Anil Am­bani Asked to Pay ₹. 5,448 Cr to 3 Chi­nese Banks

Am­bani seek­ing le­gal ad­vice af­ter or­dered to pay within 21 days

The Economic Times - - Front Page - Our Bureau ‘Amount to Fall Post-Res­o­lu­tion’

Mum­bai: A UK court has or­dered Re­liance Group chair­man Anil Am­bani to pay $717 mil­lion (`. 5,448 crore) to three Chi­nese banks within 21 days, af­ter rul­ing that a per­sonal guar­an­tee which the In­dian busi­ness­man had dis­puted was bind­ing.

A spokesper­son for Anil Am­bani said he was seek­ing le­gal ad­vice on the fu­ture course of ac­tion. “As far as the judg­ment of the UK court is con­cerned, the ques­tion of any en­force­ment in In­dia does not arise in the near fu­ture,” the spokesper­son said in a state­ment.

The UK or­der will also not have any bear­ing on the op­er­a­tions of other Re­liance Group com­pa­nies — Re­liance In­fra­struc­ture, Re­liance Power and Re­liance Cap­i­tal, the state­ment said.

Le­gal ex­perts, how­ever, said if Am­bani didn’t pay in the next 21 days, the lenders would have the op­tion to “pur­sue all avail­able op­tions for en­force­ment of or­der”,

which could in­clude “go­ing af­ter his per­sonal as­sets and wealth”.

Jus­tice Nigel Teare of the Com­mer­cial Di­vi­sion of the High Court of Eng­land and Wales in Lon­don in his or­der ear­lier this week also asked Am­bani to pay an­other 750,000 pounds as court costs.

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