Deeply spiritual, no non-veg, no liquor, no smoking, sold gold, own only one car: Anil Ambani tells UK court

News Network
September 26, 2020

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London, Sept 26: Reliance Group chairman Anil Ambani has told a UK court that suggestions of his lavish tastes are speculative because his lifestyle is "very disciplined" as he gave evidence in a dispute involving a loan agreement with three Chinese banks.

The 61-year-old former billionaire appeared via videolink from Mumbai before the High Court on Friday for compulsory cross-examination in aid of an asset disclosure order obtained by the Industrial and Commercial Bank of China Ltd Mumbai Branch, China Development Bank and Exim Bank of China.

The order required Ambani to give full disclosure of all of his assets worldwide exceeding USD 100,000. "My needs are not vast and my lifestyle is very disciplined," Ambani told the London court.

Asked about his fleet of luxury cars and other references to his lavish lifestyle as the counsel for the banks cross-examined him, the Reliance Communications chief dismissed them as "speculative" media stories.

He also said that he has sold his gold jewellery to pay his legal fees and drives just one car. He further said that he had received Rs 9.9 crore for all his jewellery between January and June 2020 and now does not own anything meaningful.

"Mr Anil Ambani has always been a simple man of simple tastes, contrary to exaggerated perceptions of his flamboyance and lavish lifestyle," said a spokesperson for Anil Ambani.

"He is devoted to his family and company, an avid marathon runner, and deeply spiritual. He is also a lifelong vegetarian, teetotaller and non-smoker who would much rather watch a movie at home with his kids than go out on the town. Reports that suggest otherwise are completely misleading," the spokesperson said.

The dispute revolves around an alleged breach of a personal guarantee on a company debt refinancing loan of around USD 925 million dating back to February 2012.

Ambani denies providing authority for any such guarantee, resulting in the High Court action in the UK – the jurisdiction agreed upon as part of the terms of the loan agreement.

In May, the Commercial Division of the High Court of England and Wales in London had ruled that the personal guarantee was binding on Ambani and directed him to pay early USD 717 million to the three Chinese banks.

"The banks will use the information from the cross-examination to pursue all available legal avenues to protect their rights and recover the outstanding loans owed to them,” the banks said in a statement this week.

At a hearing in the case earlier in the year, a UK judge had ruled that he did not accept Ambani's defence that his net worth was nearly zero or that his family would not step in to assist him when "push came to shove".

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News Network
May 12,2024

Mangaluru, May 12: In a shocking development, a group of pilgrims which had travelled from Mangaluru International Airport to Saudi Arabia earlier this month, to perform Umrah has alleged that 26,432 Saudi Riyals, which were kept in a bag, have been stolen. 

In a complaint submitted to the Bajpe Police, Soukath Banu, wife of Ahmed Iqbal of Ajyad Tours and Travels, said that her husband, Ahmed Iqbal, along with 35 members, planned and scheduled to perform the Umrah and were travelling from Mangaluru International Airport (MIA) via Mumbai to Jeddah. 

Soukath Banu had given Ahmed Iqbal 2,000 Saudi Riyals for performing Umrah and other expenses. The group members were also told to bring Saudi Riyals to meet their expenses.

In her plaint, Soukath stated that the group had left for Jeddah on an IndiGo flight via Mumbai, and their return ticket to India was booked for May 13. 

At the airport, she said that 26,432 Saudi Riyals were collected in total, and they decided to keep them in baggage that had a lock. Accordingly, it was kept in the bag of Mohammad Badruddin Kadambar. The airport staff had even questioned what he had kept in the bag. 

The group reached Jeddah on May 1. To their surprise, Kadambar found that the baggage lock was broken open, the zip was damaged, and cash was stolen upon reaching Jeddah.

DCP (Law and Order) Sidharth Goyal said that following the complaint, one round of CCTV checks was conducted at the MIA along with the CISF personnel. The loading at the MIA was intact.

Further checks have to be carried out at Mumbai and Jeddah Airport as the victim found out that cash was missing only when they got the bag at the final destination, he added.

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News Network
May 11,2024

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Washington, May 11: The most powerful solar storm in more than two decades struck Earth on Friday, triggering spectacular celestial light shows from Tasmania to Britain -- and threatening possible disruptions to satellites and power grids as it persists into the weekend.

