Rear Window

Sanjeev Gupta’s largest creditor leads an Insta-rich life

NRW Holdings has been revealed as Whyalla’s biggest creditor. The company’s CEO has been globetrotting while the Gupta debts hit home.

Mark Di StefanoColumnist

Feb 25, 2025 – 5.00am

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If the good people of Whyalla know anything, it’s to be wary of out-of-staters flashing their wealth around.

They hold a special kind of resentment for failed British steel tycoon Sanjeev Gupta, whose trail of unpaid invoices prompted South Australian Premier Peter Malinauskas to force his OneSteel Manufacturing into administration. Now comes the part where KordaMentha collects everyone’s creditor claims (again), assessing how many cents on the dollar each will get.

Mark Di Stefano is Rear Window columnist, based in the Sydney newsroom. He previously worked at BuzzFeed, the Financial Times and The Information before joining the Financial Review as a media and tech correspondent.