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.
Comments
@suresh
There is no question of seeing One true God in this world. Only Moses has seen him.
Allah will appear as it is on the day of judgement, before the believer.
If u don't believe in one true God, u will also be refrai
@Suresh
There is no guarantee that you will see after death?
Thats only non-believers believes so.
Thats why Allah says. I will appear as it is, before the believers.
@ True Indian, There is no guarantee that you will see after death. Who knows. who has seen that. But I was asking about SEEING GOD WHEN ALIVE. And if you are really Interested in seeing God when alive, that's special. You check in your books on How to se
@Suresh
If u follow Vedas. According to Vedas. God has no image. That means u cannot see God at all. This life and next life.
Atleast Believers can see Allah. During the Day of Judgment.
@True Indian, 1) Idol is not god, Its just an asan or a seat offered to God. 2) A seat can be anything - a coconut, Water kalsh, A fruit, A rangoli drawn ( Mandala), A betelnut-pan leaf, 3) God is invoked by saying certain prayers, 4) He is invited and of
@Suresh
If u follow Vedas. According to Vedas. God has no image. That means u cannot see God at all.
@Suresh
Only moses have seen Allah. Others can see during the day of judgement.
Why wait 100 years. Sabar ka fal meeta hota hai.
And it will be so exiting.
How many idol god and godman u seen in total.
If
@Suresh
Question : Have u seen God
Answer: Inshallah during the day of Judgement, i will see God.
@Suresh
In Hinduism Praying to God is Called sashtang namaskar, Touching the eight Parts of ur body.
In Islam, we have to touch eight parts of the body while praying namaz.
Some one asked, Why to call Allah why cant
@Suresh
What if the idol falls accidently and breaks. if it cant help it self, How can it help others.
What if the God doesn't like the Idol u made.
What if he doesn't like anyone to make his idol, If God thinks it is an i
@True Indian, There is one strange question awaiting for you, You just answer HAVE U SEEN GOD? Simple question I am asking you? is anywhere in book does god mentions how to see him when you are alive? Everything is promised after death, then I wonder why
@Suresh
Eg: if u go to job interview. There are 2 possibilities.
If u pass the job interview u will think, from matas blessings u pass the interview.
If u fail the interview. U will think it because of previous karma u fai
@Suresh
God powers are put into Idols,
Show me the verse which says so. Its the poojarys who says so. Or else their business will be shut.
so you agree GOD HAS GOT SHAPE?
I never denied that. But he doesn't need to take human forms. And write exams for u. But vedas says god has no image. But u people are worshipping many things.
U people even worship sachin, dhoni. Thinking that god is -laying cricket.
Vedas says don't worship idols. But u worship idols
Quran says god can hear and see. And we cannot imagine how he looks like. But we don't worship his creations.
Pnz read previous answers fully. Don't pick one verse. And argue
@ TRUE INDIAN,
YOU DID'NT ANSWER MY QUESTION.
\HAVE YOU SEEN GOD\","
@Suresh
Show me a single verse in ur religious scripture which says worship idols.
Every where it says dont worship the dummy gods. U will go into more darkness.
U people says that there are many God's in human form. And ur talk
@TRUE INDIAN,
there is pure science behind IDOL installation, TEMPLE construction.
To understand this you have to read 'AGAMA SHASTRA\
Just like how you say gods words & instructions have to be put into holy books, same way Gods powe
@TRUE INDIAN, so you agree GOD HAS GOT SHAPE?
Thats what we Hindus say. God is with form & without form.
He can take any form. And you were denying it, quoting from scriptures.
SO NOW YOU SAY GOD HAS GOT SHAPE.
he made adam
@Suresh
Good question?
then tell me what the believers are going to see, when you say... na tasya prathima asti... there is no image of god, if god is formless what are they going to see and how their joy of seeing god will be double
@TRUE INDIAN,
and prophet asked if we can see god on the day of resurrection, read the 3rd point, it says \ seeing god will be a favour..that is additional to paradise. only believer will see GOD, and non-believer will be deprived of seeing god. IF
@suresh
Ur question: Have u seen God.
My answer: Have u seen Air. No. but Air is there.
@suresh
What about a r rahman. He was a brahmin. Is this also false.
@suresh
“There is nothing like Him, but He is All-Hearing, All-Seeing.” (Quran 42:11)
“There is nothing comparable to Him.” (Quran 112:4)
“Vision cannot grasp Him, but His Grasp is over all vision.” (Quran 6:10
@SURESH
If u say that u have seen god in idol, Sleep with idols, eat with idols, talk with idols.
It's like a baby girl playing with her barbie dolls.
Vedas says that na tasya prathima asthi. Means God has no image.
