• Latest
  • Trending
Former billionaire Anil Ambani claims his lifestyle is disciplined, not ‘lavish’

Former billionaire Anil Ambani claims his lifestyle is disciplined, not ‘lavish’

October 6, 2020
China snub Germany leaving UN Security Council says ‘Good riddance’

China snub Germany leaving UN Security Council says ‘Good riddance’

December 28, 2020
Iran Executes Dissident Accused of Stoking Protests

Iran Executes Dissident Accused of Stoking Protests

December 27, 2020
Biden: Leftist Environmentalists tapped for climate coordinator

Biden: Leftist Environmentalists tapped for climate coordinator

December 16, 2020
Cricket, coronavirus and Dalgona coffee in India’s 2020 searches

Cricket, coronavirus and Dalgona coffee in India’s 2020 searches

December 16, 2020
Zac Efron splits from Vanessa Valladares

Zac Efron splits from Vanessa Valladares

November 26, 2020
Joe Biden appoints Indian-American Mala Adiga as policy director of incoming First Lady

Joe Biden appoints Indian-American Mala Adiga as policy director of incoming First Lady

November 22, 2020
Government teacher suspended for violating model code in J-K’s Doda district

Government teacher suspended for violating model code in J-K’s Doda district

November 22, 2020
3 Maoists killed in encounter in Bihar’s Gaya

3 Maoists killed in encounter in Bihar’s Gaya

November 22, 2020
G20 Summit: PM Modi suggests new global index for post Covid-19 world

G20 Summit: PM Modi suggests new global index for post Covid-19 world

November 22, 2020
Hubble telescope gives closer look at rare asteroid worth $10,000,000,000,000,000,000

Hubble telescope gives closer look at rare asteroid worth $10,000,000,000,000,000,000

November 22, 2020
Best Accounting Software and Invoice Generators of 2020

Best Accounting Software and Invoice Generators of 2020

October 29, 2020
Small Business Software for Small businesses

Small Business Software for Small businesses

October 24, 2020
Sunday, January 24, 2021
Voice of India
No Result
View All Result
  • India News
    • Congress
    • Kashmir
    • Politics
  • Asia
    • China
    • Hong Kong
    • Japan
    • North Korea
    • Oceania
    • Pakistan
    • South Korea
    • Southeast Asia
  • World
    • Africa
    • Canada
    • Europe
    • Latin America
    • Middle East
      • Iraq
      • Israel
      • Jordan
      • Syria
    • Russia
    • United Kingdom
    • United States
  • National Security
    • Cyber Security
    • Military
    • Terrorism
      • ISIS
  • Economy
    • Business
    • Stock Market
    • Science
    • Technology
  • Culture
    • Art
    • Bollywood
    • Books & Literature
    • Food & Drink
    • Health
    • History
    • Lifestyle
    • Movies & TV
    • Music
    • Privacy
    • Religion
    • Travel
    • Women & Children
  • Environment
    • Climate Change
    • Disaster
    • Wildlife / Endangered Species
  • Sports
    • Cricket
    • Auto Racing
    • Cycling
    • Football
    • Golf
    • Olympics
    • Tennis
    • Water Sports
  • India News
    • Congress
    • Kashmir
    • Politics
  • Asia
    • China
    • Hong Kong
    • Japan
    • North Korea
    • Oceania
    • Pakistan
    • South Korea
    • Southeast Asia
  • World
    • Africa
    • Canada
    • Europe
    • Latin America
    • Middle East
      • Iraq
      • Israel
      • Jordan
      • Syria
    • Russia
    • United Kingdom
    • United States
  • National Security
    • Cyber Security
    • Military
    • Terrorism
      • ISIS
  • Economy
    • Business
    • Stock Market
    • Science
    • Technology
  • Culture
    • Art
    • Bollywood
    • Books & Literature
    • Food & Drink
    • Health
    • History
    • Lifestyle
    • Movies & TV
    • Music
    • Privacy
    • Religion
    • Travel
    • Women & Children
  • Environment
    • Climate Change
    • Disaster
    • Wildlife / Endangered Species
  • Sports
    • Cricket
    • Auto Racing
    • Cycling
    • Football
    • Golf
    • Olympics
    • Tennis
    • Water Sports
No Result
View All Result
Voice of India
No Result
View All Result

Former billionaire Anil Ambani claims his lifestyle is disciplined, not ‘lavish’

Three state-controlled Chinese banks have pursued Ambani for more than $700 million

October 6, 2020
in Asia, Economy, Featured, India News, News, World
0
Home Asia
Post Views: 66

 

Former billionaire Anil Ambani rejected a judge’s comment that he lived a “lavish lifestyle” as he faced questions about his assets from lawyers acting for a trio of Chinese banks. Ambani was giving evidence via videolink for the first time from Mumbai, in a English lawsuit over a dispute stemming from a defaulted loan. The tycoon, who has previously said his net worth is “zero,” was questioned about his spending and his finances, including more than $100 million in family loans.

