Cow terrorism: Another Muslim man beaten to death over beef suspicion

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.

Bengalur, May 15: Karnataka Deputy Chief Minister Dr CN Ashwath Narayan on Friday said that stern action will be taken against the persons responsible for organising the village temple fair in Ramanagara district.

"Stern action will be taken against the person responsible for organising the festival. This should not have happened," the Deputy CM said.

Flouting all social distancing norms, people had gathered in large numbers for a temple fair in Kolagondanahalli village of Ramanagara. People were even not wearing masks.

They had taken permission for gathering from Panchayat Development Officer NC Kalmatt.

Kalmatt has been suspended by Ramanagara Deputy Commissioner following a report by the Tehsildar.

Meanwhile, 45 more COVID-19 cases have been reported from Karnataka, taking the total number of coronavirus cases in the state to 1,032 on Friday, according to the state Health Department.

Apr 9: A panel of experts in the Karnataka state has suggested that the ongoing lockdown should be continued in districts identified as Covid-19 hotspots, including Bengaluru, to limit the spread of the pandemic.

IT companies and government offices providing essential services should be allowed to function with 50% staff, according to the committee headed by Narayana Health chairman Dr Devi Shetty, which submitted its report to chief minister BS Yediyurappa on Wednesday.

It has also asked the government to ease restrictions gradually and take adequate care over the next six months to contain the outbreak. The committee urged the government not to permit AC buses and metro services till April 30 and allow private vehicles only on alternate days (even-odd number-wise) for two weeks after April 15.

The government must close schools and colleges till May 31 and allow only inter-state movement of goods transport. The government could allow non-AC shops to open. It has suggested that the ban on inter-state train and flight services should continue.

Education minister S Suresh Kumar, who is the state Covid-19 spokesperson, said the Cabinet, which is meeting on Thursday, may discuss the recommendations and take a view on de-escalation of the lockdown.

Prime Minister Narendra Modi will interact with chief ministers through videoconference on April 11, after which the government will get an idea about the Centre’s thinking, he said.

While some states including Kerala, Maharashtra and Telangana have favoured continuation of the lockdown, Yediyurappa has not taken any stand publicly and has instead been implementing the Centre’s decision.

Six new cases

Karnataka on Wednesday reported six new Covid-19 positive cases, including that of a 65-year-old person in Kalaburagi, who died due to severe acute respiratory infection.

The health authorities have issued a notice to the private hospital -- where the deceased was initially admitted before being taken to a government hospital -- for not reporting the case to the government. The government has locked down the hospital, kept its entire medical team under quarantine, and police have registered a case of criminal negligence against the hospital authorities.

Of the other five positive cases, two had a travel history to Delhi, one had contact with a Dubai returnee and two others had close contacts with infected people.

This takes the total number of positive cases in the state to 181. Five people have died, while 28 have been discharged so far.