@True Indian, Ummar rao cannot be brahmin 100% sure. Anybody can pose as brahmin, A learned brahmin will never leave Hinduism, as he very well aware of its virtues. Only those who have done spiritually well in previous birth are promoted and gifted to be
@suresh
Just type on youtube
Muhammed-Umar-Rao - Why I Embrace-Islam
@suresh
Rig Veda 8.78.5; 10.173.4; Atharva Veda 6.88.1, 20.34.2, 19.32.9, 13.1.6-7 and Yajur Veda 1.17 Says the Earth is Fixed. The Atharva Veda 6.77.1 and 6.44.1 explicitly states that Earth is standing still (not moving), moreover Rig Veda 10
@suresh
Quran Ch 79:30 we have made the earth like an ostrich egg. Which is geosperical
Quran 71:19 And Allah has made the earth for you as a carpet(spread out).
Quran 78:6 Have We not made the earth as a wide expense,
the
@Suresh
Dont u respect ur mother.
The worship of Allah creates a sense of thankfulness, respect and honor. To realize the value of the source from where man gets the valuable divine blessings is a sign that the person was deserving o
@true indian,
cntr + c has been disabled for me. hence i cannot copy your link of youtube. How can you copy paste it?
you tell me the subject and i will google it out.
@suresh
Just watch this video. U will get all answers to the question
https://m.youtube.com/watch?v=HQZvgyyHu3Q
@TRUE INDIAN, I don't know with what context you are giving explanations. But i will ask you some questions. Pls try to understand.
1) WHY GOD WANTS HUMANS TO PRAY HIM ( he made animals, birds, & human beings) why god doesnt want prayers from animals
@Suresh
U and me the difference is letter \S\"
U say everything is God. Sun is god,moon is god,cow is god etc.
We say everything is God's."
@Suresh.
To play a Music player. God doesn't want to become a music player. Instead there is a instruction manual. Which shows how to play and stop the music.
That's why god sent holy book.
@Suresh
There is not a single mistake. To question the Quran. Because it is the word of God.
Islam is the fast growing religion in the World. Majority are from Britain, America. Just to prove islam wrong. They started understanding.
@Suresh
Please watch till the end.
https://m.youtube.com/watch?v=HQZvgyyHu3Q
@Suresh
Big joke of the Century.
U mean to say instruction book like vedas is fake.
But We believe Quran is direct word of god. Or Vedas might be the word of God for that period of time. Last and final book the holy Quran
@TRUE INDIAN, it would be god's choice, if he wishes to incarnate as lion, monkey, man or cobra.. who are we to question him. Have you ever question the words of your holy books? No, becoz you believe those are gods instructions, Same way we too believe i
@TRUE INDIAN, Joke of the day. ( god gives instruction books)
If god want, to instruct use his super power and he will guide the people. As you and I claim god is powerful, then why would god need to print books and instruct through it. Can't the al
@TRUE INDIAN, If a person does good deeds and dies then he will go upto Moon or heaven, he will stay there till his reward of good deeds are finished, then again he will be re-born on earth & vice-versa. To come out of the cycle of birth & death cycle one
@suresh.
If God wants to Take incarnation of man to understand the problem. then God has to take incarnation of horse, cow, monkey etc. to understand the problem of animals. He doesnt need to.
he gives instruction books.
@Suresh
watch this.
https://www.youtube.com/watch?v=zaK9Z1VxzLA
@suresh
Rss activist Nagaraj Rao, now known as Umar Rao converted to islam. see why?
@Suresh,
U said some poojarys don't ask for money, but they know that u will give the money. or else they won't survive without food.
Just see shankaracharya Sanjay dwivedi now known as Ahmed pandit. how he became a muslim.
@Suresh
your question why we don't remember past birth. You have answered your own question. If we happen to remember it will result to lots of disputes.
and u also said
There are rarest of rare case where people remember their
@TRUE INDIAN,
your question why we don't remember past birth. You have answered your own question. If we happen to remember it will result to lots of disputes.
REGARDING BABAS - I don't follow or worship them. Although many of my friends
@Suresh
the killers of lincoln and kennedy
John wilkes booth was born on May 10, 1838
Lee harvey oswald was Born on October 18, 1939
Lincoln born and died on 1809-1865
Kennedy born and died on 1917-1963
Lin
@Suresh
Lincon and kennedy what showed in the video is not 100% True
Lincoln born on February 12, 1809
Lincoln Died on April 15, 1865
Kennedy Born on May 29, 1917
Kennedy died on November 22, 1963.
@Suresh
Some people might simply say that, iam incarnation of so and so. They first study their history, and after that they pretend that it is he.
So that he might get new house and property.
@Suresh
i heard rebirth of sai baba that big hair fellow. he used to say he is incarnation of Shirdi sai baba.
But now he is exposed and found that he is fake and he was doing just a magic and nothing else.
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