The first of several coronal mass ejections (CMEs) -- expulsions of plasma and magnetic fields from the Sun -- came just after 1600 GMT, according to the National Oceanic and Atmospheric Administration (NOAA)'s Space Weather Prediction Center.

It was later upgraded to an "extreme" geomagnetic storm -- the first since the "Halloween Storms" of October 2003 caused blackouts in Sweden and damaged power infrastructure in South Africa. More CMEs are expected to pummel the planet in the coming days.

Social media lit up with people posting pictures of auroras from northern Europe and Australasia.

"We've just woken the kids to go watch the Northern Lights in the back garden! Clearly visible with the naked eye," Iain Mansfield in Hertford, England, told AFP.

That sense of wonder was shared in Australia's island state of Tasmania.

"Absolutely biblical skies in Tasmania at 4 am this morning. I'm leaving today and knew I could not pass up this opportunity," photographer Sean O' Riordan posted on social media platform X alongside a photo.

Authorities notified satellite operators, airlines, and the power grid to take precautionary steps for potential disruptions caused by changes to Earth's magnetic field.

Elon Musk, whose Starlink satellite internet operator has some 5,000 satellites in low Earth orbit, described the solar storm as the "biggest in a long time."

"Starlink satellites are under a lot of pressure, but holding up so far," Musk posted on his X platform.

Unlike solar flares, which travel at the speed of light and reach Earth in around eight minutes, CMEs travel at a more sedate pace, with officials putting the current average at 800 kilometers (500 miles) per second.

The CMEs emanated from a massive sunspot cluster that is 17 times wider than our planet. The Sun is approaching the peak of an 11-year cycle that brings heightened activity.

'Go outside tonight and look'

Mathew Owens, a professor of space physics at the University of Reading, told AFP that how far the effects would be felt over the planet's northern and southern latitudes would depend on the storm's final strength.

"Go outside tonight and look would be my advice because if you see the aurora, it's quite a spectacular thing," he said. People with eclipse glasses can also look for the sunspot cluster during the day.

In the United States, this could include places such as Northern California and Alabama, officials said.

NOAA's Brent Gordon encouraged the public to try to capture the night sky with phone cameras even if they couldn't see auroras with their naked eyes.

"Just go out your back door and take a picture with the newer cell phones and you'd be amazed at what you see in that picture versus what you see with your eyes."

Spacecraft and pigeons

Fluctuating magnetic fields associated with geomagnetic storms induce currents in long wires, including power lines, which can potentially lead to blackouts. Long pipelines can also become electrified, leading to engineering problems.

Spacecraft are also at risk from high doses of radiation, although the atmosphere prevents this from reaching Earth.

NASA has a dedicated team looking into astronaut safety and can ask astronauts on the International Space Station to move to places within the outpost that are better shielded.

Following one particularly strong flare peak, the US Space Weather Prediction Center said users of high-frequency radio signals "may experience temporary degradation or complete loss of signal on much of the sunlit side of Earth."

Even pigeons and other species that have internal biological compasses could also be affected. Pigeon handlers have noted a reduction in birds coming home during geomagnetic storms, according to NASA's Jet Propulsion Laboratory.

Officials said people should have the normal backup plans in place for power outages, such as having flashlights, batteries, and radios at hand.

The most powerful geomagnetic storm in recorded history, known as the Carrington Event after British astronomer Richard Carrington, occurred in September 1859.

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News Network
May 7,2024

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Udupi: Udupi became the second city on the Karnataka coast after Mangaluru to launch water rationing, a senior official said on Tuesday.

Commissioner of the Udupi City Municipal Corporation Rayappa said that the rationing system will come into force from Wednesday and will continue till the water in the reservoir reaches comfortable levels.

The dam built across the Swarna river at a place called Baje, which is the only source of water for Udupi city, recorded 3.25 meters of water as against the top level of 6.30 meters.

The decision of water rationing will be reviewed periodically until the reservoir regains its fullest levels, the official said.

The Mangaluru City Corporation resorted to water rationing on Saturday following declining water levels in the reservoir built across the Nethravati river at Thumbe. 

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