ANIL AMBANI EXPLANATION TO UK COURT | I AM LIVING NORMAL LIFE SAID ANIL AMBANI | 2020

 ANIL AMBANI  EXPLANATION TO UK COURT

‘I live a normal life. I only use one car. I sold my gold to pay legal fees' said Anil Ambani, a prominent businessman who is stuck in a debt trap and continues to be one of the richest men in the country. Appearing before the UK High Court via video conference from India, he spoke about his current lifestyle, assets and debts. The fact is that the Industrial and Commercial Bank of China, China Development Bank and Exim Bank of China have sued in Britain as part of efforts to recover a $ 925 million loan from Ambani's RCom. The court ordered the three banks to pay $ 717 million and other costs within 21 days on May 22 this year. Although it expired on June 12, he made no payments. The bank asked the court to order the disclosure of his assets, and orders were issued accordingly. As part of that he faced trial on Friday.

Answering questions from the lawyer, he said he owed Rs 500 crore to his mother and Rs 310 crore to his son Anmol. He also revealed that he had taken a loan of Rs 5 billion for Reliance Innoventures and that the 12 million shares in the company were now useless. He explained that he was not benefiting from any trust around the world, including the Family Trust. "You are not disclosing the evidence honestly," the bank's lawyer cross-examined. The lawyer was surprised to learn that he had only $ 111,000 worth of artwork. He also said that he did not receive any professional fees for the 2019-20 financial year and did not expect this year due to the current financial situation.

Also when asked about Anil’s own helicopter‌, car, other assets .. ‘My expenses are very low. All of them are borne by my wife and family. I have no other earnings either. I am currently using a car. I never had a Rolls Royce car. All media speculative articles. In addition I sell jewelry and pay for legal expenses. If further costs arise, I will be subject to court approval in respect of other assets. If I do not use the helicopter personally, I will not pay for it. It was not used due to lockdown. That is why I have no bills. ' He also inquired about the credit card bills he had been shopping in London, California and Beijing. He alleged that the high tariff was the reason for the Rs 60.6 lakh electrical bill that came in eight months.

Anil's spokesperson, China Banks, issued statements following the investigation. The spokesperson said, "Anil is a man of ordinary life and has very common interests. We will use the information obtained from this cross-examination to protect our rights and obtain loans."