Anil Ambani sued by Chinese banks in London court for unpaid loans of $680 million

03:00:00 PM, Saturday 9th of November 2019 | in business

Anil Ambani has been sued by three Chinese banks in a London court for failing to pay back $680 million in defaulted loans. Anil Ambani's firm Reliance Communications Limited was granted a loan of $925.2 million by the Industrial & Commercial Bank of China Ltd., China Development Bank and the Export-Import Bank in 2012. ICBC’s lawyer Bankim Thanki told the court that the loan was provided on Ambani's personal guarantee.