Categories
Business

UK court orders bankrupt Anil Ambani to pay $717 million back to Chinese banks

A UK court on Friday directed Reliance Group chairman Anil Ambani to pay nearly $717 million (around Rs 5,446 crore) within 21 days to three Chinese banks pursuing the recovery of funds owed to them as part of a loan agreement. In February 2012, Reliance Com took a loan of over $700 million from three […]

Categories
Business

UK Court directs Anil Ambani to pay $100 million to Chinese Banks

A UK court on Friday directed Reliance Group chairman Anil Ambani to pay $100 million within six weeks towards a conditional order granted to three Chinese banks pursuing the recovery of over $680 million owed to them as part of a loan agreement. In what is in effect a deposit to be paid into court […]

Categories
Business

Anil Ambani in talks to sell broadcasting business for Rs. 1200 crore

Anil Ambani is in talks to sell his FM radio broadcasting business to a media conglomerate for INR₹ 1,200 crore. Reliance Broadcast Network Ltd. plans to first sell a 24% stake to a unit of Jagran Prakashan Ltd. before a complete disposal in staggered transactions. The sale needs to be done in stages as per […]

Categories
Business World

France reports huge tax waived off for Anil Ambani’s French businesses after Rafale deal was inked

A French newspaper reported on Saturday that France waived taxes worth 143.7 million euros to a French-registered telecom subsidiary of Anil Ambani’s Reliance Communications in 2015, months after India’s announcement of buying 36 Rafale jets. The bankrupt telecom giant Reliance Communications rejected any wrongdoing and said the tax dispute was settled under a legal framework […]

Categories
Uncategorized

Supreme Court Warns Anil Ambani To Pay Dues Or Face Jail

Industrialist Anil Ambani was held guilty by the Supreme Court of India for contempt. In a strict warning, the court asked Mr. Ambani to pay INR₹ 453 crore to Ericsson India within four weeks, if not face jail for 3 months. The court ordered INR₹ 180 crore be handed over to Erricson that was deposited […]

Categories
Business

Anil Ambani’s RCom Bankrupt Seeks Insolvency

Reliance Communication (RCom) has filed for insolvency and has pitched for a fast track resolution through National Company Law Tribunal, this court deals with bankruptcy cases. The company owned by Anil Ambani owes banks ₹46,000 crore. The company has been struggling under heavy debt, and a trail of losses after the entry of his big brother […]

Categories
Business

Ericsson goes to SC wants Anil Ambani “detained”

Ericsson India Pvt Ltd moved the Supreme Court of India seeking contempt proceedings against Chairman of Reliance Communication Ltd (RCom) Anil Dhirubhai Ambani for not complying with its order to clear dues of ₹550 crore. This is the second time that Ericsson India approached the Supreme Court. Apart from contempt proceeding Ericsson also wants Ambani to […]