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The suits that followed Anil Ambani VS Ericsson
In 2019, Anil Ambani lost a suit to Ericsson in which he had to pay Rs. 550 crores to Ericsson as a personal guarantee debt. Mukesh Ambani stepped in to help him at the last moment in order to avoid jail time. Mukesh entered in a deal with Anil where Reliance Communication would be sold to Jio which would bring alive the Brookfield deal too and Mukesh would get a pair of 99 year old leases of office buildings. But, the Telecom department asked Jio to take responsibility for RCom’s dues which again failed the deal. The deal would have fetched Anil Ambani Rs. 18,000 crores.
Anil Ambani VS Chinese Banks
 Anil Ambani owed approximately $700 million to three Chinese banks, Industrial and Commercial Bank of China Ltd Mumbai Branch, China Development Bank, and Exim Bank of China. With proceedings in a UK court, he was asked to deposit $100 million into the court, Anil Ambani stated, “The current value of my shareholdings is down to approximately $82.4 million and my net worth is zero after taking into account my liabilities. In summary, I do not hold any meaningful assets which can be liquidated.”
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Highlights

FROM THE EDITOR

FROM THE EDITOR

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The story of Ambani - the younger one - Anil Ambani

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