The U.K. High Court has dismissed summary judgement application of a $680 million claim raised by Chinese banks against industrialist Anil Ambani.
‘Mr. Anil Ambani is pleased with the dismissal of the summary judgment application filed by the Chinese banks before the U.K. High Court. Mr. Ambani's position that the claim made by Chinese Banks in relation to his alleged guarantee for corporate loans availed by Reliance Communications could not be granted by way of a summary judgement has been duly upheld by the U.K. High Court,” said a spokesperson for Anil Ambani.
However, the court has asked his lawyers to present evidence during the course of the trial to establish that the claims raised by the Chinese banks are without any merit.
“Mr. Ambani has contested the proceedings and put up a strong legal defence, and will continue to contest the proceedings and seek leave to defend, without any conditions as to making of deposits or payments being imposed. Mr. Ambani is confident that he will have an opportunity to place the necessary evidence before the U.K. High Court, in the course of the trial to establish that Chinese banks claim are without any merit,” said the spokesperson.
“At this stage of the proceedings, the evidence of the personnel of RCom who were dealing with the personnel of the Chinese Banks could not be placed, which led to certain doubts being expressed in the judgement on account of the evidence being incomplete and thus appearing implausible,” said the spokesperson adding that Mr. Ambani is confident that his position would be fully vindicated once all the facts and the entire evidence is before the court.
