Posted by: thankeshwor September 8, 2020
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Back in 2010 Anil Ambani was the sixth richest person in the world according to Forbes, with a wealth of $42 billion. Ten years down the line though, the brother of Mukesh Ambani has pleaded poverty to a London court, claiming that he is worth nothing.
After taking over the telecom, power generation, financial services businesses post the Ambani brothers split, all of Anil’s businesses are drowning in debts, with some of them landing in the bankruptcy court.
The once billionaire is currently battling a lawsuit by three Chinese banks, which are trying to recover over $680 million they lent to Reliance Communications in 2012 under the condition that Anil Ambani personally guarantees the debt. The London court has now asked him to deposit $100 million in six weeks.
After taking over the telecom, power generation, financial services businesses post the Ambani brothers split, all of Anil’s businesses are drowning in debts, with some of them landing in the bankruptcy court.
The once billionaire is currently battling a lawsuit by three Chinese banks, which are trying to recover over $680 million they lent to Reliance Communications in 2012 under the condition that Anil Ambani personally guarantees the debt. The London court has now asked him to deposit $100 million in six weeks.