The Economic Times
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| 09 August, 2020, 01:52 AM IST | E-Paper

    Anil Ambani firm a 'fraud' in PNB books

    Upon declaring an account as fraud, banks are required to make provisions for 100 per cent of the outstanding loan amount, as per Reserve Bank of India guidelines. PNB had Rs 80 crore of exposure to the Anil Ambani-led Reliance Group company as of July 3 last year.

    The little-known Delhi firm behind the Rs 16,000-crore bid for Anil Ambani's telecom assets

    Amid rising speculations around RCom's final fate, UVARCL has generated a lot of interest in industry and media circles.

    Rs 2.9k crore loan: Yes Bank takes over HQ of Anil Ambani

    Yes Bank, which faced a crisis in March this year on account of bad debts, has substantial loans due from the Anil Ambani group, to which it had an exposure of close to Rs 12,000 crore. In the last two decades, the Anil Ambani group expanded aggressively in new businesses raising high levels of debt.

    NCLT reserves order against Anil Ambani in a plea filed by SBI

    The public sector lender had approached the Mumbai-bench of the National Company Law Tribunal (NCLT) under Section 97(3) of the Insolvency and Bankruptcy Code (IBC), seeking its intervention to direct the insolvency board to nominate a resolution professional (RP) to assess and submit a report on the assets owned by Ambani.

    Anil Ambani says promoters to raise stake in Reliance Infra, Reliance Power

    Promoters holding in the company has reduced to 14.70% after lenders invoked pledge on shares of the company.

    Anil Ambani says lawsuits by Chinese lenders & SBI not related to personal borrowings

    On May 22, a UK court ordered Ambani to pay $717 million (Rs 5,448 crore) to three Chinese banks within 21 days, after ruling that a personal guarantee which the Indian businessman had disputed was binding.

    NCLT posts SBI, Anil Ambani case hearing to June 30

    Last week, SBI had moved the insolvency court to recover more than Rs 1,200 crore from Ambani under the personal guarantee clause of the bankruptcy law.

    SBI takes Anil Ambani to NCLT to recover Rs 1,200 crore

    Anil Ambani had given personal guarantee to the loans given to RCom & Reliance Infratel.

    NCLT adjourns Reliance Communications and Reliance Telecom case to August 19

    According to legal sources, the telecom regulator has filed an application for RCom and Reliance Telecom seeking that provision be made in resolution plan that post paid subscribers get back their unspent money and deposits . Axis Bank also raised a question on its guarantees but both these matters will be heard on August 19 by NCLT.

    Three bids for Anil Ambani’s Delhi power distribution business

    The Anil Ambani-led Reliance Group is looking to sell assets to pay off lenders.

    Resolution plan: NCLT to take call on Reliance Communications' assets on Wednesday

    The National Company Law Tribunal (NCLT) will decide on August 5 if UV Asset Resolution Co Ltd (UVARCL) and Reliance Jio Infocomm (Jio) are the buyers of RCom’s assets . The two firms have been overwhelmingly voted in favour of the resolution plans submitted by UVARCL and Jio by RCom’s lenders .

    Reliance Comm liable to pay SSTL AGR dues, DoT identifies combined liability worth more than Rs 25k cr

    ​​In February 2019, RCom filed for insolvency. Under the proceedings, the DoT has claimed nearly Rs 30,000 crore in dues from RCom, of which over Rs 21,000 crore has been verified by the resolution professional.

    Robinhood investors fuelled rally in these 16 stocks. Can they sustain?

    A comparison of shareholding data for June and March quarters showed retail investors increased stakes in 16 companies in the first half of Calendar 2020.

    SBI moves NCLT to recover Rs 1.2k-cr Reliance Communications loans from Anil Ambani

    SBI moved the NCLT under Section 97(3) of Insolvency and Bankruptcy Code (IBC), seeking its intervention to direct the insolvency board to nominate a resolution professional (RP). The bank is aiming to recover a sizeable amount from the personal guarantees made by Anil Ambani on loans to Reliance Communications, said a bank official.

