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Local spice and nut trader folds, owner declared bankrupt

Pars Ram Brothers said to owe money to between 10 and 17 banks; owner's wife and son also made bankrupt

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Published Mon, Mar 14, 2016 · 09:50 PM

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    Singapore

    A PROMINENT business leader within the local Indian community and his family have been declared bankrupt following the liquidation of their spice and nut trading business.

    Kirpa Ram Sharma, 60, had provided personal guarantees to a number of banks for loans extended to his company, Pars Ram Brothers, which was placed under provisional liquidation in Nov 24 last year. Mr Sharma was a director and major shareholder of the firm.

    Commodities

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