Brief by Shorts91 NewsDesk / 11:24am on 24 Aug 2025,Sunday India Global
The UK government has taken control of Liberty Steel’s South Yorkshire plants, Rotherham and Stocksbridge linked to Indian-British tycoon Sanjeev Gupta, safeguarding 1,450 jobs after a London court ordered the winding up of Speciality Steel UK (SSUK). Gupta’s GFG Alliance, once hailed as the “saviour of steel,” has struggled since Greensill Capital’s 2021 collapse, which had extended $4.5 billion in financing. The court rejected Liberty’s plea for more time, citing doubts about Gupta’s credibility. Advisory firm Teneo will manage operations under the government’s official receiver. The plants are deemed strategic assets, and independent investors may revive production. Gupta’s empire faces scrutiny amid ongoing fraud investigations by the UK’s Serious Fraud Office. (PC: Reuters)
