Anil Ambani tells UK court he leads disciplined, not lavish lifestyle
London: Reliance Group chairman Anil Ambani has told a UK court that suggestions of his lavish tastes are speculative because his lifestyle is "very disciplined" as he gave evidence in a dispute involving a loan agreement with three Chinese banks.
The 61-year-old former billionaire appeared via videolink from Mumbai before the High Court on Friday for compulsory cross-examination in aid of an asset disclosure order obtained by the Industrial and Commercial Bank of China Ltd Mumbai Branch, China Development Bank and Exim Bank of China.
The order required Ambani to give full disclosure of all of his assets worldwide exceeding USD 100,000.
"My needs are not vast and my lifestyle is very disciplined," Ambani told the London court.
Asked about his fleet of luxury cars and other references to his lavish lifestyle as the counsel for the banks cross-examined him, the Reliance Communications chief dismissed them as "speculative" media stories.
"Mr Anil Ambani has always been a simple man of simple tastes, contrary to exaggerated perceptions of his flamboyance and lavish lifestyle," said a spokesperson for Anil Ambani.
"He is devoted to his family and company, an avid marathon runner, and deeply spiritual. He is also a lifelong vegetarian, teetotaller and non-smoker who would much rather watch a movie at home with his kids than go out on the town. Reports that suggest otherwise are completely misleading," the spokesperson said.
The dispute revolves around an alleged breach of a personal guarantee on a company debt refinancing loan of around USD 925 million dating back to February 2012. Ambani denies providing authority for any such guarantee, resulting in the High Court action in the UK the jurisdiction agreed upon as part of the terms of the loan agreement.
In May, the Commercial Division of the High Court of England and Wales in London had ruled that the personal guarantee was binding on Ambani and directed him to pay early USD 717 million to the three Chinese banks.
"The banks will use the information from the cross-examination to pursue all available legal avenues to protect their rights and recover the outstanding loans owed to them, the banks said in a statement this week.
At a hearing in the case earlier in the year, a UK judge had ruled 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".
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Karnataka Cabinet to meet again to discuss SC internal reservation during recruitment
Bengaluru (PTI): The Karnataka Cabinet has decided to meet again to discuss the issue of providing internal reservation among Scheduled Castes for direct recruitment in the government sector, as deliberations on the matter remained incomplete.
While no specific date for the next meeting has been announced, Law and Parliamentary Affairs Minister H K Patil told reporters it would be held "at the earliest" and reiterated the government's commitment to the issue.
The issue came up for discussion at the Cabinet meeting on Thursday, amid reports of rifts between SC(Right) and SC (Left) factions within the ruling Congress over providing internal reservation in the recruitment to 56,432 vacant posts.
"The government is committed to providing internal reservation. We will meet again for further discussion. The chief minister will decide when to meet at the earliest. It will be a Cabinet meeting and will be held as early as possible," Patil said.
He said, "We had a detailed discussion on this matter for some time, but it was incomplete because many ministers are yet to speak on this. The order already issued (for filling up vacancies) will not be disturbed, and about other things, we will discuss in the next meeting."
The state government decided to conduct recruitment for 56,432 vacant jobs based on the reservation order in force before December 28, 2022, (15 per cent for SCs and 3 per cent for STs), due to the stay on the enhanced quota and internal reservation, while continuing to pursue its case in court.
The previous BJP government had increased the reservation quota for SCs from 15 per cent to 17 per cent and for Scheduled Tribes from 3 per cent to 7 per cent, raising the state's total reservation to 56 per cent, exceeding the Supreme Court-mandated 50 per cent ceiling.
While this matter is still in court, the Congress government decided to provide internal reservation by slicing up the 17 per cent reservation matrix given to 101 scheduled castes, under three groups, with a formula of six, six, and five per cent respectively.
According to sources, the SC(Left)/Madiga community, which has fought for internal reservation for decades, opposes recruitment for 56,432 jobs without providing internal reservation.
The SC (Right)/Holeya community, however, favoured recruitment without providing internal reservation.
At the meeting, the Cabinet gave administrative approval for Karnataka State Road Transport Corporation to purchase 144 'BS-VI' urban transport diesel buses at an estimated cost of Rs 62 crores.
It also granted administrative approval for the purchase of hardware and software for implementing ICJS (Inter-operable Criminal Justice System) and IT services in the state under the Police Modernisation Project at an estimated cost of Rs 227.58 crores.
The Cabinet also asked the health minister to speak with officers, doctors and other staffers appointed on a permanent, contract, temporary, or outsourced basis in the health department, who have threatened to go on strike over their various demands.
Approval was also given for amendments to certain sections of the Karnataka Municipalities Act, 1964, and the Karnataka Municipal Corporations Act, 1976, regarding advertisement charges under local bodies.
