But doubts have continued to circulate about the property tycoon's financial backing, as Pompey toil on the pitch.

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The two men operated from offices in Mayfair in London where Kallakis pretended to be a property tycoon and Williams posed as a financial consultant.

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The bank was originally co-founded by Kotak and tractor tycoon Anand Mahindra in 1985 as a small financial services firm which acquired a banking licence in 2003.

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His efforts to prise Harrods store from another less-than-popular tycoon, Mohamed al-Fayed, gave entertainment to millions but in the financial establishment was seen as an unseemly public brawl.

ECONOMIST: Tiny Rowland