Mauritius-based Wadia Group company took $300 million loan from Deutsche Bank
A Mauritius-based Wadia Group company took loans worth $300 million from Deutsche Bank during financial years 2021 and 2022, by creating a charge on the bank account of the London-based parent of Britannia Industries. During the same period, the company created fixed deposits worth $190 million that were used to secure financing for Go First from the German lender.
This information is collated per security filings in the UK, India and Mauritius reviewed by ET. The filings were made by Leila Lands Limited (LLL), the Mauritius-based Wadia Group company, and Associated Biscuits International Limited (ABIL), the London-based company which owns 44.76% stake in the listed Britannia Industries.
