Anil Ambani to pay USD 100 mn in conditional order for Chinese banks: UK court
London, Feb 7: A UK court on Friday directed Reliance Group chairman Anil Ambani to pay USD 100 million towards a conditional order granted to three Chinese banks pursuing the recovery of over USD 680 million owed to them as part of a loan agreement.
In what is in effect a deposit to be paid into court pending a full trial in the case, Judge David Waksman has set a six-week timeline for such a payment to be made as he concluded that he did not accept Ambani's defence that his net worth was nearly zero or that his family would not step in to assist him when "push came to shove".
"In my overall conclusion, Mr Ambani has not satisfied me that he can't make any payment at all," Judge Waksman said as he expressed particular criticism of a "lack of candour" and "transparency" on the part of Ambani's defence in reference to his financial means.
The Reliance Group indicated that it plans to appeal against the ruling, which will involve a process of seeking permission to appeal.
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SRH beat CSK by 10 runs
Hyderabad (PTI): Nitish Kumar Reddy and Eshan Malinga shared five wickets between them as hosts Sunrisers Hyderabad defeated Chennai Super Kings by 10 runs in their IPL match here on Saturday.
Defending 195, Hyderabad restricted struggling CSK to 184 for eight. CSK have crashed to fourth defeat in six matches.
Abhishek Sharma (59) and Heinrich Klaasen (59) took CSK to 194 for nine with their splendid batting. For CSK, Jamie Overton and Anshul Kamboj picked up three wickets apiece while Mukesh Choudhary bagged two.
Brief Scores:
Sunrisers Hyderabad: 194 for 9 in 20 overs (Abhishek Sharma 59, Heinrich Klaasen 59; Jamie Overton 3/37, Anshul Kamboj 3/22).
Chennai Super Kings: 184 for 8 in 20 overs. (Ayush Mhatre 30, Matthew Short 34; E Malinga 3/29, N Reddy 2/31).
