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UK Court directs Anil Ambani to pay $717 million to Chinese banks

Shortpedia

Content Team

A UK court on Friday directed Reliance Group chairman Anil Ambani to pay nearly $717 million (around Rs 5,446 crore) within 21 days to three Chinese banks pursuing the recovery of funds owed to them as part of a loan agreement. Reliance Com took a loan of over $700 million in February 2012 from three Chinese Banks which Anil Ambani provided personal guarantee to. The court passed the order in an online hearing on Friday.