New Delhi: Businessman Anil Ambani’s name has been featured in the International Consortium of Investigative Journalists (ICIJ)’s “Pandora Papers”, Indian Express, which has investigated the records in “Pandora Papers”, reported today. The document has disclosed that Reliance ADA Group Chairman and his “representatives” have around 18 offshore firms in British Virgin Islands (BVI), Jersey, and Cyprus, the report says.
Pandora Papers on Anil Ambani
- There are a total of eight such companies in Jersey, seven in BVI, and three in Cyprus. All these firms had transactions value of USD 1300.5 million, Indian Express report says.
- In Jeresey, Anil Ambani has three companies. These are Radium Unlimited, Batiste Unlimited, and Hui Investment Unlimited. Reliance Innoventures Pvt Ltd, which is the holding company of ADA Group, owns Radium Unlimited and Batiste Unlimited. Meanwhile, promoter company of Reliance Capital AAA Enterprises Ltd owns Hui Investment Unlimited, the Indian Express report says.
- “Representative of Anil Ambani”, who is identified as Anup Dalal, owned Dulwich Ltd and Summerhill Ltd in Jersey. Dalal also had one firm in BVI, Reindeer Holdings Ltd.
- Laurence Mutual; Richard Equity Ltd and German Equity Limited in Jersey are also linked to Anil Ambani.
In February, 2020, during a dispute with multiple Chinese Banks, Anil Ambani had informed a court in London that he had a zero net worth. The London court had observed that “there are questions about the extent to which Mr Ambani has any offshore interests, because if so they have not been declared”, as per the Indian Express report.
In May 2020, the London court had ordered Anil Ambani to pay USD 716 million to the Chinese state-controlled banks. However, Ambani the denied having any beneficial interest or asset around the world, the Indian Express report says.
Get real time update about this post directly on your device, subscribe now.