(MENAFN- NewsBytes) Anil Ambani , once the world's sixth-richest man , told a court in London on Friday that he sold his jewelry to meet legal costs and that his expenses are being borne by his family, reports said.
The ex-billionaire made these submissions before a high court in London, in connection to loan-repayment to three Chinese banks.
He was told in May to return over $700 million.
In this article Backstory: Ambani took loan from three Chinese banks for RCom In May, court ordered Ambani to repay money; he didn't Ambani appeared virtually, was grilled about his assets and liabilities Credit card swipes at Dolce & Gabbana came under scanner I don't lead a lavish lifestyle, Ambani claimed in court Mother and son gave loans to Ambani Ambani accepted he was living rent-free in brother's property Context Backstory: Ambani took loan from three Chinese banks for RCom
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