Arnab Unravels How Banks Bent Backwards To Let Anil Ambani Carry Biggest Financial Scam
Documents accessed by the Republic indicate that companies linked to industrialist Anil Ambani received substantial funding from three major Chinese state-owned banks, with a total outstanding exposure of ₹13,558 crore.
According to the documents reviewed, the largest tranche of lending came from China Development Bank, which extended loans amounting to approximately ₹9,134 crore to Reliance ADA Group (RAAG)-linked entities.
Additionally, the Export-Import Bank of China sanctioned loans worth approximately ₹3,048 crore, while the Industrial and Commercial Bank of China extended funding of nearly ₹1,374 crore.
Combined, the exposure from the three Chinese lenders totals ₹13,558 crore. Loans from all three banks were contingent upon a Personal Guarantee.
The funding was reportedly routed to companies associated with the Reliance ADA Group, which has faced mounting financial stress over the past several years. Several group entities have undergone insolvency proceedings, debt restructuring, or asset monetisation exercises amid liquidity constraints.
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