A year after declaring bankruptcy, Anil Ambani’s offshore dealings worth $1.3 bn leaked

News Network

October 4, 2021

A year after declaring bankruptcy to a UK court, the Pandora Papers report showed that Reliance ADAG chief Anil Ambani, along with his representatives, has at least 18 offshore companies located in Jersey, Cyprus and other companies, securing wealth in tax havens across the world.

The Indian Express, in a joint investigation led by the International Consortium of Investigative Journalists, reported that of these 18 companies set up between 2007 and 2010, seven have received loans from bank guaranteed by Reliance/Anil Ambani and invested nearly $1.3 billion.

Batiste Unlimited and Radium Unlimited, Ambani’s companies in Jersey, were incorporated between December 2007 and January 2008 and are owned by Reliance Innoventures Pvt Ltd.

Other Jersey companies Summerhill Ltd and Dulwich Ltd are owned by a “representative of Anil Ambani”. Laurence Mutual; Richard Equity Ltd and German Equity Ltd are also based in Jersey and linked to Ambani.

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Mangaluru: Resort owner and manager arrested after pool claims lives of 3 college girls

News Network

November 18,2024

Mangaluru: The Ullal police have arrested Manohar, the owner of Vazco Beach Resort, and its manager Bharath in connection with the drowning of three college girls from Mysuru at the resort’s swimming pool on November 17.

City Commissioner of Police Anupam Agrawal confirmed the arrests, stating that a case has been registered under Section 106 of BNS. The bodies of the victims, all in their twenties, have been handed over to their parents. The women had arrived at the resort for a weekend getaway on November 16.

Following the tragic incident, the resort was sealed by officials led by Mangaluru Assistant Commissioner Harshavardhan. The trade license of the resort, issued on June 13, 2024, has been suspended, and the tourism department has temporarily revoked the resort's registration. These actions prohibit the resort from engaging in any tourism-related activities until further notice.

Someshwara TMC Chief Officer stated that the suspension was due to the resort's failure to implement adequate safety measures, which resulted in the loss of three lives. Further investigations are underway.

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