The iconic success story of Lakshmi Mittal has entered a nightmarish chapter. For a happy end, he must defeat the goblins of debt, vanishing demand and mills that are gluttons for cash
On April 29, 2009, at a conference call with analysts and journalists from around the globe, Lakshmi Niwas Mittal spoke about the slump in the global steel market and the mound of debt that burdened ArcelorMittal. He had the unpleasant job of announcing the second straight quarter of losses in his business empire that had never made a loss before.
(This story appears in the 04 June, 2010 issue of Forbes India. To visit our Archives, click here.)