Report Out Of London “Raises Fears” About The Finances Of Sanjeev Gupta

Feb 11, 2019


Whyalla “white knight” and newly announced Port Adelaide sponsor Sanjeev Gupta is the subject of a London Times report questioning the “financial health” of his GFG empire.

Following reports GFG has been late paying local SA businesses, Mike Smithson from 7 News told FIVEaa breakfast on Monday:

“It’s not just here. I’ve noticed in the Times of London a screaming headline has just come out in the last hour or so: ‘Steel tycoon Sanjeev Gupta raises fears by delaying accounts. The steel tycoon Sanjeev Gupta’ -- and this is out of London -- ‘has delayed publishing the accounts of more than 20 companies raising new questions about the financial health and transparency of his fast-growing empire.’

“So one wonders if the London Times are running a story about Sanjeev Gupta in Europe and similar stories here, I just hope that he is financially what he seems.

“If you’re waiting up to 120 days for payment and you are business that is hurting and you’ve got suppliers that you have to pay, just because Mr Gupta runs a global empire I don’t think that excuses him from paying his accounts in a timely fashion.”

WILL: “You hope for the people of Whyalla that they’ve got this one wrong because that would be devastating.”