Friday, June 20, 2025 | 06:00 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

UK court orders Anil Ambani to pay $717 mn to Chinese banks within 21 days

Justice Nigel Teare ruled at the Commercial Division of the High Court of England and Wales in London that a personal guarantee disputed by Ambani is binding on him

Anil Ambani's Reliance Capital looks beyond Nippon Life for AMC stake
premium

Anil Ambani denies providing authority for any such guarantee, resulting in the High Court action in the UK

Press Trust of India London
A UK court on Friday directed Reliance Group chairman Anil Ambani to pay nearly $717 million to three Chinese banks pursuing the recovery of funds owed to them as part of a loan agreement within 21 days.

At a remotely held hearing, in line with procedures in place for the Covid-19 pandemic, Justice Nigel Teare ruled at the Commercial Division of the High Court of England and Wales in London that a personal guarantee disputed by Ambani is binding on him.

“It is declared that the Guarantee is binding on the Defendant (Ambani),” Justice Teare's order notes.

“It is declared