Britain's court gives great relief to Anil Ambani

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New Delhi, December 16, 2019 Monday

Britain's High Court on Monday granted a major concession to country's renowned businessman Anil Ambani in his favor.

Britain's High Court overturns a $ 68 million lawsuit filed by a Chinese bank against Reliance ADAG chairman Anil Ambani.

However, the court told Ambani's lawyers that during the trial, evidence presented that the claim of the Chinese bank was without merit.

Ambani's team has assured that after all the facts and witnesses are presented before the court, their position will come out completely,

What is the matter

In June this year, there were reports that according to a filing given by an Indian company on the Stock Exchange, China's major bank, China Development Bank, Industrial and Commercial Bank of China and Exim Bank of China, sought $ 2.1 billion from Anil Ambani's company.

Government Tea Development Bank loaned $ 98.6 billion to the telecom company. Similarly, Exim Bank of China claimed $ 33.6 billion while the Industrial and Commercial Bank of China claimed.

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