Debt Loan Case: Anil Ambani Said I Am Bankrupt in UK High Court

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Anil Ambani Bankrupt Case

Industrial and Commercial Bank of China, China Development Bank and Exim Bank of China filed a case against Ambani in a London court.  This bank of China has given $700 million as aloan to Reliance communication which is around 5000 crore in the year 2012 but Anil Ambani hasn’t paid this amount and bank also claims that Anil Ambani was the guarantor of the loan.

In this case Anil Ambani said on Friday which was argued in the England High Court that his net worth is zero, he is not able to repay the loan amount of the Chinese banks and no one is there to help with such amount for the repayment of loan amount. But, the court rejected the arguments of Ambani’s lawyers and ordered to deposit $ 100 million  which is around Rs 714 crore  in next 6 weeks.

Judge David Waxman said that there is no any transparency in the defense arguments made by Anil Ambani citing the financial situation after listening to both the sides in England high court.

Ambani’s lawyers told the court that the value of his client’s investment in 2012 was $ 700 million and now it is zero and after this The lawyer bank questioned Ambani’s lifestyle and his expenses, and also told to the court Anil Ambani as having 11 luxury cars, a private jet, yacht and rent-free access at Sea wind Penthouse in South Mumbai.

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