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250 Crores Loan Of Anil Ambani Gets Him Into Major Trouble

anil ambani reliance
The case is going on in court number 58 of the Bandra Metropolitan Magistrateโ€™s Court and the next hearing will be held on the 12th.

 

Mumbai: Famous businessman Anil Ambaniโ€™s Reliance Communications Limited took a short-term loan of 250 crores from Dena Bank in February 2017. However, even after 4 years, this loan has not been repaid. This loan was not repaid despite repeated written instructions. Therefore, now there is a possibility that the problems will increase for Anil Ambani, the managing director of the company.

In January 2017, Reliance Communications Limited applied to Dena Bank for approval of a short-term loan of Rs 250 crore. Following this, in February 2017, Dena Bank approved the loan. It also allowed for repayment to be made from the companyโ€™s assets or excess cash flow in case of default. However, due to non-payment of the loan even after the passage of time, Dena Bank approached the court. Accounts of Reliance Communications Limited were classified as non-performing assets on December 31, 2017 as a result of payment as per the Act and guidelines issued by the Reserve Bank of India.

In September 2018, Dena Bank filed a complaint against Reliance Communications Limited under Sections 138, 141 and 142 of the Negotiable Instruments Act, 1881.Dena Bank was merged with Bank of Baroda in 2019 and after the merger, Bank of Baroda executed Power of Attorney. The complaint was filed against Reliance Communications Limited, Anil Dhirajlal Ambani, Punit Garg, Suresh Rangachar, Manikanthan Viswanathan, Viswanath D and Jaywant Prabhu. However, still the loan from Reliance Communications Limited has not been cleared.

The case is going on in court number 58 of the Bandra Metropolitan Magistrateโ€™s Court and the next hearing will be held on the 12th. Considering the seriousness of the case, Chief Metropolitan Magistrate MY Wagh on August 30 ordered to issue summons for Anil Ambani and 6 others.

 

Also Read : โ€œWhat Message Are We Sending?โ€ Mumbaikars Hold Silent Protest In Support of Bilkis Bano

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MNS Chief Raj Thackeray Visits Mumbaiโ€™s Lalbaugcha Raja

ANI
Lalbaugcha Raja

A day ago the Lalbaugcha Raja witnessed actor, Tamanna Bhatia, and her โ€˜Babli Bouncerโ€™ director Madhur Bhandarkar offering prayers to Lord Ganesha.

Mumbai: Amid the ongoing Ganesh Chaturthi festival, Maharashtra Navnirman Sena (MNS) chief Raj Thackeray offered prayers at the iconic Ganesh Mandal on Sunday in Mumbai, Lalbaugcha Raja.

The history of the Lalbaugcha Raja has been quite famous since ancient times as it is the popular Ganesh Idol of Lalbaugcha Raja Sarvajanik Ganeshotsav Mandal, located at Putlabai Chawl. This worship place was founded in 1934. The Lalbaugcha Raja Ganpati idol has been organized by the Kambli family for over eight decades. After the two-year gap of COVID, devotees thronged in for the darshan of Lord Ganesh and offered prayers.

A day ago the Lalbaugcha Raja witnessed actor, Tamanna Bhatia, and her โ€˜Babli Bouncerโ€™ director Madhur Bhandarkar offering prayers to Lord Ganesha.
This year, in collaboration with Jio Mart and Paytm, they will try to deliver the prasad at the doorsteps of the devotees. The prasad on Jio Mart is in the form of Laddus and will only take orders for Mumbai, Navi Mumbai, and the Thane region.

Ganesh Chathurthi or Ganpati Utsav, which starts on the fourth day of the Hindu lunisolar calendar month of Bhadrapada, is celebrated with much fanfare in Maharashtra and other parts of western and southern India with lakh of devotees converging into pandals to seek blessing from Lord Ganesh.

(Except for the headline, this story has not been edited by HW News staff and is published from a syndicated feed.)

 

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