October 13, 2020 10:56 am
The trio of Chinese lenders won a ruling in a London court in May after pursuing Ambani for more than $700 million in a dispute over defaulted loans.
September 27, 2020 3:12 pm
Anil 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.
September 18, 2020 12:43 am
SBI’s case is that it had granted credit facilities to Reliance Communications (RCom) and Reliance Infratel (RTIL) in 2015 and the same were personally guaranteed by Ambani pursuant to a deed of personal guarantee of September 23, 2016, furnished by him.
August 27, 2020 4:05 pm
Earlier, the Mumbai bench of the National Company Law Tribunal (NCLT) had allowed the initiation of insolvency proceedings against Anil Ambani after two companies promoted by him - Reliance Communications Ltd (RCom) and Reliance Infratel Ltd (RITL) - failed to pay dues of Rs 1,200 crore borrowed from SBI.
August 23, 2020 10:12 am
The insolvency process will be initiated against Anil Ambani because he had given personal guarantees against loans provided to his firms. This is one of the first cases of insolvency against a major business group head.
August 20, 2020 12:45 am
The current resolution plan, approved by CoC in March, entails realisation of around Rs 23,000 crore from sale of RCom assets and clawback of money paid to some lenders.
August 03, 2020 12:38 am
As per norms, the maintenance cost is to be borne by the company undergoing the insolvency process once it is approved by the creditors of the company.
July 30, 2020 2:08 pm
The private sector lender has also taken possession of two flats in South Mumbai for the non-payment of dues by Reliance Infrastructure, according to a notice published by Yes Bank in a newspaper on Wednesday.
July 01, 2020 2:40 am
The Mumbai Bench of NCLT will now decide if an RP should be appointed to make a report on the basis of which the tribunal will take a call on admitting the petition of SBI against Ambani.
June 20, 2020 1:16 am
The Mumbai Bench of the NCLT, presided over by the judicial member Mohammed Ajmal and a technical member Ravikumar Duraisamy, posted the case for hearing on June 30.
July 04, 2015 8:00 am
Narendra Modi launches Digital India campaign; Massive Landslide In Darjeeling, 38 Feared dead; Indonesian Air Force Plane Crashes, 100 Feared dead.
October 16, 2014 12:21 pm
Deepika Padukone, Sonam Kapoor, Shah Rukh Khan and other celebs were seen casting their votes.
October 13, 2014 11:22 am
It was the traditional festival of Karva Chauth on Saturday (October 11) and just like the other Indian women, movie personalities too celebrated it with much pomp and show.
September 30, 2014 4:16 pm
Industrialist Anil Ambani and his wife Tina Ambani were seen with their son Jai Anmol Ambani at the AGM of ADAG group in Mumbai on Tuesday.
January 21, 2014 6:45 pm
June 22, 2020 6:08 pm
Congress President Rahul Gandhi is rightly being credited for the grand old party's victory in three crucial states in the Hindi heartland. But what did he do right? It was not the promise of better governance. Manoj CG explains what really worked.
January 11, 2016 5:39 am
Mumbai, Jan 11 (ANI): Reliance Defence has signed an accord with Andhra Pradesh Government to set up a naval facility along the country’s coast with an initial investment of Rs.50 billion. Reliance Defence, a unit of billionaire Anil Ambani’s Reliance Infrastructure, plans to build submarines and aircraft carriers as well as to provide services including maintenance and refitting of ships at the facility. Reliance Chairman Ambani cited estimates saying the Indian navy could spend nearly 200 billion rupees annually over the next 15 years on acquisitions and fleet modernisation of submarines and aircraft carriers.