Yes Bank has taken over the headquarter of Anil Ambani’s group in surburban Santacruz for failure to repay dues worth Rs 2,892 crore.
The National Company Law Tribunal (NCLT) on Tuesday reserved its order on the State Bank of India plea against Anil Ambani to recover over Rs 1,200 crore under the personal guarantee clause of the bankruptcy law.
Businessman Anil Ambani on Tuesday claimed he had not given any personal guarantee for a borrowing made by Reliance Communications (RCom) from three Chinese banks against the backdrop of a UK court directing him to pay USD 717 million to the three lenders.
Reliance Group Chairman Anil Ambani appears before ED in Mumbai in connection with PMLA probe in Yes Bank case.
The Anil Ambani-controlled Reliance Capital group firm Reliance Home Finance has defaulted on loan repayment of Rs 40.08 crore in February, it said in a regulatory filing on Tuesday.
Finance Minister Nirmala Sitharaman lashed out at "government in power from 2004 to 2014" and appeared to hold it responsible for the crisis in Indian banking system. United Progressive Alliance (UPA) under former Prime Minister Manmohan Singh was in power from 2004 to 2014.
A UK court on Friday ordered Anil Ambani to deposit $ 100 million within six weeks as a deposit in a lawsuit in which three Chinese banks are seeking hundreds of millions of dollars in defaulted loans. Lawyers for Ambani said earlier that he didn’t have the funds to pay the deposit.
The Industrial and Commercial Bank of China Ltd Mumbai Branch, on behalf of itself, China Development Bank and Exim Bank of China, had sought summary judgment against Ambani over an alleged breach of a personal guarantee on a debt refinancing loan of around USD 925 million in February 2012.
Reliance Group Chairman Anil Ambani's sons have resigned from the Reliance Infrastructure board, as per a regulatory filing. Both the sons - Jai Anmol Ambani and Jai Anshul Ambai - resigned within six months of their appointment.
In a statement, the company said the audit made "no adverse findings" on the quantum and end-use of lending.
The company owes Rs 91.78 crore, includes both principal and the interest, to 19,964 retail bondholders but is unable to pay because of a restraint placed by the lenders as it is undergoing is a bank-led resolution process
UK High Court has dismissed an application filed by Industrial and Commercial Bank of China Limited for a 'summary judgement in its claims of USD 680 million against RCom Chairman Anil Ambani.
Ambani along with four directors -- Ryna Karani, Chhaya Virani, Manjari Kacker and Suresh Rangachar -- had resigned from the company earlier this month.
Anil Ambani has resigned as director of Reliance Communications, the debt-ridden company said in a filing on Saturday. According to the filing, Ambani along with Chhaya Virani, Ryna Karani, Manjari Kacker, Suresh Rangachar have resigned as directors of RCom.