LONDON: Anil Ambani, chairman of the Reliance Group, told a UK court that he does not need "vast" needs and he lives a "very disciplined" lifestyle and that his extravagant tastes are speculative suggestions. In a dispute involving a loan agreement with three Chinese banks, Ambani was providing facts. Mukesh Ambani's estranged brother, India's wealthiest man, said his expenses are borne by his wife and family and even took a loan from his son. “My needs are not vast and my lifestyle is very disciplined," the 61-year-old former billionaire, who was once the sixth-richest person in the world, told the London court.
He dismissed them as "speculative" media reports when asked about his fleet of luxury cars and other references to his luxurious lifestyle. "I never owned a Rolls-Royce. I'm currently using one car," he said. "Contrary to unrealistic impressions of his flamboyance and extravagant lifestyle, Mr Anil Ambani has always been a simple man of simple tastes," said a spokesperson for Anil Ambani. "He is dedicated to his family and company, an avid and profoundly spiritual marathon runner. He is also a lifelong vegetarian, teetotaller and non-smoker who would rather watch a movie with his children at home than go out in the town. Stories that say otherwise are entirely misleading," said the spokesman.
Meanwhile, three Chinese banks-the Industrial and Commercial Bank of China, the Export-Import Bank of China and the China Development Bank-are all set to launch new enforcement action against Anil Ambani's worldwide assets, according to a TOI report on Monday, to recover debts amounting to $716 million or almost Rs 5,300 crore. It should be noted that on 22 May this year, Anil Ambani was ordered by a UK court to pay Rs 5,276 crore to the three banks, including interest of Rs 7,04 crore in legal costs. By June 29, Ambani's debt to these banks had increased to $717.6 million, including accumulated interest. A UK judge had ruled at a hearing in the case earlier in the year that he did not acknowledge Ambani's defence that his net worth was virtually zero or that when "push came to shove" his family would not step in to assist him.