    London court orders Anil Ambani to pay USD 717 million to Chinese banks

    A UK court on Friday directed Reliance Group chairman Anil Ambani to pay nearly USD 717 million to three Chinese banks pursuing the recovery of funds owed to them as part of a loan agreement within 21 days. At a remotely held hearing, in line with procedures in place for the COVID-19 pandemic, Justice Nigel Teare ruled at the Commercial Division of the High Court of England and Wales in London that a personal guarantee disputed by Ambani is binding on him.London court orders Anil Ambani to pay USD 717 million to Chinese banks

    UK court orders Anil Ambani to pay USD 717 million to Chinese banks

    UK court orders Anil Ambani to pay $717 million (Rs 5,448 crore) to 3 Chinese banks in 21 days.

    Beware! Robinhood investors drive up ADAG & 178 other stocks up to 1,700%

    Analysts have advised investors to adopt caution on these counters despite ongoing momentum.

    Chinese banks go slow on large loans

    Charge filings with the Ministry of Corporate Affairs, compiled by data intelligence provider Propstack, show that ICBC and CDB have not disbursed any large-ticket term loan in India since 2018.

    YES Bank Crisis: Anil Ambani reaches ED office for questioning

    Anil Ambani has reached the Enforcement Directorate office in order to answer some tough questions in connection with the YES Bank moratorium. Initially, he tried to evade the ED summons citing various reasons. Times Now's Herman Gomes brings latest details. Listen in!YES Bank Crisis: Anil Ambani reaches ED office for questioning

    Yes Bank: Anil Ambani appears before ED in Mumbai

    Reliance Group Chairman Anil Ambani appeared before the Enforcement Directorate in Mumbai in connection with a money-laundering probe against Yes Bank promoter Rana Kapoor and others, officials said.

    Yes Bank: ED summons Anil Ambani on March 19

    According to officials, Anil Ambani has been asked to depose at ED's office in Mumbai on Monday as his group companies are one among the big entities whose loans went bad after borrowing from the crisis-hit bank. Ambani's group companies are stated to have taken loans of about Rs 12,800 crore from the bank that turned NPA.

    Anil Ambani fully involved in company operations, says UK Court

    “It is clear that Ambani is not a titular chairman and is involved in running the company," a UK Court said.

    One-time billionaire Anil Ambani says he's now worth nothing

    "The value of my investments has collapsed. I don't hold assets which can be liquidated,” Ambani said.

    Ex-billionaire Anil Ambani pleads poverty in $680 million loan fight

    Anil Ambani has seen his fortune dwindle over recent years, losing his billionaire status.

    Tina Ambani's special anniversary wish for her constants Amitabh-Jaya Bachchan

    Mrs Ambani took to Instagram to share throwback pictures with the couple.

    Anil Ambani’s sons exit board of troubled-Reliance Infrastructure

    A company disclosure to bourses said that the brothers ceased to be on the board from January 31, but did not reveal any reason or if they will play any active role in the company. Shares of the company declined 5% on the BSE on Monday, to Rs 19.85. A company spokesperson declined to comment on the reason behind the exit, stating, “the management has not shared any reason with us.”

    All or nothing? It's Hobson's choice for Anil Ambani's lenders

    The bids have offered very little upfront cash or are unworkable in the current form, said bankers.

    Ambani men get grooming on Family Day; Tina posts photo, says hold your loved ones dear

    Mrs Ambani urged people to enjoy time with their families, even if it is virtually.

    Anil Ambani quits as chairman of bankrupt Reliance Communications

    The development follows RCom's consolidated loss of Rs 30,142 crore for the second quarter, released on Friday.

    YES Bank looks to recover up to Rs 8,000 crore of bad loans: Report

    The CEO of the private lender said the priority is also to get deposits back in the system.

    View: The $680 million question of what Anil Ambani knew

    Ambani will get his day in an English court to prove his lack of awareness. The bar is high, though.

    Anil Ambani to pay $100 mn in conditional order for Chinese banks: UK court

    The lawsuit was filed by Chinese banks which argue that they provided a loan of $925 mn to RCom.

    Anil Ambani was a wealthy businessman, now he is not: UK court told

    The lawsuit was filed by Chinese banks which argue that they provided a loan of $925 mn to RCom.

    Reliance Group companies' shares worth over Rs 3.3 crore sold through open market transactions

    Reliance Capital, on the NSE, closed the counter at Rs 6.6, higher 4.76 per cent.

    Reliance Communications lenders reject resignation of Anil Ambani, 4 other directors

    RCom's September quarter numbers marked the second highest loss posted by any Indian corporate till date.

