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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.

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.

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

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

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.

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 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.

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.

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.”

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.

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.

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.

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 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.

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 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.

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.

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.

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.

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.

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 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

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.

Indiabulls up after probe finds no big offences

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

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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 .

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.

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.

NCLAT reserves order on contempt plea against Anil Ambani

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

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.

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.

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.

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.

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.

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.

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 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.

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.

Slowdown grounds business jets as the rich tighten purse strings

India Inc is looking to tighten its belt amid the economic slowdown as it gives up on jets.

RCom Insolvency: CoC expects to raise Rs 14,000 cr from assets

Assets up for sale include airwaves in the 850 MHz band in 14 of India’s 22 telecom circles, about 43,000 telecom towers, some fibre and data centres. Bharti Airtel has made the highest bid of Rs 9,000 crore and has offered upfront payment but wants all the assets and not parts of it.

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.

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.

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.

Crisis in the telecom sector casts shadow over 5G spectrum auction

Ernst & Young has estimated that it would cost $100 billion or so to launch 5G in India.

Reliance Jio likely to bag Reliance Infra's mobile tower, optical fibre for Rs 3,600 crore

Reliance Communications, which is undergoing insolvency proceedings, has put all its assets for sale, which include spectrum holding of 122 MHz that the company before insolvency proceedings estimated to be around Rs 14,000 crore, tower business worth Rs 7,000 crore, optical fibre network worth Rs 3,000 crore and data centres worth Rs 4,000 crore.

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.

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.

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 group calls heavy selling ‘motivated’

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

Airtel, Jio bid for RCom telecom assets

Bharti Airtel, Reliance Jio, Varde Capital and UV Asset Reconstruction Company have submitted bids to buy assets of debt-ridden Reliance Communications.

Airtel, Jio, 2 others eye Reliance Communications assets as bids open on Monday

While Airtel and Jio are expected to bid mainly for RCom's 850 MHz spectrum, I Squared Capital is likely to vie for the telco's data centres and optic fibre assets. RCom's 43,000 towers, housed under Reliance Infratel, are also up for sale.

RCom's committee of creditors to meet on Nov 20

Last week, Rcom Chairman Anil Ambani along with four directors had resigned from the company. The company posted a consolidated loss of Rs 30,142 crore for September 2019 quarter due to provisioning for liabilities after the Supreme Court ruling on statutory dues. This had marked the second highest loss posted by any Indian corporate till date.

Moody's downgrade ratings of RCom subsidiary GCX

The rating downgrade on GCX's corporate family rating to Ca from Caa1 follows the payment default on the company's USD 350 million 7 per cent senior secured notes.

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.

How trust deficit at multiple levels is hampering animal spirits and growth in India

India’s economy and businesses are facing many measurable, well-understood challenges. But an invisible crisis that is just as corrosive and harder to fix is underway: the erosion of trust. This is playing out at multiple levels.

Reliance Capital defaults on bond repayment obligations

On September 20, CARE Ratings had downgraded the RCAP's entire outstanding debt to default.

Committee of creditors extends RCom's asset bid deadline by 10 days

Bharti group and private equity firm Varde Partners have submitted their bids for assets of RCom. The deadline extension was granted in anticipation of other suitors joining the fray.

From MF, radio arms to head office, Anil Ambani selling anything that has a price

Asset sales would help Ambani bolster the financial health of his group’s companies.

SBI probe flags Rs 5,500 crore deals among Anil Ambani companies

SBI has ordered an investigation — it suspects diversion of funds, evergreening of loans, preferential transactions.

Anil Ambani thanks elder brother Mukesh Ambani for paying Ericsson dues

Anil Ambani faced a jail term of three months if the money due to Ericsson hadn't been paid by March 19.

How did it go this bad for Anil Ambani? The unmaking of a billionaire

Anil Ambani has been told to pay Ericsson Rs 453 crore by Tuesday or face jail.

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