Big win for Indian Government. Swiss Court directs to reveal secret bank accounts of debt-ridden industrialist Anil Ambani, wife and sons

A boost for the Modi government in tracking the parking of ill-gotten proceeds in Swiss banks

A boost for the Modi government in tracking the parking of ill-gotten proceeds in Swiss banks
A boost for the Modi government in tracking the parking of ill-gotten proceeds in Swiss banks

More trouble heading the debt-ridden industrialist Anil Ambani’s way. A Swiss Federal Court agreed to share information with Indian authorities about the bank accounts of him, his wife Tina Ambani and their two children Jai Anmol, and Jai Anshul, according to Swiss media. Swiss newspaper Gotham City on May 12 reported that India’s Finance Ministry’s Foreign Tax and Research Division has filed a petition in the Swiss Federal Court for getting details of the bank accounts operated by Anil Ambani.

According to Swiss newspaper Gotham City, the Court’s order came on April 29 and they have confirmed from the Registrar’s office that the Order directed to banks named Anil, Tina, Jai Anmol and Jai Anshul Ambanis, though the Order available in the public domain shows only A, B, C, D due to privacy issues[1]. Gotham City’s reporter Francois Pilet reported that the Court Registrar’s office allowed him to see the actual names. “As court reporters, we are allowed to see the names of the parties in every decision on the Swiss Supreme Court,” he explained to news portal News Laundry[2].

It is learned that after the London Court’s order, Anil Ambani has limited his foreign travels fearing Chinese banks move on issuing red alerts in foreign airports through Interpol.

Another international investigative portal Global Investigative Review (GIR) on Friday also reported in detail the Swiss Court’s direction to banks to disclose the details of bank accounts of Anil Ambani and his family[3].

Now Anil Ambani’s lies are exposed. A few months back, Anil Ambani deposed in a London Court that he has no money and living on brother Mukesh Ambani’s help in a case filed by the Chinese banking consortium. The London court had asked younger Ambani to pay 770 million dollars to Chinese banks for nonpayment of loans of 14 billion dollars. The loan was taken for the installation of Chinese equipment in the telecom and power sector from 2008 to 2014. Chinese firms also approached Delhi High Court for recovering Rs.995 crore dues from Anil Ambani led firms[4]. The Swiss Court’s order will be a trouble for Ambani who hides his Swiss accounts while deposing claiming as almost pauper.

After the order of London Court, SBI also filed cases against Anil Ambani’s companies. SBI has informed the Delhi High Court that it has classified three bank accounts of Anil Ambani’s Reliance Group – Reliance Communication, Reliance Telecom and Reliance Infratel – as fraud. The total amount that the three firms of Anil Ambani owe to the banks is over Rs.49,000 crore, out of which Reliance Infratel has a debt of Rs.12,000 crore and Reliance Telecom owns Rs 24,000 crore[5]. It is learned that after the London Court’s order, Anil Ambani has limited his foreign travels fearing Chinese banks move on issuing red alerts in foreign airports through Interpol.

References:

[1] Indian tax authorities take an interest in Anil Ambani’s Swiss accountsMay 12, 2021, Gotham City

[2] Swiss bank ordered to share details of Anil Ambani’s accounts with IndiaMay 14, 2021, Newslaundry

[3] Swiss court greenlights Indian access to Anil Ambani bank accountsMay 14, 2021, GIR

[4] After fixing debt-ridden Anil Ambani in London Courts by Chinese banks, Chinese firm approach Delhi HC for Rs.995 crores dues. HC orders stay on sale of Reliance Infra shares in BSESJan 26, 2021, PGurus.com

[5] SBI declares accounts of Anil Ambani’s three Reliance Group firms fraudJan 7, 2021, Business Today

6 COMMENTS

  1. Yes. Untill Modi government rules the nation, it will take all actions to recover all the amounts due to to every paise.

  2. Waste of time. It will reveal nothing. Already the money must have shifted or transferred to many other offshore heavens
    Dumb show & waste of legal minds time & effort. Nothing is going to come out of Swiss bank disclosures like it has happened in the past.
    Just put this man behind bars & give him a third degree torture, he would voluntarily submit all details in one hour.

  3. Wiil Indian Govt act on this favorable Swiss Judgment and take cases against Anil Ambani and recover money from hidden Swiss bank accounts?

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