Anil Ambani is expected to pay nearly Rs 3,300 crore in arbitral award his firm got from the Delhi Metro Rail Corporation. This comes at a time when the firm is facing cash flow issues and undergoing debt restructuring.
An Indian billionaire, who once had more wealth and net worth than India’s richest man Mukesh Ambani, is now bankrupt and had to sell all his jewellery just to make ends meet.
Anil Ambani’s company Reliance Communications saw a major loss for its shareholders after the stock prices dropped below Rs 2 for the first time in the history of the firm.
Billion-dollar companies are currently involved in a three-way bidding war to buy Anil Ambani’s RInfra road projects in a massive deal worth thousands of crores.