Bhaskar Shetty murder: Trio remanded in judicial custody till Aug 24

Bengaluru, Apr 8: Karnataka government has decided to postpone its first mass marriage ('Saptapadi') scheduled for April 26 due to lockdown in force, Minister for Muzrai, Port and Fisheries Kota Srinivas Poojary said here on Tuesday.

Talking to media here, he said that the first phase is likely to be clubbed with the second phase to be held on May 24. However, it all depends upon the situation prevailing at that time.

The state government had proposed to conduct the mass marriage scheme at select Muzrai temples in two phases on April 26 and May 24. Around 2000 applications with due documents were received for mass marriage from those who wished to tie the nuptial knot.

Bengaluru, Jul 17: The Doctors at Fortis Hospital, here on Friday, successfully treated a 97-year-old patient who suffered an embolic stroke due to calcified stenosis (narrowing of an artery resulting in restriction of blood flow).

In a release, the Hospital authorities stated that the team of doctors led by Dr Rajpal Singh, Director and Interventional Cardiologist, Fortis Hospital, Bangalore successfully conducted Carotid Artery Stenting (CAS) to increase the blood flow in the blocked areas which had resulted in stroke following stringent safety protocols and ensuring proper segregation of COVID and Non-COVID patients at the hospital.

Carotid arteries serve as the main channels which supply the blood flow to the brain and facial structures. Any significant narrowing in these arteries can cause a brain stroke, a mini-stroke, headache, and neurological symptoms.

Mumbai, Feb 8: Anil Ambani, the brother of Asia’s richest man has pleaded poverty in his dispute with three Chinese banks seeking $680 million in defaulted loans.

“The value of my investments has collapsed,” Anil Ambani said, according to a court filing by the banks in a London lawsuit.

“The current value of my shareholdings is down to approximately $82.4m and my net worth is zero after taking into account my liabilities. In summary, I do not hold any meaningful assets which can be liquidated for the purposes of these proceedings.”

The lawsuit was filed by three state-controlled Chinese banks which argue that they provided a loan of $925 million to Ambani’s Reliance Communications Ltd. in 2012 with the condition that he personally guarantee the debt. The comments were disclosed on Friday as Ambani sought to avoid depositing hundreds of millions of dollars with the court ahead of a trial.

The embattled Indian tycoon says that while he agreed to give a non-binding “personal comfort letter,” he never gave a guarantee tied to his personal assets -- an “extraordinary potential personal liability.”

The 60-year-old is the brother of Mukesh Ambani, who’s worth $56.5 billion and is the wealthiest man in Asia. Anil, on the other hand, has seen his personal fortune dwindle over recent years, losing his billionaire status. His Reliance Communications filed for bankruptcy last year.

The banks asked Judge David Waksman to force Ambani to put up $656 million into the court’s account.

Representatives for Ambani’s Reliance Group said they couldn’t immediately comment. They said the group will issue a statement once the court issues the final order.

Ambani’s lawyer, Robert Howe, said the court shouldn’t order his client to make a payment he can’t make. The tycoon argues that an order requiring him to do so would hinder his ability to defend himself in the case, Howe said.

“There’s no evidence of some giant pot of gold that he can pull $1 million, let alone $10 million, let alone $100 million,” Howe said.

Bankim Thanki, an attorney representing Industrial & Commercial Bank of China Ltd., China Development Bank and the Export-Import Bank of China, said in a filing that Ambani’s statements are “plainly a yet further opportunistic attempt to evade his financial obligations to the lenders.”

Ambani was caught up in another legal wrangle last year when India’s Supreme Court threatened him with prison after Reliance Communications failed to pay Rs 5.5 billion ($77 million) to Ericsson AB’s Indian unit. The judges gave him a month to find the funds, and his brother, Mukesh, stepped in just in time to make the payment.

Anil said in a filing that he recognized that the judge would want to know if he could satisfy any order to put up funds from outside resources, including his family.

“I can confirm that I have made enquiries but I am unable to raise any finance from external sources,” he said. Judge Waksman had said in an earlier ruling that he believed Ambani’s defence would be shown to be “opportunistic and false.”

Ambani’s lawyer told the judge that as a result of the comments the tycoon’s relatives were unlikely to lend any funds.

There is a “very substantial risk they will never get it back,” Howe said.