(Image source from: Businesstoday.in)

Chinese Banks Case: Anil Ambani Disclose his Assets to UK Court:- Anil Ambani has been left in a deep financial crisis while his brother Mukesh Ambani has been racing to the top. Anil Ambani told a UK court yesterday that he leads a simple life and he owns just a single car. He said that he sold all the jewelry for the legal fees. Anil Ambani also said that he received Rs 9.9 crores for jewellery during the first half of this year and he owns nothing. When asked about the luxury cars, Anil Ambani said that they are just media speculations and he never owned a Rolls Royce. The UK High Court ordered Anil Ambani to pay the debt of Rs 5281 crores (716,917,681 USD). He also was asked to pay Rs 7 crores as the legal costs for the Chinese banks before June 12th 2020.

Anil Ambani failed to make the payment after which the Chinese banks led by Industrial and Commercial Bank of China wanted to a disclosure order of his assets. Master Davison ordered Anil Ambani to serve an affidavit about his assets worldwide. Anil Ambani appeared through a video conferencing on Friday for the cross-examination. The court heard about his outstanding Rs 500 crore loans to his mother and Rs 310 crores to his son Anmol. Anil Ambani said that he owned 12 million equity shares in Reliance Innoventures and loaned Rs 5 billion to Reliance Innoventures. He called the equity shares worthless.

"My expenses are now minimal and they are borne by my wife and family. I have no other income" said Anil Ambani. He was grilled about a personal chopper, a yacht and about the shopping expenses in London, California and Beijing.