Debt-laden business tycoon Anil Ambani told a UK court on Friday that he lives a simple life, drives just one car and has sold his jewellery to pay his legal fees. He said he had received ₹9.9 crore for all his jewellery between January and June 2020 and now does not own anything meaningful, as per a Times of India report.
On May 22, the UK High Court had ordered Ambani to pay a debt of ₹5,281 crore and ₹7 crore in legal cost to three Chinese banks by June 12, 2020, but the amount was not paid.
He had outstanding loans of ₹500 crore to his mother and ₹310 crore to his son, Anmol. The court heard his bank balance dropped overnight from ₹40 lakh to ₹20 lakh on January 1, 2020. Ambani told the court that his expenses are minimal and are being borne by his wife and family.