Anil Ambani Says He Owns 'Nothing Meaningful', Had Sold All Jewellery to Pay Legal Fees
Reliance Power Chairman Anil Ambani has told a UK court that he lives a simple life and owns "nothing meaningful".
New Delhi, September 26: Reliance Power Chairman Anil Ambani has told a UK court that he lives a simple life and owns "nothing meaningful". Anil Ambani dismissed media reports that he has a fleet of luxury cars, saying he drives just one car. He went on to add that he had sold all his jewellery between January and June 2020 to pay legal fees. He said he had received Rs 9.9 crore for all his jewellery. Delhi High Court Stays Insolvency Resolution Proceedings Against Reliance Communications Chairman Anil Ambani.
In May, Anil Ambani was asked by the UK court to pay a debt of $716,917,681 (Rs 5,281 crore) and £750,000 (Rs 7 crore) in legal costs to three Chinese banks by June 12, 2020. He failed to pay the amount. Subsequently, the Chinese banks sought a disclosure order on his assets. On June 29, the UK court ordered Anil to serve an affidavit setting out all of his assets worldwide exceeding $100,000 (about Rs 74 lakh). Yes Bank Takes Possession of Anil Ambani's Group HQ in Mumbai for Failure to Repay Dues Worth Rs 2,892 Crore.
The court asked Anil to disclose all properties solely or jointly owned by him. On Friday, he appeared before the court via video-conferencing. "My expenses are minimal and being borne by wife and family. I don’t have a lavish lifestyle and no other income. I met legal expense by sale of jewellery and, if I have to meet further expenses, (it) will be subject to approval by the court to dispose of other assets," he was quoted by TOI as saying before the court.
When asked about his private helicopter, Anil Ambani said: "I don’t pay for it unless I use it for personal use." When asked about a fleet of luxury cars he had access to, he said: "These are speculative media stories. I have never owned a Rolls-Royce. At present, I use one car." The court was also informed that he had outstanding loans of Rs 500 crore to his mother and Rs 310 crore to his son, Anmol.
Following the hearing, Anil Ambani's spokesperson issued a statement saying he has always been a simple man of simple tastes. The three Chinese banks (Industrial and Commercial Bank of China, Export-Import Bank of China, and China Development Bank) also issued a statement, vowing to use all legal remedies available against him.
(The above story first appeared on LatestLY on Sep 26, 2020 08:55 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).