LONDON: Anil Ambani, the youngest son of Dhirubhai Ambani and the youngest brother of India’s richest man Mukesh Ambani, is in a position to lose all property. Anil has to pay Rs 526 crore to three state-owned banks in China. He borrowed the money from Reliance Communications, his telecom company. He gave a personal guarantee for that loan. “It simply came to our notice then. The case is being re-assigned to another judge, the London High Court. The situation is similar to the seizure of all his assets around the world. The British High Court has ordered Anil to repay Rs 426 crore to these banks and provide a legal fund of Rs 4 crore. In this case, the court questioned Anil through video conferencing. As the State Bank of India has filed an insolvency case against Anil in India, three Chinese banks are not monitoring his assets in India. They want to get their due through Anil’s wealth in other parts of the world. The court directed Anil to list a list of assets worth more than Rs 4 lakh worldwide. Anil has been asked to provide details of all types of assets, businesses, bank balances, share certificates, etc. abroad.Anil appeared in a video conference in the UK High Court last Friday. I do not live a luxurious life. My life is very simple. I have sold all my jewelry to pay for the lawyer’s money. “I only have one car,” Anil told the court. Anil borrowed Rs 419 crore from three Chinese banks. The breach began in the early stages of drying out some of it. Since Anil gave a personal guarantee for the loan, the court is behind him.
