 "Lenders jittery as Anil Ambani's wealth falls 26% since January to $1.2 bn")
Reliance Communications’ (RCom’s) creditors are worried because promoter Anil Ambani’s personal net worth has declined by 26 per cent since January this year to $1.2 billion, thanks to a steady fall in the share prices of group companies.
According to statistics collated by Bloomberg, Ambani has lost close to $408 million of personal wealth year-to-date until Tuesday.
“It looks that the chances of our money coming back are slim,” said a Mumbai-based lender.
RCom owes Indian banks close to Rs 45,000 crore and has not paid its dues since June 2017. It has now moved the National
According to statistics collated by Bloomberg, Ambani has lost close to $408 million of personal wealth year-to-date until Tuesday.
“It looks that the chances of our money coming back are slim,” said a Mumbai-based lender.
RCom owes Indian banks close to Rs 45,000 crore and has not paid its dues since June 2017. It has now moved the National
