Owaisi to campaign for JD(S), BSP candidates in Karnataka

Bengaluru, Apr 19: As many as 25 new cases of coronavirus have been reported in the State till now, said Karnataka's Health Department.

"25 new COVID-19 cases reported in the State from 5 pm Friday to 5 pm on Saturday. The total number of positive cases in the State is 384 including 14 deaths and 104 discharges," added the Health Department.

The Health Department has appealed to the doctors, who are willing to volunteer in the fight against coronavirus, to reach out to the government.

A total of 14,378 COVID-19 cases have been confirmed in the country so far, with 480 deaths being reported due to the virus.

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.

Hubli, Feb 25: A Hubli court in Karnataka has sent to police custody till February 28 three students from Jammu and Kashmir, who were booked under sedition charges for raising pro-Pakistan slogan in a video shared on social media.

A second Joint Magistrate First Class (JMFC) court on Monday sent the three students, identified as Basit Ashik Sophi (19), Talib Majid (19) and Amir Mohiuddin (23), to police custody till February 28 for questioning in the matter.

The court directed the police to make the accused undergo a medical evaluation before the interrogation and produce the medical certificates in the court before the next hearing.

The three students were last week transferred to Belgaum Hindalga jail from Hubli sub-jail and the case, registered in Gokul Road police station, was also transferred to the rural police station because the video was recorded in the college hostel room which is in the latter's jurisdiction.

The Kashmiri students were under judicial custody since February 17 following their arrest for raising pro-Pakistan slogans and posting a video of the same on social media on the night of February 16.