Anil Ambani cornered by London Court over $717 million dues. Anil Ambani, sixth richest man of India in 2008 to claiming in February, 2020 that his net worth was ‘zero’. Also has involved himself in a strangle with the Courts of Mumbai and London.
On June 29, Master Davison of the commercial court ordered Ambani to provide an affidavit giving details of all the assets worldwide exceeding USD 100,00
The case is related to the enforcement of a personal guarantee that Anil Ambani cornered, brother of Mukesh Ambani. Furthermore submitted in order to procure a loan of 900 million dollars for Reliance Communication (RCom) from Industrial & Commercial Bank of China Ltd., China Development Bank and Export-Import Bank of China in 2012.
The UK court’s ruling also stated that if Ambani disobeyed the orders. He could be held for contempt. With imprisonment fine as punishment. The time limit given is till July 20, 2020 to comply with the directives.
On Tuesday, National Company Law Tribunal (NCLT). Mumbai also reserved it’s judgment in the case. Which was filed by State Bank Of India (SBI) to recover Rs. 1,200 Crores.
I am defending myself against these claims & firmly believe that upon the resolution of RCOM & RITL’s debt as per their Resolution Plans filed before NCLT, no amounts will remain payable to any party – Anil Ambani #RelianceAGMs2020
— Reliance Group (@reliancegroup) June 23, 2020
