All debt had to pay as the Chinese bank will recover all the money from Anil Ambani by every means. Yeah, the younger brother of the Mukesh Ambani is in the headlines nowadays. He owes a lot of debt to the Chinese bank. Yes, the brother of the Mukesh Ambani is not paying his debt.
Anil Ambani said to the UK court on Friday that he owns nothing valuable, which they can sell now to pay the debt. He is basically denying owning anything valuable to pay the loans of crores.
Everything To Know About The Debt Of Anil Ambani And Chinese Banks
The Chairman of the ADAG group owes a sum of $717 million, which means 5,306 crores to three Chinese banks. On May 12, 2020, the UK court had ordered Anil Ambani to pay the money of the debt and the fine of 7,50,000 to the Chinese banks in one month. But as he failed to pay the debt till June 12, the Chinese banks led by the industrial and commercial bank demanded the Anil Ambani assets to fulfill the debt owed to them.
So, on June 29, the UK court had ordered him to make the affidavit of all his assets. The worldwide possession exceeding $100,000.
Recent Development In The Case
On Friday in the UK Court, Anil Ambani had said that he doesn’t have anything of that value to pay the debt. Everything is meaningless does not hold that kind of value. But after his statement, the three Chinese banks said they will pursue all the legal routes to protect their right and recover the about of the debt.
The banks said they will use the information from the cross-examination to pursue all available legal avenues to protect their rights and recover all the loan owed to them.
Anil Ambani And His Debt
He is the younger brother of the Mukesh Ambani. He is the chairman of the ADAG group. But he is in recent headlines due to his large debt to the Chinese banks. He is not able to pay the loan as according to him he is a man of a simple taste and has nothing meaningful. He said he already sold his jewelry and paid the 9.9 crores. Now, he has nothing valuable to pay this loan of the Chinese banks. However, what will happen regarding this still mystery. So keep reading to get every update about this case of the businessman and a bank.