Three state-controlled Chinese banks have pursued Ambani for more than $700 million in a London court, arguing that they provided funding to his Reliance Communications Ltd. in 2012 with the condition that he personally guarantee the debt. After winning a ruling requiring Ambani to make the payments, the banks have yet to receive any funds.

“He’s fighting tooth and nail to prevent having to pay us a penny,” the banks’ attorney, Bankim Thanki, said of Ambani. Ambani, the younger brother of Asia’s wealthiest man, said that a judge was wrong to say he’d lived a lavish lifestyle, insisting that he was a marathon runner who didn’t drink, smoke or gamble. “I think I must put it respectfully in perspective,” Ambani said. “My needs are not vast and my lifestyle is very disciplined.”

RelatedPosts

Anil Ambani tells court, my net worth is zero and family won’t help repay loans

Why India’s rich don’t give their money away

India threatens to send one of its billionaires to jail

Indian Corporates Find Savior in Bonds as Loans Dry Up

“Any suggestion of a lavish lifestyle past, present and future is completely speculative,” he said. Ambani was accused of putting his assets out of the reach of his creditors by putting the ownership in corporate entities. The family art collection was owned by his wife, he said. The luxury motor yacht, which was used family members – but not Ambani himself, who said he suffered from seasickness – was also owned by a company, he said.

Ambani had always said he never made a personal guarantee – something he’d dismissed as an “extraordinary potential personal liability.” On Friday, Ambani was examined over credit-card spending in luxury shops including Harrod’s that he said was done by his mother on his cards. He was also questioned over a $66 million loan provided by his mother, Kokilaben Ambani, and a $41 million loan from his son. He said he couldn’t recall the terms of the loans but insisted they weren’t gifts.

The former billionaire “has always been a simple man of simple tastes, contrary to exaggerated perceptions of his flamboyance and lavish lifestyle,” a spokesman for Ambani said in a statement. “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.”

Tags: Anil Ambanibillionairelavish lifestyleReliance Communications Ltd

Related Posts

China snub Germany leaving UN Security Council says ‘Good riddance’
Asia

China snub Germany leaving UN Security Council says ‘Good riddance’

December 28, 2020
Iran Executes Dissident Accused of Stoking Protests
Asia

Iran Executes Dissident Accused of Stoking Protests

December 27, 2020
Biden: Leftist Environmentalists tapped for climate coordinator
Asia

Biden: Leftist Environmentalists tapped for climate coordinator

December 16, 2020
Cricket, coronavirus and Dalgona coffee in India’s 2020 searches
Art

Cricket, coronavirus and Dalgona coffee in India’s 2020 searches

December 16, 2020
Zac Efron splits from Vanessa Valladares
Art

Zac Efron splits from Vanessa Valladares

November 26, 2020
Next Post
Critical Race Theory Is A Classic Communist Divide-And-Conquer Tactic

Critical Race Theory Is A Classic Communist Divide-And-Conquer Tactic

Translate

Popular Post

China snub Germany leaving UN Security Council says ‘Good riddance’
Asia

China snub Germany leaving UN Security Council says ‘Good riddance’

December 28, 2020
0

  New York (22/12). Reuters reported the Germany’s United Nations envoy, during his last scheduled UN Security Council meeting, appealed...

Read more
Yes, Donald Trump could win

Yes, Donald Trump could win

July 30, 2016
Citizens must be protected amid ‘rising intolerance’: US to Indian government

Citizens must be protected amid ‘rising intolerance’: US to Indian government

July 30, 2016
5 Reasons Why Trump Will Win

5 Reasons Why Trump Will Win

July 30, 2016
‘Gau Rakshaks’ strike again? Fresh video from Rajasthan surfaces

‘Gau Rakshaks’ strike again? Fresh video from Rajasthan surfaces

July 30, 2016
  • About Us
  • Terms & Conditions
  • Creative Commons
  • Privacy Policy
  • Disclaimer
  • Contact Us

Topics

Follow Us

About Us

Voiceofindia.news is part of the Voice Of India Media Group LLC, which delivers daily news around the globe. ​

© 2015 Voice Of India

No Result
View All Result
  • India News
    • Congress
    • Kashmir
    • Politics
  • Asia
    • China
    • Hong Kong
    • Japan
    • North Korea
    • Oceania
    • Pakistan
    • South Korea
    • Southeast Asia
  • World
    • Africa
    • Canada
    • Europe
    • Latin America
    • Middle East
      • Iraq
      • Israel
      • Jordan
      • Syria
    • Russia
    • United Kingdom
    • United States
  • National Security
    • Cyber Security
    • Military
    • Terrorism
      • ISIS
  • Economy
    • Business
    • Stock Market
    • Science
    • Technology
  • Culture
    • Art
    • Bollywood
    • Books & Literature
    • Food & Drink
    • Health
    • History
    • Lifestyle
    • Movies & TV
    • Music
    • Privacy
    • Religion
    • Travel
    • Women & Children
  • Environment
    • Climate Change
    • Disaster
    • Wildlife / Endangered Species
  • Sports
    • Cricket
    • Auto Racing
    • Cycling
    • Football
    • Golf
    • Olympics
    • Tennis
    • Water Sports

© 2015 Voice Of India