Anil Ambani has to pay Rs 5,448 Cr to Chinese banks in 21 days

Anil Ambani, the crest-fallen former billionaire, is in a soup once again.  A London court has reportedly asked him to pay $700 million to three Chinese banks.  This is related to a dispute over defaulted loans on which he had given a personal guarantee.  The judge noted in the order that Anil’s net worth is zero.  

“Anil Ambani offered a personal guarantee on the banks’ loans to his Reliance Communications Ltd. in 2012,” the order mentions.  

In Indian rupee terms, Anil has to repay Rs 5,448 Cr, that too in 21 days.  

How does Reliance see the development?

As per a spokesperson of the company, “Reliance group’s operations will not be affected by the ruling. Reliance Communications filed for bankruptcy in 2019.”  This is as per a Hindustan Times report.  

Months ago, Anil Ambani had told the London court that he doesn’t hold any “meaningful assets” at all.