In February 2012, Reliance Com borrowed nearly Rs. 5446 crore from the Chinese Banks. Anil Ambani, chairman of Reliance Group, is the guarantor of this loan. Chinese banks are now seeking a London court to pay their debts as Reliance Comm is in bankruptcy. Anil Ambani Court Case which is pending in London Court gave judgment to pay 700 Million Dollars.
On May 22, the court heard the petition through video conferencing due to a London court lockdown, giving Anil Ambani only three weeks to pay off the loan. However, the court has ruled that legal action could be taken on either side.