 "Anil Ambani's company, Reliance Telecon, slipped into insolvency in 2019. (Photo: Bloomberg)")
A UK court on Friday directed Reliance Group Chairman Anil Ambani to pay $100 million within six weeks towards a conditional order granted to three Chinese banks pursuing the recovery of over $680 million as part of a loan agreement.
In what is, in effect, a deposit to be paid to court pending a full trial in the case, Judge David Waksman has set a six-week timeline for such a payment as he concluded that he did not accept Ambani’s defence that his net worth was nearly zero, or that his family would not step in to assist him
In what is, in effect, a deposit to be paid to court pending a full trial in the case, Judge David Waksman has set a six-week timeline for such a payment as he concluded that he did not accept Ambani’s defence that his net worth was nearly zero, or that his family would not step in to assist him
