Deeply spiritual, no non-veg, no liquor, no smoking, sold gold, own only one car: Anil Ambani tells UK court

News Network
September 26, 2020

ambani.JPG

London, Sept 26: Reliance Group chairman Anil Ambani has told a UK court that suggestions of his lavish tastes are speculative because his lifestyle is "very disciplined" as he gave evidence in a dispute involving a loan agreement with three Chinese banks.

The 61-year-old former billionaire appeared via videolink from Mumbai before the High Court on Friday for compulsory cross-examination in aid of an asset disclosure order obtained by the Industrial and Commercial Bank of China Ltd Mumbai Branch, China Development Bank and Exim Bank of China.

The order required Ambani to give full disclosure of all of his assets worldwide exceeding USD 100,000. "My needs are not vast and my lifestyle is very disciplined," Ambani told the London court.

Asked about his fleet of luxury cars and other references to his lavish lifestyle as the counsel for the banks cross-examined him, the Reliance Communications chief dismissed them as "speculative" media stories.

He also said that he has sold his gold jewellery to pay his legal fees and drives just one car. He further said that he had received Rs 9.9 crore for all his jewellery between January and June 2020 and now does not own anything meaningful.

"Mr Anil Ambani has always been a simple man of simple tastes, contrary to exaggerated perceptions of his flamboyance and lavish lifestyle," said a spokesperson for Anil Ambani.

"He is devoted to his family and company, an avid marathon runner, and deeply spiritual. He is also a lifelong vegetarian, teetotaller and non-smoker who would much rather watch a movie at home with his kids than go out on the town. Reports that suggest otherwise are completely misleading," the spokesperson said.

The dispute revolves around an alleged breach of a personal guarantee on a company debt refinancing loan of around USD 925 million dating back to February 2012.

Ambani denies providing authority for any such guarantee, resulting in the High Court action in the UK – the jurisdiction agreed upon as part of the terms of the loan agreement.

In May, the Commercial Division of the High Court of England and Wales in London had ruled that the personal guarantee was binding on Ambani and directed him to pay early USD 717 million to the three Chinese banks.

"The banks will use the information from the cross-examination to pursue all available legal avenues to protect their rights and recover the outstanding loans owed to them,” the banks said in a statement this week.

At a hearing in the case earlier in the year, a UK judge had ruled that he did not accept Ambani's defence that his net worth was nearly zero or that his family would not step in to assist him when "push came to shove".

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
October 27,2024

soldiers.jpg

The death toll from the overnight Israeli aggression against a number of military positions across Iran has risen to four.

Earlier the Iranian Army had announced the martyrdom of two of its forces in the Israeli attack, who lost their lives “while confronting the projectiles of the criminal Zionist regime in order to safeguard the security of Iran and prevent harm to the Iranian nation and interests.”

Media reports identified the two martyred Army forces as Major Hamzeh Jahandideh and Sergeant Mohammad-Mehdi Shahrokhifar.

Major Sajjad Mansouri and Sergeant Mehdi Naghavi, who had been injured in line of duty, also succumbed to their injuries, reports said.  

The strikes targeted parts of military sites in the capital Tehran as well as the western and southwestern provinces of Ilam and Khuzestan, with Iran’s air defense saying the attacks were “successfully intercepted and countered.”

The attacks caused “limited damage” in some locations and the dimensions of the incident are under investigation.

Despite Israeli media reports overplaying the Israeli attack by circulating fake images, the Iranian public returned to their routines and daily life continued smoothly across the country.

Iran’s Civil Aviation Organization announced that flights had resumed after a short interruption and footage from Mehrabad Airport in western Tehran showed operations running normally, with passengers moving through as usual.

The Tehran Oil Refining Company also dismissed rumors of an Israeli attack on its facilities.

On October 1, Iran responded to the Israeli assassination of Hamas political bureau chief Ismail Haniyeh, Hezbollah Secretary General Sayyed Hassan Nasrallah, and senior IRGC commander Abbas Nilforoushan by launching as many as 200 ballistic missiles toward the occupying regime’s military and intelligence bases all over the occupied Palestinian territories.

Dubbed Operation True Promise II, the retaliatory strike dealt a severe blow to the illegal regime all the more ruinous than its prequel in April, with Tel Aviv having so far declined to reveal the extent of loss it suffered despite vowing to respond on several occasions.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
October 31,2024

Bengaluru: Karnataka Chief Minister Siddaramaiah on Thursday alleged that BJP was raking up the "Waqf issue" with an eye on the upcoming assembly by-polls in the state and elections in neighboring Maharashtra.

