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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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The Business Times understands that Mr Sharma, having liabilities of more than US$130 million, had filed for his own bankruptcy.

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

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