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Pay $717 million to Chinese banks: UK court to Anil Ambani

Pay $717 million to Chinese banks: UK court to Anil Ambani

Anil Ambani. File photo



London: A UK court on Friday directed Reliance Group chairman Anil Ambani to pay nearly $717 million to three Chinese banks pursuing the recovery of funds owed to them as part of a loan agreement within 21 days.

At a remotely held hearing, in line with procedures in place for the Covid-19 pandemic, Justice Nigel Teare ruled that a personal guarantee disputed by Ambani was binding on him. —PTI

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