UK High Court has dismissed a $680 million claim application filed by Chinese banks against Reliance Communications Chairman Anil Ambani, a spokesperson of Ambani said on Monday.
The hearing in the matter took place on November 7 and the order was issued on Monday, the spokesperson 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 $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.