Fadnavis made CM to facilitate transfer of Rs 40k-cr to Modi govt: Anant Kumar Hegde

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.

Thiruvananthapuram, Mar 28: A man from Kerala was among the terrorists affiliated to Islamic State (IS) who allegedly attacked a Gurdwara in Kabul earlier this week in which 27 people were killed.

The IS has claimed that one of the suicide bombers was Abu Khalid al-Hindi.

According to sources, investigation agencies on Friday have identified him as 29-year-old Mohammed Sajid Kuthirummal of Padne in Kasargod. He was among the 14 persons, who left from Kerala to join IS in Nangarhar province of Afghanistan.

"IS had released the name Abu Khalid al-Hindi through its media agency soon after the attack. The photograph of him holding a rifle was also published by IS in their propaganda magazine Al Naba. From that, we have identified the person as Mohammed Sajid Kuthirummal. We are investigating the matter and in touch with the investigating agencies in Afghanistan for tracking his trail," sources told ANI.

The National Investigation Agency (NIA) probe had earlier revealed that Mohammed Sajid was recruited by Abdul Rashid Abdulla of Chandera, who was killed in Afghanistan last year.

Sajid worked as a shop keeper in a gulf country and returned to Kerala. Based on a complaint by Sajid's father Mahamood, the FIR was registered at Chendara Police Station, Kasaragod in 2016 regarding Sajid joining IS and leaving for Afghanistan.

He was among the 14 member team that left from Kerala to join IS in Khorasan Province' in Nangarhar.

ANI had earlier reported that two of these members Ayesha alias Sonia Sebastian and Fathima alias Nimisha who were in IS had expressed their interest in returning to Kerala. Out of 14, seven including Sajid is dead.

Bengaluru, Mar 28: Karnataka Director General of Police Praveen Sood on Saturday asked philanthropists who want to support the poor during the lockdown to leave food at the nearby police station, who will ensure that it reaches the needy.

The DGP has asked the Bengaluru City police Commissioner to take steps in this regard and ensure fair distribution.

"All philanthropists, in case you want to support poor. Leave cooked, packed, simple food at the police station and it will reach poor. @CPBlr pl announce a nodal officer for deciding the police station for fair distribution," Sood wrote on his official twitter handle.

Responding to the DGP's tweet, city police Commissioner Bhaskar Rao appointed Joint Commissioner (Crime) as a nodal officer.

"Sandeep Patil, IPS, Joint Commissioner, CRIME at 9480801011 is the officer nominated from Bangalore City Police to receive and acknowledge donation of food and consumables for distribution to police and those in need," Rao tweeted.

Meanwhile, the city police has also initiated measures to take those in critical medical emergency to the nearest medical facility.

"We @BlrCityPolice are at your service 24/7 to take you to nearest medical facility in critical medical emergency, dialysis, chemo, emergent heart issues etc PLEASE CALL 100 Misuse may affect someones life! Be responsible #CoronaLockdown is National Duty #Covid19India," Additional Commissioner of Police (Administration), Bengaluru, Hemant Nimbalkar tweeted.

Bengaluru police's initiative of distributing food, snacks, water and certain essential requirements to those in need has received wide appreciation.

While some police stations are already providing food to poor and those in need by collecting it from sponsors, couple of them have even hired a cook for the needy.

The lockdown has affected the poor who depend on their daily wages for livelihood.