Anil Ambani has said in a London court that he now has only one painting worth $ 1,10,000.
- The case of taking a corporate loan for Reliance Communications
- China’s three state-owned banks to repay Rs 5281 crore
- On the court’s order, information of properties around the world
Anil Ambani, chairman of Reliance Group, burdened with debt, said in a London court on Friday that he lived a simple life. Only walking in a car and selling jewelry are paying lawyers’ fees. Anil Ambani appeared in the High Court of London through video conferencing for the first time with taking loans from three state-owned banks in China.
Sold jewelry worth Rs 9.9 crore
Anil Ambani said that between January to June 2020, he has raised Rs 9.9 crore by selling jewelry. Now they have nothing of their own. On the question of the convoy of cars, Anil Ambani said that this is the baseless news of the media. He has never owned a Rolls-Royce car. They use only one car. Now the family takes care of them.
Court raised questions on loan taken from mother and son
During the hearing on Friday, the court questioned the credit card spending at luxury shops. Anil Ambani said that his mother Kokilaben Ambani spends on this credit card. Asked about the loan of $66 million from the mother and $41 million from the son, he said that he could not give details of the terms of this loan. However, these are not loan gifts. Ambani said in court that he was once considered among the wealthiest people in India, but now he has only one painting worth $ 1,10,000.
Anil Ambani lives a simple life
A spokesperson said that Anil Ambani is a very simple person and leads a simple life. His lifestyle is not lavish. The statement said that he is a vegetarian since birth and does not take any form of intoxication. A non-smoker who prefers to watch films at home with children instead of going out of town.
What is the matter
Anil Ambani’s company, Reliance Communications (RCom) took corporate loans from three state-owned banks in China. However, RCom failed to pay this loan. Chinese banks said that Anil Ambani had given a personal guarantee for this loan. Chinese banks had sued the London High Court to get payment from Ambani.
The High Court had ordered to pay 5281 crore on 22 May
Here, the London High Court ordered Anil Ambani on 22 May 2020 to pay $71 million to about 5281 crore rupees to Chinese banks. Also, about 7 million rupees 7.5 million pounds should be paid as legal costs. This payment was to be made by 12 June 2020. But it was not paid. On June 15, Chinese banks filed a petition seeking disclosure of his assets.
Ordered to declare assets on 29 June
On 29 June, on the petition of the Chinese banks, the court ordered Anil Ambani to declare his worldwide assets. Anil Ambani was asked to disclose all the properties in which he holds a full or joint stake. The court had sought information about all those properties, which are worth more than $1 lakh.
Loans were taken from these Chinese banks
Mumbai branch of Industrial and Commercial Bank of China (ICBC)
China Development Bank
Export-Import Bank of China