UK Court Orders Anil Ambani To Pay USD 717 Million To Chinese Banks

Niharika Tiwari

25.05.2020

A UK court has ordered Reliance Group chairman Anil Ambani to pay $717 million (Rs 5,448 crore) to three Chinese banks within 21 days, after ruling that a personal guarantee which the Indian businessman had disputed was binding.

A UK court has ordered Reliance Group chairman Anil Ambani to pay $717 million (Rs 5,448 crore) to three Chinese banks within 21 days, after ruling that a personal guarantee which the Indian businessman had disputed was binding.

A spokesperson for Anil Ambani said he was seeking legal advice on the future course of action. "As far as the judgment of the UK court is concerned, the question of any enforcement in India does not arise in the near future," the spokesperson said in a statement.

The UK order will also not have any bearing on the operations of other Reliance Group companies - Reliance Infrastructure, Reliance Power and Reliance Capital, the statement said.

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