Anil Ambani is constantly getting caught in deep crisis. His company Reliance Infrastructure has failed to repay its debt of Rs 3,315 crore. Along with this, the lenders to Reliance Infrastructure's promoted company Reliance Naval and Engineering Ltd. have started preparing to sell it. Proposals have been sought from interested companies.
33 companies had taken loans, it is difficult to repay
In the annual report (2019-20) of Reliance Infrastructure, it has been said that it has defaulted in repaying its loan of Rs 3315 crore. The company has failed to repay both principal and interest. The company has failed to repay 33 different lenders and non-convertible debenture (NCD) series.
Meanwhile, preparations have begun to sell the group company Reliance Naval and Engineering under IBC. It has a debt of Rs 43,587 crore and for its recovery the process of selling it has started. Its promoter company is Reliance Infrastructure.
Anil Ambani was once the sixth richest man in the world. But today their stars are in greed. Compared to his brother Mukesh Ambani, he has lagged behind in the race to build assets. Their companies have debt of more than 90 thousand crores.
Anil Ambani suffered the most from his communication, infrastructure and financial business. Their troubles started increasing from 2014.
In March 2008, the market capitalization of Anil Ambani-led company was more than 2 lakh 36 thousand crore, but in February 2019, its price was just 25 thousand crore rupees. When three Chinese companies filed a claim against them for recovery of their debt of Rs 5000 crore in the UK court, Anil Ambani said that they do not have any money. His net worth is zero.
