaulted on loans totaling $16.6 million, triggering financial ruin.
2. Raveendran: A Billionaire's Financial Crisis
Raveendran, with a net worth of $5 billion, faced dire straits after investing heavily to rescue his sinking company. Leveraging personal loans and staking his company shares, Raveendran found himself cash-strapped, highlighting the dangers of personal financial entanglements.
3. Byju's: Edtech Startup in Turmoil
Byju's, once a promising edtech startup, now grapples with financial woes. Defaulting on a $1.5 billion term loan and facing legal battles, Byju's valuation plummeted amidst a cash crunch. The Board of Control for Cricket in India (BCCI) added to its woes with legal action over unpaid dues.
4. Malvinder and Shivinder Singh: A Wealthy Duo's Debt Disaster
Once ranked among India's richest, the Singh brothers faced a staggering debt of 13,000 crores. Misappropriating funds and selling their stake in Ranbaxy led to financial ruin, tarnishing their once-flourishing business empire.
5. Nirav Modi: From Diamonds to Debt
Nirav Modi's alleged involvement in the PNB scam saw his assets dwindle from Rs 13,000 crore to a debt of over Rs 30,000 crore. Facing legal charges, Modi's downfall highlights the consequences of financial misconduct.
6. Mehul Choksi: The Fugitive Jeweler
Accused in the PNB scam, Mehul Choksi's net worth plummeted from Rs 1150 crore to a mere Rs 23 crore. Fleeing the country, Choksi's tale serves as a cautionary reminder of the perils of financial fraud.
7. Subhrato Roy Sahara: The Fall of a Corporate Giant
Subrata Roy Sahara's Sahara group faced a major setback due to irregularities in IPOs, resulting in a fine of Rs 12,000 crore. Roy's ambitious plans led to the downfall of his once-thriving business empire.
8. Anil Ambani: From Billionaire to Bankruptcy
Once among the world's top billionaires, Anil Ambani's reckless investments and mounting debt led to financial ruin. His separation from the Reliance Group marked a stark contrast to his brother Mukesh Ambani's continued success.
9. Vijay Mallya: The Fugitive King of Good Times
Vijay Mallya's extravagant lifestyle and defaulted loans saw him flee the country, facing charges of financial misconduct. Declared a fugitive, Mallya's empire crumbled, serving as a cautionary tale of excess and irresponsibility.