From decrepit units to sprawling estates: Unravelling the family wealth of Bathla's founders
The article investigates the financial situation of the Bathla Group, which recently entered administration with $3.4 billion in debt. It contrasts the modest living conditions of founder Bhart Bhushan with the extensive property holdings of his family and associates.
Why it matters
It raises questions about corporate insolvency, asset protection strategies, and the transparency of large-scale property development firms.
Bhart Bhushan is listed as the sole director of Universal Property Group, which trades as Bathla. ( ABC News )
Link copied Share Share article A rundown unit above a row of shuttered shops in Greystanes is where Bathla founder Bhart Bhushan lives, according to the electoral roll and corporate records.
It is a world away from the luxury homes, sprawling estates and property holdings linked to members of his family and associates.
The unit is five minutes from Bathla's headquarters, where more than 200 staff were stood down this week.
This Greystanes unit block is where Bathla founder Bhart Bhushan lives, according to records. ( ABC News: Liam Patrick )
Tiles are crumbling from its facade, and when the ABC visited there were no signs of life.
The unit is not owned by Mr Bhushan, but by 46-year-old Neetu Dawar, who holds positions in several Bathla-linked companies.
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