A Tasmanian smelter has collapsed and left hundreds of locals out of work after its Indian billionaire owner Sanjeev Gupta stripped it of about $200 million to prop up his UK operations, administrators have stated.
Coincidentally Sanjeev Gupta was the owner of the Whyalla steel works. The South Australian Government using special emergency legislation to force it into voluntary administration after receiving hundreds of millions of taxpayer dollars.
And., a couple of his separate local subsidiary companies in the area like Whyalla Ports and Ferretti International have recently been forced into liquidation.
Gupta, held fundraisers for the ALP and had prominent ALP politicians and advisors attend lavish parties at his rented Sydney mansion.
