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.
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Inna lillaahi wa inna ilaihi Rajioon.Visited him on Eid day,was very cheerful.
He was a great visionary known for his clean image, integrity and his concern for the society and the Community.
May Allah grant strength to his family and friends to over come this moment of grief
May Allah Grant him Jannat
Aameen........
Real Wonderful Man he was. RIP
As a politician he had sacrificed his life for the people and party. But his party leaders sacrificed him for their selfish gains.
ಲೋಕಾರ್ಪಣೆಗೊಳ್ಳುವ ಮುನ್ನವೇ ಅಲ್ಲಾಹನ ಕರೆಗೆ ಓಗೊಟ್ಟು ಇಂದು ನಮ್ಮನ್ನಗಲಿದ ಕರ್ನಾಟಕ ರಾಜ್ಯ ಕಂಡ ಸರಳ, ಸಜ್ಜನ ಮತ್ತು ನೇರ ನಡೆ ನುಡಿಯ ಪ್ರಾಮಾಣಿಕ ಮುಸ್ಲಿಮ್ ಸಮುದಾಯದ ಹೆಮ್ಮೆಯ ರಾಜಕಾರಣಿ......
ಇವರ ಮರಣವು ಸಮಾಜಕ್ಕೆ ತುಂಬಲಾರದ ನಷ್ಟ ಇವರು ಶಿಕ್ಷಣದಲ್ಲಿ ಯಾವ ರೀತಿ ಕ್ರಾಂತಿಯ ಅಲೆ ಎಬ್ಬಿಸಿದ್ದರೆಂದರೆ ದಕ್ಷಿಣ ಕನ್ನಡ ಜಿಲ್ಲೆಯಲ್ಲಿ ಮಾತ್ರವಲ್ಲ ಕರ್ನಾಟಕ ರಾಜ್ಯದಲ್ಲಿ ಶಿಕ್ಷಣದ ಅಲೆಯನ್ನೇ ಎಬ್ಬಿಸಿ , ಹಗಲಲ್ಲಿ ಖಾಲಿಯಾಗಿರುವ ಮದರಸಾಗಳಲ್ಲಿ ಆಂಗ್ಲ ಮಾಧ್ಯಮ ತರಗತಿಯನ್ನು ಪ್ರಾರಂಭಿಸಲು ಹೆಚ್ಚು ಒತ್ತು ನೀಡಿ , ಅಲ್ಪಸಂಖ್ಯಾತ ಸಮುದಾಯದಲ್ಲಿ ಶಿಕ್ಷಣದ ಕ್ರಾಂತಿ ಮೂಡಿಸಿದವರು. ಶಿಕ್ಷಣ ಸಚಿವರು ಆಗುವ ಮೊದಲು ಮತ್ತು ನಂತರವೂ ತನ್ನ ಜೀವನವನ್ನೇ ಈ ಸಮಾಜದ ಶಿಕ್ಷಣದ ಸಬಲೀಕರಣಕ್ಕಾಗಿ ಒತ್ತೆ ಇಟ್ಟ ಸರಳ , ಸಜ್ಜನ, ಪ್ರಾಮಾಣಿಕ ನಾಯಕ ..ಇವರ ಅಗಲುವಿಕೆಗೆ ಇಂದು ಬೆಳಗ್ಗೆ ಎಸ್.ಡಿ.ಪಿ.ಐ. ಜಿಲ್ಲಾ ಕಛೇರಿಯಲ್ಲಿ ಜಿಲ್ಲಾ ಸಮಿತಿ ಸಭೆ ಕರೆದು ಸಭೆಯಲ್ಲಿ ತೀವ್ರ ಸಂತಾಪ ಸೂಚಿಸುತ್ತಾ , ಸರ್ವಶಕ್ತನು ಅವರ ಸೇವೆಯನ್ನು ಸ್ವೀಕರಿಸಲಿ ಮತ್ತು ಇವರ ರಾಜಕೀಯ ಮತ್ತು ಸಾಮಾಜಿಕ ಜೀವನವು ಜನಪ್ರತಿನಿಧಿಗಳಿಗೆ ಮಾದರಿಯಾಗಲಿ .
