GFG Alliance boss Sanjeev Gupta has told a British parliamentary inquiry that some of his financing arrangements with Greensill Capital were based on invoices that were expected to be generated in the future, and that most of his businesses have been hurt by the supply chain finance firm’s sudden collapse.

Mr Gupta, who has previously described the use of prospective receivables in an April letter to the Financial Times newspaper, has for the first time given written evidence about the financing schemes arranged between GFG Alliance and Greensill Capital.