Law Insider India

Legal News, Current Trends and Legal Insight | Supreme Court of India and High Courts

Swiss Court to share bank account details of Anil Ambani’s family with India

2 min read

Kriti Agrawal

Switzerland Federal Court consented to release information with Indian authorities on the bank accounts of Tina Ambani, Jai Anmol and Jai Anshul.

Swiss newspaper Gotham City reported that India’s Finance Ministry of Foreign Tax and Research Division had filed a case in the Swiss Federal Court seeking information on Ambani’s bank accounts.

The apex court approved a request for mutual cooperation from the Indian finance ministry’s Foreign Tax and Research Division on April 29. 

Ambani’s family was not directly named in the Court order due to privacy policy but, Gotham City confirmed via Court documents that Anil Dhirubhai Ambani, Tina Anil Ambani, Jai Anmol Anil Ambani, and Jai Anshul Anil Ambani are the people referred to as A, B, C, and D. 

Another worldwide investigative outlet, Global Investigative Review (GIR), detailed the Swiss Court’s order to banks to reveal the information of Anil Ambani and his family’s bank accounts.

Anil Ambani’s lies have now been revealed.

Anil Ambani testified in a London Court a few months ago that he has no money and relies on the support of his brother Mukesh Ambani in a case brought by a Chinese banking consortium. 

Anil Ambani was ordered by a London Court to pay 770 million dollars to Chinese banks for failing to repay 14 billion dollars in debts.

From 2008 to 2014, the loan was used to install Chinese equipment in the telecom and power sectors. Chinese companies have also filed a case with the Delhi High Court to recover Rs.995 crore in debts owed to companies of Anil Ambani.

The Swiss Court’s decision will cause problem for Ambani, who conceals his Swiss accounts while deposing as relatively close.

SBI also filed proceedings against Anil Ambani’s firms after the London Court’s ruling. SBI has told the Delhi High Court that three bank accounts belonging to Anil Ambani’s Reliance Group, Reliance Communication, Reliance Telecom, and Reliance Infratel have been designated as fraudulent. 

Anil Ambani’s three companies owe banks a total of nearly Rs.49,000 crore, with Reliance Infratel owing Rs.12,000 crore in debt and Reliance Telecom owning Rs 24,000 crore. 

Anil Ambani has reportedly reduced his abroad travels as a result of the London Court’s Judgment, afraid that Chinese banks will use Interpol to issue red notices in foreign airports.