    Bulk deals: YES Bank sells Reliance Naval shares

    Here’s who bought and sold what in some of the key bulk deals of the day.

    Bulk and Block Deals: Axis Trustee sells Reliance Capital shares

    Axis Trustee Services further sold 88,27,483 shares of Reliance Capital at Rs 4.50 each.

    Anil Ambani dragged to court for $680 million unpaid loan

    Three banks agreed to loan Ambani’s RCom money in 2012, which he has since defaulted on.

    IndusInd to further reduce exposure to Anil Ambani's embattled Reliance group

    The private sector lender said that it had a combined exposure to three debt-laden companies: Zee, DHFL and Anil Ambani led Reliance of about Rs.2100 crore or 1.1 percent of the loan book.

    In a first, Anil Ambani threatened with class action suit at AGM

    At the AGM, a shareholder threatened to file class action suit against the group companies.

    Reliance Infrastructure to cut debt further, to be capital-light: Anil Ambani

    Addressing the shareholders at the AGM, chairman Anil Ambani also said the group's defence businesses will also follow an asset- and capital-light model.

    Anil Ambani faces investors again with vow to cut debt

    Anil Ambani's Reliance Group is planning to pay creditors Rs 150 billion more by March.

    Reliance Capital will no longer be in any lending business: Anil Ambani

    Ambani said his NBFC suffered collateral damage due to a combination of factors.

    Yes Bank: Those summoned by ED seek more time to join probe

    Jet Airways promoter Naresh Goyal excused himself saying he had to attend to an ailing relative, according to the people, and ADAG chairman Anil Ambani said “prior commitments” prevented him from appearing on Monday.

    Anil Ambani’s evidence in case filed by Chinese banks incomplete: UK HC

    Three Chinese lenders had taken RCom chairman to court for allegedly failing to clear $680m dues

    Zee Group says all loan from Yes Bank fully secured as ED summons Subhash Chandra on March 18

    The statement further claimed that "the Zee group has never made any transactions with Rana Kapoor (Yes Bank co-founder and the past MD who is now in ED custody) or his family or for that matter any private entities controlled by them and that "all credit facilities availed were fully secured".

    ED makes another Rs 202 cr graft case against Kapoor, Wadhawans

    Kapoor, the former MD and CEO of Yes Bank, was arrested by the agency on March 8 under provisions of the PMLA (Prevention of Money Laundering Act) as he was allegedly not cooperating in the probe related to the crisis at bank he co- founded after the RBI placed its under a moratorium.

    Reliance Group said its entire debt from Yes Bank is secured; committed to repay

    Reliance Group along side Subhash Chandra's Essel Group were among the large borrowers that Finance Minister Nirmala Sitharaman had named after Yes Bank's board was superseded by the Reserve Bank of India (RBI) and withdrawal restrictions placed.

    ADAG says no exposure to Rana Kapoor, family

    ADAG further said its entire exposure to YES Bank is fully secured.

    Yard sales! Market rout may force Indian tycoons to sell their crown jewels

    The S&P BSE Sensex Index has declined 15% since setting a record high in January.

    Anil Ambani ends talks with Hero FinCorp on insurer sale

    The talks for selling Reliance General Insurance ended after Hero FinCorp struggled to raise funds.

    Reliance Communications files resolution plan with NCLT

    “RCom in accordance with the stipulations contained in Regulation 30 of the SEBI ....hereby informs ...that resolution professional of RCom has duly filed the resolution plan as approved by the CoC with the... NCLT, Mumbai Bench on March 6, 2020 in accordance with Section 30(6) of the Insolvency and Bankruptcy Code, 2016,” said the company.

    Anil Ambani's shipyard risks insolvency as banks spurn debt plan

    Any court ruling favouring the banks would deal another blow to the tycoon’s stressed empire.

    Anil Ambani stock a multibagger! Scrip zooms 600% in a dream run since Sept 9

    That’s the longest winning streak since the company’s trading debut in 2009.

    Anil Ambani may be out of billionaire club

    Interestingly, in 2008 when Anil was ranked sixth among the world’s richest, Mukesh, with a net worth of $43 billion, was at the fifth position.

