Anil Ambani Lands in Srinagar, Drives to Gulmarg

Anil Dhirubhai Ambani- File photo

Srinagar- Anil Dhirubhai Ambani, a well known business tycoon arrived in Srinagar on Friday and later drove to the ski resort of Gulmarg.

Reports said that the Chairman of Reliance Group, arrived at Srinagar Airport at around 03:30 PM along with his family.

Unconfirmed reports said that Ambani will be meeting the top officials of the administration at Gulmarg.

Pertinently Ambani arrived in Srinagar a week after three State-run lenders, State Bank of India (SBI), Union Bank of India (UBI) and Indian Overseas Bank (IOB), classified accounts of the Anil Ambani owned Reliance Communication Ltd (RCom) and its two units Reliance Telecom Ltd (RTel) and Reliance Infratel Ltd (RInfra) as fraudulent.

According to a report from the Economic Times (ET), with SBI, UBI and IOB declaring RCom, RTel and RInfra accounts as fraudulent, the bankruptcy resolution process of RCom may hit another hurdle.

Media reports said 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 debt of Rs 12,000 crore and Reliance Telecom owns Rs 24,000 crore.

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