Ullal Muslims offer fruit juice to Hindu devotees during temple festival

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.

Mangaluru, Jan 30: A day-long ‘satyagrah’ by women followed by formation of human chain marked the Martyrs’ Day, the death anniversary of Mahatma Gandhi, in Mangaluru.

The organisers were ‘We, the People of India’, whose sole intention was to safeguard constitution of India and raise voice against those to attack the constitution.

Amidst nationwide agitation by ‘We, the People of India’ against contentious CAA, NRC, the women of Manglauru have decided to hold satyagrah and form a human chain in front of the office of the Deputy Commissioner in the heart of the city on January 30.

The Satyagrah commenced at 10 a.m. At 4:30 p.m. a human chain will be formed. At 5.17p.m. when the father of the nation was gunned down 72 years ago during his evening prayer at Birla House by Godse, the demonstrators raised the slogan of unity to defeat the ideology of Godse.

Bengaluru, July 25: A 105-year-old person from Bengaluru’s Basaveshwar Nagar, who was under treatment for covid-19 at a hospital for past five days, breathed his last today. He was a former government account who retired in 1973. He was the oldest known covid-19 patient in the state so far.

Many members of the patient's family are said to be infected and are hospitalised at various facilities. The funeral will be overseen by two uninfected family members.

The patient 74411 died on Saturday morning at around 9 a.m., said Dr Prasanna, Managing Director of Pristine Hospital And Research Centre where the former was admitted.

“The patient was initially doing well when he admitted on July 20. He did not have significant lung changes when he was admitted. However, after three days, his blood pressure started to drop so he was put on oxygen in the ICU. Yesterday morning, with continued deterioration, he was placed on non-invasive ventilator support,” Dr Prasanna said.

“Finally, by last night, his oxygen saturation levels began to plummet abruptly and we had to intubate him for ventilator support. His condition continued to deteriorate, however. The cause of death was respiratory failure and the onset of sepsis,” he added.

Although earmarked for supplies of Remdesivir by the government, the hospital did not receive the drugs. An appeal to Dr K Sudhakar, Minister of Medical Education by the hospital staff resulted in an assurance that the medication would arrive. “However, in the end, we had to source the medication ourselves on Friday,” medical staff said.

Dr Thrilok Chandra, Head, Critical Care Support Unit (CCSU), which oversees the care of critical or vulnerable-aged Covid-19 patients, had said that Patient 74411 had been diagnosed early. “He was identified when the disease was still in the early stages in his body. He only had symptoms of Influenza-Like Illness (ILI), so the symptoms were not severe,” Dr Chandra had said.

“It’s very sad. We were rooting for him to pull through. He had no comorbidities at all. He had been bed-ridden from last year, but he was healthy. His only potential comorbidity was his advanced age,” Dr Prasanna said.

According to government data, 34% of Covid-19 fatalities in India are aged between 60 and 74 years of age. Fourteen per cent are aged above 74.