RCom loans: Anil Ambani denies giving any personal guarantee to three Chinese banks

Mumbai: Businessman Anil Ambani on Tuesday claimed he had not given any personal guarantee for a borrowing made by Reliance Communications (RCom) from three Chinese banks against the backdrop of a UK court directing him to pay USD 717 million to the three lenders.

He, however, seemed to indicate that he did give a personal guarantee to India’s largest lender SBI, which has moved the the National Company Law Tribunal (NCLT) to recover Rs 1,200 crore.

In both the cases — SBI and Chinese banks — the borrowings have been done by a group company and are not personal, he said.

Speaking at the annual general meeting of group company Reliance Infrastructure (RInfra), Ambani said he had only signed “a power of attorney limited to executing a non-binding letter of comfort to the Chinese banks” when the now-bankrupt RCom borrowed money in 2012.