For many years, Anil Agarwal cultivated a repute as certainly one of India’s nice survivors. Starting as a scrap steel vendor, the billionaire magnate constructed a mining conglomerate to rival some other, weathering money crunches, authorities friction and disputes with Indigenous individuals over enlargement plans.

But in current months, Agarwal has confronted certainly one of his hardest acts but. The tycoon’s Vedanta Resources Ltd. has near $2 billion of bonds to settle in 2024 — half of which is due in January. Short of that, his London-headquartered firm dangers getting reduce deeper into junk and dropping essential entry to funding. That’s unhealthy information for certainly one of India’s richest males, who has lengthy dreamed of competing towards Glencore Plc and BHP Billiton because the world’s dominant pure assets provider.