Anil Ambani ordered $100 million of his disagreement:
The brother of Asia’s richest man Anil Ambani ordered to set aside $100 million of his disagreement:
Anil Ambani ordered $100 million for his disagreement with three Chinese banks, “The investment value of my company has collapsed”, said Anil Ambani. According to the London court filing by bank’s desire to obtain around $700 million as defaulted loans.
“My assets are zero after taking into account of my liabilities. I don’t hold any assets which convert into money for the purpose of these proceedings”, said Anil Ambani.
The lawsuit filed by the Chinese banks, that they provided a loan of $925 million to Ambani’s Reliance Communications Ltd. The conditions in 2012 that personally guarantee the debt. But, Ambani’s comments disclosed that he tried to avoid depositing hundreds of million dollars.
On Friday, Judge David Waksman ordered Ambani to deposit $100 million into the court’s account within six weeks.
The Mukesh Ambani, who’s assets are 56.5 billion and he is the richest man in Asia. Besides, Anil Ambani faces personal failures in recent times, losing his billionaire status. Recently, his Reliance Communications closed there functioning due to the losses last year.
Anil has “more assets and income than he’s showing to court”, the judge said. I am dealing with the Asia Richest Family who have helped each other in the past, said Waksman. Anil’s lawyer on the other side requested the court not to order my client to make payment. Mr. Ambani is reviewing the order of the U.K court and will take legal advice to further remedies to appeal in court”, Ambani’s Reliance Group said.
Ambani faced another legal dispute last year. India’s Supreme Court threatened him with prison after Reliance Communications failed to pay 5.5 billion rupees to Ericsson AB’s Indian unit. The judges gave him a month for gathering funds, and his brother, Mukesh, helped at the last minute to make the payment.