    Anil Ambani quits as Reliance Communications director a day after dismal Q2 numbers

    Anil Ambani has resigned as director of Reliance Communications, the debt-ridden company said in a filing on Saturday. According to the filing, Ambani along with Chhaya Virani, Ryna Karani, Manjari Kacker, Suresh Rangachar have resigned as directors of RCom. "Your good office may also note that Shri Manikantan V., has also tendered his resignation as a director and Chief Financial Officer of the Company earlier. The aforementioned resignations shall be put up to the committee of creditors of the Company for their consideration," the filing added.Anil Ambani quits as Reliance Communications director a day after dismal Q2 numbers

    Indiabulls up after probe finds no big offences

    It also found that loans it had been probing have all been repaid.

    Gasping NBFCs need urgent help: Anil Ambani

    Reliance Group chief expects new govt and RBI to provide support in the form of immediate liquidity window.

    Reliance Infra shares rise 10% on strong results

    RInfra reported 18% rise in its consolidated net profit to Rs 345.51 for Q3.

    Reliance Infra Q3 profit up 18% at Rs 346 crore

    Reliance Infra's total expenses increased to Rs 4,888.79 crore, as against Rs 4,772.46 crore a year ago.

    Creditors swoop on Indian tycoons’ Rolls Royce, island mansion

    The moves come as India is battling $130 bn of bad debt that has sparked bankruptcies at some companies.

    NCLAT dismisses contempt plea against Anil Ambani, others

    HSBC Daisy and others had moved a contempt plea in the appellate tribunal, alleging that Reliance Infratel had not paid up about Rs 230 crore as mandated by the NCLAT.

    Government issues show-cause notice to Reliance Naval after encashing all bank guarantees in patrol vessel contract

    In fresh punitive action against the Anil Ambani-promoted Reliance Naval and Engineering Limited (R-Naval) for its failure to deliver five naval offshore patrol vessels (NOPVs) under a Rs 2,500 crore deal, the government has issued a show-cause notice to the debt-ridden company and encashed all its different bank guarantees worth around Rs 980 crore.

    Square Yards acquires rental & property management firm Azuro

    Anil Ambani-led Reliance Group's private equity arm had invested $12 million in Square Yards in November 2016.

    NCLAT reserves order on contempt plea against Anil Ambani

    Reliance Infratel, against which also the contempt petition has been filed, is part of RCom.

    Reliance Infra appoints Anil Ambani’s sons Anshul and Anmol Ambani as directors

    Both Anmol and Anshul have been actively involved in all operations of RInfra.

    Anil Ambani seeks to sell or lease out Mumbai HQ

    The 700,000 sq ft Reliance Centre in Santacruz could fetch as much as Rs 1,500-2,000 crore.

    Reliance Power drops 3% as YES Bank sells shares in bulk deal

    The stock is one of the biggest wealth destroyers in the last one year, down 93 per cent.

    Two held for doctoring SC order on Anil Ambani

    While the SC had on Jan 7 this year directed Ambani to appear in the contempt case filed by Ericsson, the order that was uploaded on the court’s website stated that he was not required to show up.

    Anil Ambani gets class action suit threat, but also support from shareholders

    The AGMs of five of the Reliance Group companies were held back-to-back on Monday.

    Anil Ambani assures AGM as Reliance Group scrips tumble to year’s low

    Says over Rs 60,000 cr receivables are stuck in regulatory and arbitration matters.

    Chinese banks demand $2.1 billion from Anil Ambani's RCom

    ​State-owned China Development Bank was the biggest creditor to the indebted telecom firm.

    Adani in early talks to acquire Reliance Power's troubled unit

    The talks between billionaire Gautam Adani-led group and Anil Ambani-led Reliance Power are at an early stage, the persons cited earlier told ET.

    Reliance Home Finance gave Rs 12,000 crore loans to 'indirectly linked' borrowers: Forensic audit

    The forensic auditor found “anomalies” in the credit appraisal process of the home financier and noted that more than 80% of disbursals comprised corporate loans to a group of 47 borrowers that shared these common characteristics, according to these people. This included similar registered addresses, common directors and key management personnel.

    Forensic audit finds no fraud, fund diversion at Reliance Home Finance

    Lenders of the company had appointed Grant Thornton for the audit, as required under the RBI guidelines.

    RInfra’s sale of Delhi-Agra toll road receives NHAI approval

    Reliance Infrastructure will use 100 per cent of the proceeds from the sale to pay lenders .

