Anil D. Ambani has submitted a fresh affidavit to the Supreme Court suggesting the formation of a lenders’ committee to ascertain the actual dues owed by Reliance Communications (RCOM) and its group entities. The proposal includes a detailed plan for resolving the liabilities in a structured manner. The affidavit emphasizes the need to determine the precise outstanding dues to each lender and establish a time-bound repayment schedule for any remaining amounts.
The affidavit reveals that total repayments by the group entities surpass Rs 3,44,000 crore, comprising principal and interest amounts. It also highlights significant payments made to the government exchequer in the form of taxes, spectrum charges, and statutory dues. Additionally, personal and family capital infusions into stressed companies have exceeded Rs 9,276 crore, with all such investments being wiped out.
Anil Ambani has taken steps towards debt reduction through key asset monetizations totaling Rs 23,476 crore, with the proceeds utilized for lender repayments. The document discloses that Ambani has formally requested the constitution of the proposed lenders’ committee by writing to relevant authorities, seeking accurate and transparent determination of dues. The affidavit also references ongoing investigations by the CBI and the ED, noting the provisional attachment of assets worth over Rs 15,000 crore.
The Supreme Court has emphasized the necessity for a coordinated and time-bound investigation into alleged bank frauds linked to RCOM and its group entities. The Court stressed the importance of transparent and independent probes by agencies like the ED and the CBI. While the Court cannot direct arrests, it has directed financial institutions to fully cooperate with the investigation. The case involves allegations of financial irregularities and loan fraud, with earlier proceedings highlighting delays in the investigation process.
