Newsroom, Sept 14: Sunil Chatra, one of the directors of Sri Durgamba Transit Private Limited, died in a road accident in Tamil Nadu today.
According to sources, the tragedy took place when at around 3 p.m. when he was driving his Mitsubishi Pajero in Namakkal district of Tamil Nadu.
A prominent name in transport industry, he was also the director of Raipur Bus Service Private Limited and Sri Durgamba Transway Private Limited.
Bengaluru, Mar 26: The number of COVI D-19 cases in Karnataka spiked to 55 on Thursday after four new cases were reported.
According to official sources, a 35-year-old man, who was a resident of Nanjanagud town in Mysuru taluk and worked in a pharma unit, tested positive for coronavirus.
He had been quarantined in his home and efforts are being made to track down as many as seven persons, who had primary contact with
him.
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.
Panaji, Feb 6: Goa Chief Minister Pramod Sawant on Wednesday told the Legislative Assembly that neighbouring Karnataka has diverted the Mahadayi river water, due to which its flow in the state has taken a hit.
He was speaking during a debate on the motion of thanks to Governor Satya Pal Malik for his address.
Goa and Karnataka are locked in a dispute over sharing of the Mahadayi river water. Goa is strongly opposing the Kalasa Banduri project proposed to be built by Karnataka on the river, which is aimed at providing drinking water to three north Karnataka districts by diverting the Mahadayi water into the Malaprabha river.
Speaking in the House, Sawant said that the flow of Mahadayi river has reduced due to the diversion of water by Karnataka.
"I am admitting that they (Karnataka) have diverted the water. We have brought it to the notice of the Union Ministry of Environment, Forest and Climate Change," he said.
The Goa government has explained to the Centre that the water which flows into the state is "not wasted".
"We have told them that the perennial flow of water is necessary for Goa's wildlife," he said.
Sawant said that his government was serious on the issue of Mahadayi.
"Mahadayi is more than a mother to me. We have not compromised anywhere on the issue. I have been associated with the Mahadayi agitation since 2000," the chief minister said.
He said the issue would be fought before the Supreme Court, where special leave petition has been filed by the state.
Comments
He was great human being and humble person,God give strength to his family RIP Sunil Sir.
Add new comment