    The slogan I'm pushing across the group is 'death of debt': Anil Ambani

    Anil Ambani talks about his plans of monetising assets to reduce debt and his focus on capital-light businesses.

    Anil Ambani said to have found a new buyer for Big FM

    Jagran Prakashan-owned Music Broadcast is set to acquire Big FM for close to Rs 1,200 crore.

    RCom's committee of creditors to meet on Wednesday

    Reliance Communications' committee of creditors (CoC) will hold a meeting on Wednesday, the company said in a regulatory filing on Tuesday.

    Rafale deal: Anil Ambani to withdraw defamation suits against Cong, Herald

    Anil Ambani's Reliance Group has decided to withdraw the Rs 5,000-crore civil defamation suits filed in an Ahmedabad court against Congress leaders and National Herald newspaper over their statements and an article on the controversial Rafale fighter jet deal.Rafale deal: Anil Ambani to withdraw defamation suits against Cong, Herald

    Anil Ambani to withdraw defamation suits against Congress, Herald

    The defamation suits were filed against the National Herald's editor Zafar Agha, and Vishwadeepak, the author of a news article published by it.

    Anil Ambani’s Reliance Naval facing cash crunch amid debt revamp

    Reliance Naval said it is facing an acute cash-flow crunch after orders dried up amid efforts to restructure debt.

    The call Anil Ambani never got from Jio

    The Supreme Court had directed DoT to approve RCom’s pact to sell spectrum to Jio after a Rs 1,400 crore guarantee.

    Anil Ambani has money for Rafale, not for us: Ericsson

    Swedish telecom company Ericsson rejected the industrialist's plea of fund crunch as an excuse claiming that his group had made enough profit to invest in the Rafale deal.

    2019: The year Indian tycoons faced bankruptcies, jail and even death

    Banks wrote off $39 billion loans in 18 months as they battled the world’s worst bad debt pile.

    Adani Electricity set to raise up to $1.5 billion abroad

    The proceeds will be used to expand capacity and refinance loans taken to fund the acquisitions.

    Amid Ericsson heat, Anil Ambani wants the AC on

    Feeling warm inside the packed court room, Ambani asked why the air conditioning wasn’t on, only to be told he won't have his wish.

    Anil Ambani's RCom's bankruptcy begins; next hearing on May 30

    With this, RCom, which owes over Rs 50,000 crore to banks, has become the first Anil Ambani group company to be officially declared bankrupt.

    Life Insurance Corp of India raises 2018-19 provisioning by 30%

    In absolute terms, LIC’s NPAs stood at Rs 24,777 crore on March 31, out of a total debt of Rs 4 lakh crore.

    NCLT begins bankruptcy process for Anil Ambani's Reliance Communications

    RCom's committee of creditors will have to approve a new RP with a 66 percent vote after the NCLT starts the insolvency process.

    Zee group, Anil Ambani firms lead in share pledges with lenders

    Zee and Dish TV have their promoter pledging 66.2 percent and 94.6 percent of the ownership pledged.

    Anil Ambani group calls heavy selling ‘motivated’

    L&T Finance, Edelweiss refute allegations, say had no option but to sell pledged shares.

    Anil Ambani needs $2 billion in asset sales to save last bastion

    The company told exchanges on April 27 that it only has short-term debt of Rs 950 crore.

    Lenders to Anil Ambani’s RCom face steep haircut

    Banks have decided to shortlist a resolution professional from a field of 15 players after NCLAT allowed resumption of insolvency resolution action against RCom.

    If you thought it could not get any worse for Anil Ambani, think again

    Reports have just revealed a coming trial that could be the beleaguered businessman's most bitter harvest yet.

    Reliance Home Finance seeks lenders' nod to repay bondholders in January

    The company owes Rs 91.78 crore, includes both principal and the interest, to 19,964 retail bondholders but is unable to pay because of a restraint placed by the lenders as it is undergoing is a bank-led resolution process.

    No political interference in tax settlement with Anil Ambani's firm: France

    "A global settlement was reached between the French tax authorities and Reliance Flag in a tax dispute pertaining to the period 2008-2012," the French embassy said.

    With over Rs 9,000 crore debt, Anil Ambani's Reliance Naval now stares at bankruptcy

    The Anil Ambani company has not been servicing its Rs 9,000 cr of debt for several months now.

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