Anil Ambani Tells UK Court He Owns Nothing Meaningful

Industrialist Anil Ambani on Friday appeared before the court in the United Kingdom for cross-examination in a loan repayment case.

In February 2012, he took a loan of over $700 million from three Chinese banks which he provided a personal guarantee to. The company defaulted on the loan which the banks have sued it for.

The industrialist told a court that he owned nothing meaningful and he leads a simple life and drives one car and owes his family money.

Anil Ambani said he had sold all his jewellery to pay his legal fees. He had received Rs 9.9 crore for all the jewellery between January and June 2020.

On May 22, a court in the UK had ordered Anil Ambani to pay nearly 5,447 crore to three Chinese banks, within 21 days.  But the amount was not paid within the specified time period.

On the non-payment of the dues, the banks asked for his assets to be revealed. Eventually, the court ordered him to declare his worldwide assets on June 29 through an affidavit.
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