Why Kalladka Bhat missing onmost wanted' list: PFI asks police

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, Apr 13: Struck by the boredom of lockdown imposed to curb the spread of coronavirus, a 17-year old was caught on Sunday trying to sneak his friend out of his apartment complex by stuffing him inside a suitcase, police said.

"A minor, aged 17-years-old, a resident of Orchid Apartment, Balmatta invited his friend, a resident of Motisham Apartment, Pandeshwar to stay with him on April 11, Saturday," said PS Harsha, the Commissioner of Police, Mangaluru.

The friend wanted to return back to his apartment in Pandeshwar the next day but due to strict security put in place, he got inside a large trolley suitcase. Security guards at the apartment, however, got suspicious when they noticed the wobbling of the suitcase that was being wheeled to the gate.

Based on the suspicions, security personnel alerted the residents of the building and opened the suitcase from which they were shocked to find the boy's friend stepping out. Police were later called in.

A case has been registered against the two minors at the East Police station, police said adding that the duo will be produced before the Juvenile Justice Board.

Bengaluru, Feb 10: After many twists and turns, veteran Congress leader Mallikarjuna Kharge is emerging as the frontrunner for the KPCC president’s post, party sources revealed.

Though the names of DK Shivakumar and MB Patil did the rounds sometime ago, the party high command could not decide on an apt candidate, and had to widen its horizon looking for a leader who can take all factions along, and they seem to have zeroed in on Kharge.

But the senior Dalit leader is also in the reckoning for the more important All-India Congress Committee president’s post after he successfully stitched up an alliance, despite all odds, between the Congress and Shiv Sena in Maharashtra. He is understandably reluctant to take up the KPCC post. “The central leadership has given him some time to consider the KPCC offer,” the sources said.

The high command would rather go with Kharge as he is politically a far bigger force than Shivakumar and M B Patil and the party central leadership wants a safe pair of hands to handle the affairs of the state, the sources said. Also, senior leaders Siddaramaiah, Shivakumar and M B Patil cannot raise a voice against Kharge if he is elected to the post, they said.

Kharge was the Pradesh Congress chief in 2008 when the BJP was in power under B S Yediyurappa. An old warhorse, Kharge is seen as an able administrator and taskmaster. He had won a record 11 elections on the trot before he was defeated in the Kalaburgi Parliamentary Constituency by his former protege Dr Umesh Jadhav in the last election.

Sources said that the high command will not consider Shivakumar for the top slot till he comes out clean in all the legal cases against him.

It is exactly two months since Dinesh Gundurao resigned as KPCC president after the party managed to win just two out of the 15 Assembly constituencies that went for by-elections. Siddarmaiah too resigned on the same day owning moral responsibility for the loss, but the party has decided to continue with him as the assembly opposition leader, while looking for a replacement for Gundurao. 

The high command sent senior central leaders  Madhusudhan Mistry and Bhakta Charan Das on December 20 to sort out the issue of KPCC president. Though they met the state leaders and held high-level meetings in Delhi, they could not decide on a candidate. Meanwhile, the central leadership has asked Gundurao to continue in the post, till a replacement is found.

‘Congress will protest against scrapping reservation’

Bengaluru: “RSS-BJP is against reservation and have been trying to scrap it for sometime now,’’ said senior Congress leader Mallikarjun Kharge on Sunday. He stated that the Congress would take up the issue for a determined agitation both inside and outside the parliament. He said they must file a petition against this. His reaction comes after the SC recently took a decision where the top court had maintained that reservation in promotions was not a fundamental right.