InvestorQ : What is the issue between the Chinese banks and Anil Ambani that has been dragged to the London courts?
Debbie Mascarenhas made post

What is the issue between the Chinese banks and Anil Ambani that has been dragged to the London courts?

Answer
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Crowny Pinto answered.
8 months ago


This pertains to loans worth close to $900 billion given by a clutch of Chinese banks to the ADAG group companies, especially RCOM. These loans also carried the personal guarantee of Anil Ambani and the Chinese banks have approached the London courts to enforce the contract and make Anil pay up. However, Anil has expressed his inability to pay the amount on his own account due to the financial crunch has been in. He has also said that his net worth was close to zero due to his outstanding liabilities. The courts have not found the explanation to be credible and you need to await further progress on the subject.