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MPs call for inquiry into Liberty Steel tycoon Sanjeev Gupta
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The metals tycoon Sanjeev Gupta should be investigated for potential breaches of his duties as a company director, according to a scathing report by MPs that said his leadership threatened the future viability of Liberty Steel.
Liberty Steel has lurched through eight months of crisis after the March collapse of its key financial backer, Greensill Capital, triggered an ongoing attempt to find new lenders.
Gupta controls Liberty Steel through GFG Alliance, an informal group of companies that employs as many as 35,000 people worldwide, including about 3,000 in UK steel.
GFG has been the object of persistent concerns over its corporate governance, and the government in March rejected its request for a £170m bailout because of its opaque corporate
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