Mauritius-based Wadia Group company took $300 million loan from Deutsche Bank

Leila Lands, a Mauritius-based Wadia Group company took loans worth $300 million from Deutsche Bank in FY 2021-22, the same period the company created fixed deposits worth 190 million which were used to secure funds for Go First from Deutsche Bank, reports Economic Times. Leila Lands took the loan by creating a charge on the account of the London-based parent of Britannia Industries, as per filings by Leila Lands and Associated Biscuits International Ltd, that owns 44.76% stake in Britannia Industries. Leila Lands confirmed that it raised money from Deutsche Bank but denied having any connections with the group’s shareholding