Following allegations by a section of farmers in certain parts of the state that their lands were marked as Waqf properties, he reiterated that none of them will be evicted, and notices issued to them will be withdrawn.

"BJP is doing politics. Notices were issued during their (BJP) tenure too, what do they have to say about it? During BJP's tenure over 200 notices were given. One should not practice such dual politics," Siddaramaiah said.

Speaking to reporters here, the CM said, "I have already said that the notices will be withdrawn, where is the issue? In case the notices are issued they will be withdrawn and no one will be evicted, where is the issue?" "Whichever district it is...They (BJP) had also given notices in several districts. Why did they give? Why are they doing such politics? In case notices were served by our government, they will be withdrawn and no farmers will not be evicted....the protest they have planned on November 4 is for politics keeping in mind by-polls in three segments and Maharashtra elections," he added.

A section of farmers from Vijayapura district have alleged that their lands were marked as Waqf properties, and similar allegations have surfaced from a few other places.

The BJP is planning a statewide agitation on November 4, demanding the resignation of Minority Welfare and Waqf Minister B Z Zameer Ahamed Khan, and against the Congress government over the issue.

Accusing the BJP of only doing politics and and not speaking the truth, Siddaramaiah said, "they only speak lies, they make issue out of non issue. Is there any issue in MUDA (site allotment case, in which he is accused and facing probe)? They wanted to make a non issue, an issue." Channapatna, Shiggaon and Sandur Assembly segments will go for by-polls on November 13.

The CM said he will go for campaigning in three assembly segments that will go for bypolls, from November 4 to 11.

He expressed confidence about Congress winning all the three segments.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
coastaldigest.com news network
November 5,2024

watermetro.jpg

Mangaluru: The Karnataka Maritime Board (KMB) has initiated the groundwork for the much-anticipated Mangaluru Water Metro Project (MWMP). The project, which was first announced by Chief Minister Siddaramaiah during the state budget presentation, aims to introduce water-based public transport along the Gurupur and Netravathi rivers in Mangaluru.

The proposed Mangaluru Water Metro will follow in the footsteps of Kochi's successful Water Metro system, which has become a model for eco-friendly and efficient urban transport in India. The KMB will now conduct necessary feasibility studies to assess how this concept can be adapted to Mangaluru's unique geographical and urban landscape.

A 30-Kilometer Stretch Connecting 17 Key Locations
According to a senior officer from KMB, the project will span a 30-kilometer route that connects key points across the rivers and coastline. The water metro service will cover locations such as Bajal, Kulur Bridge, New Mangaluru Port, Sultan Battery, Tannirbhavi, Old Port, Hoige Bazaar, and Someshwar Temple. The service aims to link 17 important points, benefiting both daily commuters and tourists. This initiative not only seeks to reduce congestion in Mangaluru but also promises to boost tourism and recreational activities by providing an alternative mode of transport.

Focus on Eco-Friendly and Efficient Water Transport
The Mangaluru Water Metro will feature modern catamaran boats, which may be powered by electric or diesel engines. These boats will be equipped with essential amenities to ensure smooth and safe operations. The project’s emphasis on sustainability means that the boat fleet will be designed to minimize environmental impact, making water transport both eco-friendly and economically viable.

Feasibility Study to Shape Project Design
The initial feasibility report will cover several crucial aspects, including the placement of water metro stations. These locations will be chosen based on factors such as passenger demand, availability of land, connectivity to other transport modes, and sustainability. A detailed LiDAR (Light Detection and Ranging) survey will further aid in mapping the river routes and surrounding areas, providing precise data for the project’s planning phase.

In addition to assessing operational needs, the feasibility study will also project future demand for water metro services over the next 25 years. By exploring various scenarios, planners can ensure that the water metro is designed to accommodate both current and future user requirements.

Special Purpose Vehicle for Project Management
The report is expected to recommend creating a Special Purpose Vehicle (SPV) to manage the project. This independent entity would help secure funding, attract investors, and ensure professional oversight, enhancing the project's credibility and long-term viability.

What is the Mangaluru Water Metro Project?
The Mangaluru Water Metro Project aims to introduce a sustainable water-based public transport system to alleviate traffic congestion in the city and promote tourism. Inspired by the Kochi Water Metro, the project will create a seamless and eco-friendly transport option along the Gurupur and Netravathi rivers, covering key points across the city’s riverside and coastal areas.

Once operational, the Mangaluru Water Metro will offer a modern, efficient, and scenic alternative to road transport, helping transform urban mobility in the city while boosting tourism and reducing environmental impact.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.