Few tycoons appear in London to declare poverty, but last month Anil Ambani did.
Once one of the world’s richest men with a fortune estimated at more than $40bn by Forbes, the Indian businessman is being pursued through the UK courts by creditors, led by Industrial and Commercial Bank of China, after last year’s collapse of his telecoms company Reliance Communications.
In a bruising battle that began in 2019, a trio of Chinese banks are seeking to enforce an order made in May by the High Court in London instructing Mr Ambani to repay $717m in loans made in 2012 to RCom, the centrepiece of a group that spanned telecoms, finance and entertainment.
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