تَمَزُّق
Allah yarhemuhu
RIP. He was anyway inactive in politics for a long time. But his departure from the active politics was a tragedy. We should not forgive Poojary, Moily, Oscar for cheating this rare politician.
ಮುತ್ಸದ್ದಿ, ಹಿರಿಯ ರಾಜಕಾರಣಿ, ಜಾತ್ಯಾತೀತ ಸಿದ್ದಾಂತದ ಪ್ರಬಲ ಪ್ರತಿಪಾದಕ ಬಿ ಎ ಮೊಯಿದ್ದೀನ್ ರವರ ನಿಧನ ದುಃಖಕರ. ಜಾತ್ಯಾತೀತತೆ, ಪ್ರಾಮಾಣಿಕತೆ, ಸರಳತೆಗಳು ರಾಜಕಾರಣದಲ್ಲಿ, ಸಮಾಜದಲ್ಲಿ ನಿಧಾನಕ್ಕೆ ಮರೆಯಾಗುತ್ತಿರುವ ಕಾಲಘಟ್ಟದಲ್ಲಿ ಒಂದು ಸಂಕೇತದಂತೆ ನಮ್ಮ ನಡುವೆ ಬದುಕಿದ್ದ ಶ್ರೀಯುತರ ನಿಧನ ನಿಜಕ್ಕೂ ಸಮಾಜಕ್ಕಾದ ಬಹುದೊಡ್ಡ ನಷ್ಟ.
ಓರ್ವ ಉದಾರವಾದಿ ಮುಸಲ್ಮಾನರಾಗಿದ್ದ ಮೊಯಿದ್ದೀನ್ ರವರು ಇತ್ತೀಚೆಗೆ ಯುವಜನರು ಹೆಚ್ಚು ಹೆಚ್ಚು ಮತೀಯವಾದದತ್ತ ಆಕರ್ಷಿತರಾಗುತ್ತಿರುವುದರ ಕುರಿತು ಆತಂಕಿತರಾಗಿದ್ದರು. ಶಿಕ್ಷಣಕ್ಕೆ ಅಪಾರ ಮಹತ್ವ ನೀಡುತ್ತಿದ್ದ ಅವರು ಶೈಕ್ಷಣಿಕವಾಗಿ ಹಿಂದುಳಿದಿದ್ದ ಬ್ಯಾರಿ ಸಮುದಾಯ ಶಿಕ್ಷಣದಲ್ಲಿ ಮುಂದಕ್ಕೆ ಬರಬೇಕು ಎಂಬ ತುಡಿತ ಹೊಂದಿದ್ದರು. ಆ ಕುರಿತು ಪ್ರಾಮಾಣಿಕವಾಗಿ ತನ್ನ ಕೊಡುಗೆ ನೀಡಿದ್ದರು.
dyfi ಸಂಘಟನೆಯ ಹಿತೈಷಿಯಾಗಿ ಯುವಜನ ಚಳುವಳಿಯನ್ನು ಪ್ರೋತ್ಸಾಹಿಸುತ್ತಿದ್ದ ಬಿ ಎ ಮೊಯಿದ್ದೀನ್ ಅವರ ಅಗಲಿಕಗೆ ಡಿವೈಎಫ್ಐ ಕರ್ನಾಟಕ ರಾಜ್ಯ ಸಮಿತಿ ಭಾವಪೂರ್ಣ ಸಂತಾಪ ಸಲ್ಲಿಸುತ್ತದೆ .
Rest in peace. He passed away today peacefully. But the release of his autobiography will kill three more giants from coastal Karnataka
A rare statesman indeed. Probably, he was the only non-corrupt politician from coastal Karnataka. Rest in peace
Shocking news. May allah grant him jannah
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