NIA court sends 21 PFI activists to jail for holding arms training camp

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.

Vijayapura, June 18: Shoukat Ali Sumbad, a local farmer, has donated land for the construction of Chennamma memorial, modelled on the Kittur fort, at Sindagi town in Vijayapura to celebrate the town's connect with the valorous Lingayat queen who fought the British in 1824.

Basava Jaya Mrutyunjaya Swamiji of Lingayat Panchamasali Peetha Kudala Sangam said Shoukat Ali came forward to donate his land adjacent to the state highway when local authorities failed to provide land for the memorial. 

"The committee led by Basava Jaya Mrutyunjaya Swamiji sought a 15x10 plot but when I went through their plan of constructing a model of Kittur fort, I decided to donate 425 sq ft," said the 61-year-old farmer. 

"Rani Chennamma is the pride of every Indian, irrespective of caste and creed, and my contribution is nothing compared to her sacrifice for the nation," he added.

Shoukat Ali, who lives in the neighbouring town of Almel, said he is a man of modest means but proud to make the contribution. "I own nine acres of land in Almel. I have six sons and two daughters. Two of my sons run small businesses in Mumbai. Ten of us live in a small house in Almel," he said.

“I also work as a broker to sell or buy sites. I had bought 15 guntas of land in Sindagi for my children some 15 years ago. When our MLA MC Managuli and Swamiji sought land for the memorial, my entire family agreed wholeheartedly” Shoukat Ali said.

“As Chennamma’s history is linked to Sindagi, there has been a demand for a memorial here since 2008, but the town municipal council failed to provide land due to political and technical reasons,” said Swamiji. 

“There were plans to observe a Sindagi bandh in the first week of June to protest the indifference of authorities. But then Sumbad gave us his land. We have formed a committee to construct a model of Kittur fort and a bronze statue of Chennamma at a cost of Rs 28 lakh,” he added.

Bengaluru, Jun 21: As many as 453 new coronavirus cases were confirmed on Sunday including 196 in Bengaluru alone, taking the total number of infections in Karnataka to 9,150, the Health Department said.

Five more deaths took the toll due to COVID-19 in the state to 137, a bulletin issued by the department said.

An assistant sub-inspector posted in a traffic police station died due to coronavirus on Saturday night taking the number of policemen succumbing to the contagion to three, police said.

The entire police station has been sealed for sanitisation and 25 people including five primary contacts of the deceased have been quarantined at the designated hospitals.

The total number of COVID-19 cases include 5,618 discharges, 3,391 active cases, 137 deaths, four deaths due to non-COVID causes and 77 patients admitted in Intensive Care Units.

The 196 cases confirmed in Bengaluru today is the highest single-day spike ever since the outbreak of the pandemic.

With 64 deaths so far, the city's share in the total fatalities in the state due to COVID is 47 per cent.

The five deaths reported on Sunday included three in Bengaluru.

"Yes. It is a major single day spike in Bengaluru," a health department official told P T I.

Of the total cases reported in Bengaluru, 101 are Influenza-Like Illness (ILI) and 68 are those whose contact tracing is underway.

Apart from 196 in Bengaluru, 40 cases were reported in Ballari, 39 cases each in Kalaburagi and Vijayapura, 18 each in Mysuru and Gadag, 15 in Dharwad, 14 in Bagalkote, 13 in Bidar, eight each in Davangere, Uttara Kannada and Kolar.

The five deaths reported on Sunday consisted of four men and a woman.

In view of the rising cases in Bengaluru, the Chief Secretary on Saturday formed three teams.

According to an order, Principal Secretary in Cooperative department Tushar Girinath will head the team that will ensure shifting the patients from their houses or the institutional quarantine facilities to the designated hospital.

The second team headed by the Karnataka Public Service Commission secretary G Sathyavathi will monitor the containment zone and carry out extensive surveys of people with COVID-19.

The third team is headed by Karnataka State Mineral Development Corporation managing director Naveen Raj Singh and Additional Commissioner of police Hemant Nimbalkar who will ensure social distancing at public places.

These three teams will have senior bureaucrats and top police officers as members.