But Mr Greensill, who also refused to appear before the business committee, has acknowledged offering future receivables programs to clients.
The committee had asked Mr Greensill to answer written questions on the nature of the schemes but is yet to release his response.
The UKs Serious Fraud Office is investigating suspected fraud at GFG Alliance and its financing arrangements with Greensill Capital.
Mr Gupta said while some of his businesses were not exposed to Greensill Capitals financing, including its US steel operations, the vast majority were affected by the firms collapse in March.
With hindsight, GFGs concentration on one financial provider risked instability, he said. It is not something GFG would repeat.
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