Scottish Government being taken for a ride by Sanjeev Gupta 

Willie Rennie MSP has today warned that the Scottish Government are being taken for a ride by controversial tycoon Sanjeev Gupta as parliamentary questions revealed that ministers have failed to secure commitments relating to financing for his Scottish businesses.

On Thursday 21st August 2025, it was revealed that the Speciality Steels UK (SSUK) – part of the Liberty Steel metals empire of controversial tycoon Sanjeev Gupta had been placed under government control, creating an uncertain future for nearly 1,500 workers in Rotherham and Sheffield, after insolvency courts granted a compulsory winding up order sought by creditors owed hundreds of millions of pounds.

According to BBC reports, a judge found the firm was "hopelessly insolvent" with £600,000 in the bank, a monthly wage bill of £3.7m, supported by a parent group that has 15 entities in insolvency proceedings across nine jurisdictions.

It was revealed in October 2024 that Sanjeev Gupta is currently facing prosecution over his alleged failure to file accounts for more than 70 companies. This follows years of media reporting that accounts for both the Dalzell steelworks – acquired by Mr Gupta from Tata Steel in a controversial back-to-back deal facilitated by the Scottish Government - and for the Lochaber aluminium plant - also owned by Mr Gupta and owing £7m in loans to Scottish taxpayers - have gone unfiled.

Willie Rennie MSP said:

"Every time I ask for basic answers about the Scottish Government's relationship with Sanjeev Gupta and the financial health of his businesses, I get the kind of deliberately unhelpful answers which suggest the government has something to hide.

"When the SNP chose Sanjeev Gupta as the preferred buyer for these businesses they shouted about their deals to the high hills. Now they have clammed up. Perhaps they are realising that they have been taken for a ride.

"I am concerned that these businesses are not on a sound financial footing and the Scottish Government could be left picking up the bill.

“Workers at the Dalzell plant have already been furloughed with no work being done at the plant, so there is no doubt they will be very worried about what this news coming out of England could mean for them.

“The Liberal Democrats have repeatedly warned the Scottish Government about the possibility that Liberty Steel operations could collapse, but so far ministers have refused to act.

“This latest development must be the catalyst for both the UK and Scottish governments to finally come together and agree a joined-up strategy for this vital Scottish business.