Several news reports filed by a number of reporters and analysts can be found on the web. Searching through the wires using "GIHL" or "GSHL", a web user could see that even these reporters might not have gotten their facts straight. This scenario, even more becomes like a guessing game, than ever before. The reader is presented with various instances and urged to read between the lines. Here are some snapshots:
From The Analyst, 19 August 2005: NTGL rushes to sign Mittal steel deal
“The National Transitional Government of Liberia is reportedly rushing to sign and ratify the One Billion United States Dollars Mittal Steel deal before the elections, The Analyst has learned. The action comes quickly after the withdrawal of the Writ of Prohibition from the Supreme Court by Global Infrastructure Holdings Limited (GIHL).”
Note: Thus, Mittal Steel is NOT the same as Global Infrastructure Holdings Limited (GIHL).
From Keith Campbell, Engineering News, 20 Oct 2006: Indian group rejects ‘corruption cesspit’
“Reports from Zimbabwe increasingly suggest that the Indian company, Global Infrastructures, part of the Indian multinational group, Global Steel Holdings Ltd (GSHL), abandoned its contract to run the Zimbabwe Iron and Steel Company (Zisco) because of massive corruption at the State-owned steelmaker, involving high-level government officials.
The GSHL chairperson is Pramod Mittal of the famous Mittal steel family — in fact, he is a younger brother of Lakshmi Mittal, chairperson of the global Mittal Group, which includes Mittal Steel South Africa; however, GSHL is in no way connected to Mittal Steel.”
Note: Global Infrastructure Holdings Limited (GIHL) is Global Steel Holdings Ltd (GSHL)
From ‘Invest in India‘ website, 23 November 2006: Mittal Steel Company
“In August 2005 Global Steel Holdings Limited (GSHL) acquired Bulgarian Finmetals holding, which owned 71% of largest Bulgarian metallurgical plant – Kremikovtzi. Though many media (including Forbes) have announced this as a Mittal Steel company, it is not. GSHL is owned by Ispat Industries, whose ultimate owner is Pramod Mittal – Lakshmi Mittal’s brother.”
Note: It’s not Forbes which got it wrong, but other reporters quoting Forbes.
From The Industrial View, 25 December 2006: Mega Deals
“India’s steel-maker Ispat Group has bought CSKA Sofia, a soccer club in Bulgaria, for an undisclosed amount. Global Steel Holdings Ltd., a unit of Ispat Group, also owns 71% stake in Bulgaria’s largest steel mill, Kremikovtzi. Pramod Mittal, the promoter of the group, is a brother of Lakshmi Mittal, CEO of the world’s largest steel-maker Arcelor-Mittal. Although, his company is not a part of Lakshmi Mittal’s empire.”
From Bonaventure Melah of Elendu Reports, 18 April 2007: Mega Fraud at Ajaokuta
“GSHL came to Nigeria initially as ISPAT. Due to the barrage of criticisms that followed its entrance and especially reports from different quarters that ISPAT is a business name with a reputation for sharp practices, it changed its name to Global Infrastructure Holding Limited. Now it has changed again to Global Steel Holdings Limited.”
Note: Thus, from ISPAT to GIHL to GSHL! By the way the term ISPAT, means STEEL in Hindi!
From Tayo Odunlami of The News, 24 September 2007: Privatisation Scams Of OBJ’s Era
“When news first broke in 2004 that government was bringing in from India a new foreign manager for the troubled ASC, there was skepticism from stakeholders. This was particularly fuelled by the name "Ispat", which, to many uninformed, spelt the same as the respected Ispat International Limited, the number one steel conglomerate in the world, now renamed LNM. Advertently or otherwise, government officials in charge of the concessioning would not shed light on the name. But as it turned out, the new concessionaire at ASC is Ispat Industries, owned by Pramod Mittal, the younger brother of Laxmi who owned LNM. . . . When Solgas was relieved of the management of the steel complex in 2004, Ispat was asked to take over. GHIL [sic: GIHL] was then formed in 2004 mainly for the purpose.”
Note: Thus, GIHL is part of Ispat Industries. Ispat International Ltd was LNM Steel, which became Mittal Steel and then now known as MittalArcelor.
From Maitreyee Handique, Mint 02 April 2008. 10:30 AM IST Global Steel owes salaries,answers
“In India, various promoters, including Pramod Mittal and his younger brother, Vinod Mittal, own 45.95% of the publicly traded Ispat Industries Ltd, in which Global Steel owns 2.63%. Ispat has doubled its losses to Rs12 crore in the first three quarters of fiscal 2007-08, compared with a Rs6 crore loss a year earlier.”
Note: Various promoters, which includes Pramod and Vinod Mittal, only owns 45.95% of Ispat Industries International, Ltd. Global Steel only owns 2.63% of IIL, not the other way around.
From The Financial Express, March 23, 2008: Mittal keen to takeover Global Steel’s mill
“Steel tycoon Lakshmi Niwas Mittal has intensifed efforts to take control of Global Steel Holdings Ltd’s ailing Kremikovtzi steel mill in Bulgaria. The mill, run by Pramod Mittal — the younger brother of L N Mittal, has seen labour unrest and faces the possibility of being re-nationalised by the Bulgarian government.”
Note: Meaning, Lakshmi Niwas Mittal does not own Global Steel Holdings Ltd.
The Grey Chronicles 
Global Steel Holdings Limited is responsible to expoil the career of thousands of Indian. They do not pay salary for 9-12 months. They do not honour their commitments made in Appointment Letter. Nigeria Govt. should demand the appointment letter issued by GSHL and should ensure that salaries are paid, otherwise they should be forced to close the business. They issue the letter in India in Ispat Industries Office on letter of Global Steel Holdings Limited. You do the job in Nigeria, Bulgaria etc places and company’s HO is at London. So you can not go for legal battle. Sufferer prefer to search another job instead of following up with three countries. Mostly the send the person on business visa and later they convert the business visa with work visa. They do not show the appointment letter issued by them to Nigerain Govt.
If company has genuine problme, they should first solve their problem, but they are playing with career of thousand of people by sending with Nigeria with No salary payment. The factories are at remote places, where you can not move without Military protection, if you want to come, you can not come, unitl you get their permission.
In India everybody know the everbody is sellable, hence, they are safe. Yes, by writing comments on Internet sites at least we have saved life of many Indians.
Comment by anillion — 2012.April.23 @ 10:43 |
Your right, Laksmi & Pramod are two different company owners not even partners they come from one father two different mother, Pramod & Vinod using the Ispat two promote their corporations using the LNM popularity. But they are not related businesswise.
Laksmi is the best corporate wise w/ his son following his steps they will rule the world of steel.
Comment by steelroller — 2008.November.30 @ 02:25 |
Sure, d4rkhowl, you could do that, but you DO have to read between the lines to see the ‘ugliness’. News items only highlight what the editors and the writers, irrespective of journalism codes of conduct or what not, would want to highlight. The ‘what not’ could even mean a simple lack of space during the layout, or personal bias.
The post above were written after a months of research, not just on the web using Google or other search engines, but several other non-news sites. The post summarized, I believe, what some readers would take a minute or two to sieve, fathom, then comprehend the vast and numerous links provided by Google or any other search engine for that matter. Moreover, even if people searched that particular name on the web, there is exist still the probability of confusion with the difference between Ispat Industries and Ispat International Ltd, which is seen even in local journalists and reporters’ articles.
Comment by reyadel — 2008.November.26 @ 13:12 |
Just search for “Pramod Mittal” on google and see the ‘ugliness’ unveiled.
Comment by d4rkhowl — 2008.November.25 @ 15:52 |