Lord of wealth smiles as Anil Ambani gets much-needed SC breather

Reliance Infra wins a four-year battle for control of money from an arbitration award in the DMRC case that the company says it needs to repay the lenders

Lord of wealth smiles as Anil Ambani gets much-needed SC breather

This Ganesh Chaturthi (Sept. 10) couldn’t have come at a more auspicious time for Anil Ambani: the Supreme Court on Thursday (Sept. 9) upheld an arbitral tribunal award directing the Delhi Metro Rail Corporation to pay ₹ 2,782 crore ($3,78,660.52) with interest to a consortium headed by Anil Ambani-led RInfra that operated the Delhi Airport Metro Express Line till 2012.

This appears godsend for the younger brother of billionaire Mukesh Ambani who in March 2019 had reportedly stepped in to bail Anil out by helping him repay Reliance Communications’ (RCom’s) dues to Ericsson. The last-minute rescue had spared the younger Ambani a three-month jail term for contempt of court. The debt-ridden company had already paid ₹118 crore of the ₹ 550-crore dues. In addition, the company had paid around ₹3 crore in penalties to Ericsson.