Sanjeev Gupta has sold a luxury villa on Dubai's Palm Jumeirah for $11.8 million. The sale comes at a critical time for his GFG Alliance, which faces major financial and legal challenges. Recently, a UK court placed part of his Liberty Steel business into compulsory liquidation, and courts in Singapore and Australia have also taken control of other parts of his empire. This has led to questions about the use of funds from personal asset sales to support his struggling businesses.