Anil Ambani Tells UK Court Sold Jewellery To Pay Legal Fees And Took A Loan  

Anil Ambani Tells UK Court Sold Jewellery To Pay Legal Fees And Took A Loan - Telugu Anil Ambani, Anil Ambani Sold Wife Jewellery To Pay Legal Fees, Corporate Industry, Court, Mukesh Ambani, Reliance Industries, Uk Court

Former billionaire Anil Ambani rejected a judge’s comment that he lived a “lavish lifestyle” as he faced questions about his assets from lawyers acting for a trio of Chinese banks.

TeluguStop.com - Anil Ambani Tells Uk Court Sold Jewellery To Pay Legal Fees And Took A Loan

Ambani was giving evidence via videolink for the first time from Mumbai, in an English lawsuit over a dispute stemming from a defaulted loan.

The tycoon, who has previously said his net worth is “zero,” was questioned about his spending and his finances, including more than $100 million in family loans.

Three state-controlled Chinese banks have pursued Ambani for more than $700 million in a London court, arguing that they provided funding to his Reliance Communications Ltd.in 2012 with the condition that he personally guarantee the debt.

After winning a ruling requiring Ambani to make the payments, the banks have yet to receive any funds.

“He’s fighting tooth and nail to prevent having to pay us a penny,” the banks’ attorney, Bankim Thanki, said of Ambani.

Ambani, the younger brother of Asia’s wealthiest man, said that a judge was wrong to say he’d lived a lavish lifestyle, insisting that he was a marathon runner who didn’t drink, smoke, or gamble.

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