National

More trouble for Anil Ambani

It looks like Anil Ambani can’t seem to catch a break these days, as further bad news was in store for the younger Ambani, when financial creditors (led by SBI) of debt ridden Reliance Communications, which is undergoing insolvency proceedings, opposed his companies plea to appropriate an income tax refund worth nearly ₹ 260 crore lying in a bank account to clear dues owed to Swedish telecom equipment maker Ericsson.

Just last week on Feb 20th, the Supreme Court held Anil Ambani and two other directors guilty for contempt of court for willfully violating its orders and not paying ₹ 550 crore it owed to Ericsson. The apex court gave an ultimatum to Ambani and the other directors that if they do not pay ₹ 453 crore within 4 weeks, they will face a three month prison sentence.

Reliance Communications has already deposited a sum of ₹ 131 crores (net of tax ₹ 118 crores) with the Supreme Court registry. RCom’s lenders however, opposed the company’s plea saying that the refund amount of ₹ 260 crores should be used to pay their dues and that Ericsson’s dues should come from independent sources.

 

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Trump on Cohen’s testimony: ‘He lied’ and ‘no collusion’

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Hanoi | President Donald Trump sought again to discredit Michael Cohen on Thursday after his former long-time lawyer’s bombshell congressional testimony in which he called Trump a racist and a conman.

“He lied a lot,” Trump told a press conference in Vietnam after his summit with North Korean leader Kim Jong Un.

Trump insisted Cohen’s testimony Wednesday had provided no evidence the Trump campaign had colluded with Russia in the 2016 US election and that this is what mattered most in the keenly awaited session before a House committee.

Cohen, who also worked as Trump’s fixer, told lawmakers he had no direct knowledge of collusion but that he had suspicions.

Trump however insisted his former lawyer said no collusion had taken place.

“And I was a little impressed by that. He could have gone all-out. He went 95% instead of 100%. The fact is, there is no collusion,” said Trump.

“He didn’t lie about one thing. He said, no collusion with the Russian hoax. And I said, I wonder why he didn’t lie about that, too, like everything else,” said Trump.

The president did not address any of Cohen’s specific, damning allegations about his decade of working with Trump.

Cohen said for instance that Trump directed him last year to lie about hush payments made to a porn actress to silence her claims of an affair with Trump.

He also said Trump knew in advance in mid-2016 that WikiLeaks would publish emails stolen from rival Hillary Clinton’s campaign by the Russians.

And Cohen asserted that personal lawyers for Trump and his family reviewed and edited his written testimony to Congress in 2017 in which he lied about a Moscow real estate deal that was negotiated through the presidential election.

The president complained that the Cohen testimony took place during the summit with Kim.

“I think having a fake hearing like that and having it in the middle of this very important summit is really a terrible thing,” Trump said.

Trump again insisted the probe into Russian collusion is a “hoax” and a “witch hunt.”

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