Ambani Ordered to Pay $700 Million in Dispute With Chinese Banks
- Judge rules Anil Ambani provided personal guarantee on loans
- Ambani had said in lawsuit that his net worth was ‘zero’
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Former billionaire Anil Ambani was ordered by a London judge to pay more than $700 million to a trio of Chinese banks following a dispute over defaulted loans.
Ambani offered a personal guarantee on the banks’ loans to his Reliance Communications Ltd. in 2012, Judge Nigel Teare said in a ruling Friday. The tycoon, who has said his net worth is “zero,” has 21 days to make the payment.