UK court dismisses Chinese bank plea for conditional order in $680 mn claim against Ambani
UK High Court has dismissed an application filed by Chinese banks seeking summary judgement in their contested USD 680 million claims against Reliance Communications Chairman Anil Ambani.
The hearing in the matter took place on November 7 and the order was issued on Monday, a spokesperson for Anil Ambani said in a statement.
UK High Court has dismissed "summary judgement application of Chinese banks against Anil Ambani" in which the "Chinese banks had claimed USD 680 million from Mr. Ambani against Chinese banks' corporate loans to Reliance Communications Limited (RCom)", it said.
"Mr Ambani's position that the claim made by Chinese banks in relation to his alleged guarantee for corporate loans availed by Reliance Communications Limited (RCom) could not be granted by way of a summary judgement has been duly upheld by the UK High Court," the spokesperson said.
At this stage of the proceedings, the evidence of the personnel of RCom who were dealing with the personnel of the Chinese ...