Skip to content
Subscriber Only

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’
Anil Ambani in 2019.
Anil Ambani in 2019.Photographer: Dhiraj Singh/Bloomberg

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.