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$717-mn loan case: China banks will have to move Indian courts against ADAG

Anil Ambani, chairman of the ADA group, can challenge the order by the Commercial Division of the High Court of England

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The ADA group has said Ambani is seeking legal advice and the UK court order will have no bearing on the operations of its other group companies

Dev Chatterjee Pavan Lall Mumbai

4 min read Last Updated : May 25 2020 | 1:18 AM IST

Anil Ambani, chairman of the ADA group, can challenge the order by the Commercial Division of the High Court of England and Wales, London, which said a personal guarantee disputed by Ambani is binding on him, say corporate lawyers.

At the same time, Chinese banks will have to move Indian courts to enforce the order in India, they said. The British court on Friday asked Ambani to pay nearly $717 million to three Chinese banks within 21 days. The banks are pursuing the recovery of funds as part of a loan agreement with Reliance Communications.

The ADA group has said Ambani is

Topics : Anil Ambani ADAG RCom Reliance ADAG Chinese banks

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