Ali Hasan
The Ambani surname doesn’t guarantee that a person carrying it will remain happy or rich. 2020 has been a bad year for millions of people and Anil Ambani is one of the millions where 2020 made him even more miserable.
Anil Ambani, who is the younger brother of Mukesh Ambani, was once the 6th richest person on this planet in 2008 where he had a staggering net worth of $42 billion. But just a decade later, things have gone south for him and now he is literally broke.
Not only that, he has many loans on him which he has to return as he gave his personal guarantee. But the problem is that he has already claimed that his net worth is virtually zero during a hearing in a UK court.
He said, “The value of my investments has collapsed, my net worth is zero after taking into account my liabilities. In summary, I do not hold any meaningful assets which can be liquidated for the purposes of these proceedings.”
He was legally fighting a case in court whether to return the money or not and just when he thought nothing can worse than this, things got worse than before.
Looks like his nightmare actually became a haunting as now he is accused of a scam worth ₹86,188 crores. This amount is 10 times more than the debt garnered by former billionaire fugitives Vijay Mallya or Nirav Modi.
3 of Anil Ambani’s companies have been charged with fraud by 3 banks.
The 3 companies are as follows:-
- Reliance Communications,
- Reliance Infratel &
- Reliance Telecom.
The 3 banks are as follows:-
- State Bank of India,
- Union Bank of India &
- Indian Overseas Bank.
The 3 banks want a deeper probe into the transactions from the account of 3 Anil Ambani-led Reliance Group entities. However, the Delhi High Court has directed Union Bank of India and Indian Overseas Bank to maintain the status quo in a matter pertaining to the classification of accounts as fraudulent until the next hearing on January 13.
“It is being falsely and mischievously stated in a section of social media that RCOM Group of companies owes ₹86,188 crore to Indian banks and financial institutions.” Reliance Communications told IANS two days later on December 30.
According to the company’s official website, it owes ₹49,193 crores in dues. In addition to that, Reliance Telecom owes ₹24,306.27 crores and Reliance Infratel owes ₹12,687.65 crores. Cumulatively, this adds up to ₹86,188 crores — while still excluding the ₹28,837 crores that’s owed in spectrum dues.
This is 10 times more than what another fallen billionaire, Vijay Mallya owed Indian banks, with debt amounting to ₹9,000 crores. If compared to Nirav Modi, who owes at ₹7,409.07 crores, Reliance Communication’s debt is even more than a 10 fold hike.
Let’s hope for the best and for more information, we all would have to wait for the next hearing which will take place on January 13, 2021.
