"Anil Ambani's companies were in
debt to the tune of ₹1,720 billion." "Not only from Indian banks, but he had also taken
loans from Chinese banks." "He started blaming
all his business failures on Mukesh Ambani." "Their mother asked Mukesh
to stop Anil from going to jail." "This was a big shock for Anil Ambani." "But it wasn't the only one." "Was someone trying to hurt Anil Ambani?" Hello, friends. In 2008 Anil Ambani was the
6th richest person in the world. His wealth was $42 billion, more than his brother
Mukesh Ambani. But fast forward 16
years, today, in 2024, Anil Ambani is no
where to be seen. Debtors are chasing after him. There are several court
cases pending against him, and SEBI has now banned him from the Indian market
for the next 5 years. How did this happen? The story of this
downfall is based on a fight between two brothers
which is not widely known. This fight had an
impact on the political and financial
system of our country. Politicians from
different parties were also involved
in this fight. Friends, in today's
video, let's find out the story of Mukesh
and Anil Ambani. Friends, before we begin
this video, let me tell you that the things that I'll
talk about in this video, might be very shocking to you. But I haven't made up any of them. They aren't my opinions. Each line, each source, are from published news articles or books. The sources are provided in the description
in case you want to refer to those. The story begins with their
father, Dhirubhai Ambani. At one point, Dhirubhai Ambani used to be a gas
station attendant. But by the 1980s, he was one of the biggest
businessmen in India. In February 1986,
he suffered a stroke and his right hand
became paralysed. It was only after this
that he started handing over his businesses to
his sons, Mukesh and Anil. Mukesh Ambani was
a bit of an introvert. So, he used to
handle operations. His role was to set up mega
projects within time and budget. On the other hand, Anil
Ambani was an extrovert. That's why he became
the public face of Reliance. His role included public
relations, corporate affairs, lobbying and
marketing with the government. In 1991, Dhirubhai made Mukesh Ambani the Vice
Chairman of Reliance while Anil Ambani remained the Joint Managing
Director of the company. This was a clear indication
that Dhirubhai preferred Mukesh. And it was seen
as an indication that Mukesh would take over
Reliance after Dhirubhai. With time, Mukesh
started taking over more and more of
Reliance's activities. He started placing
his friends in Reliance. Like Anand Jain and Manoj Modi. You might be wondering why
Dhirubhai preferred Mukesh, and not Anil. For many reasons. One of them was
the family dynamics. Anil Ambani's decision
to marry Tina Munim. Tina Munim was a glamorous
Bollywood celebrity of her time. She had been a Miss India. And her first film Des
Pardes was a big hit. In the 1980s, she was seen
as a modern Indian woman. Her clothes were considered
revealing at that time. She was in a live-in
relationship with famous actor Rajesh
Khanna at one point. Anil Ambani met her at a party. Both of them liked each other and Anil decided to marry her. But there was a
problem, a social hurdle. The Ambani family was a
conservative Gujarati family. And they weren't
willing to accept Tina as their daughter-in-law. Dhirubhai Ambani
opposed this marriage. In fact, he tried his
best to break them up. Gas Wars: Crony
Capitalism and the Ambanis Look at page 41 of this book. Dhirubhai Ambani used his
clout within the government and orchestrated
an ED raid on Tina. This 2015 article in the
Caravan Magazine confirms that there was an ED raid on Tina. But despite his
father's objections, Anil was adamant
about marrying Tina. Anil also found out that the ED team had
misbehaved with Tina. After this, Anil
threatened Dhirubhai that if he doesn't accept Tina
as his daughter-in-law, Anil would leave the family. This was a complete filmy drama. After this, the family
and friends intervened and convinced Dhirubhai
to let this marriage be. They got married
in February 1991, and Tina Munim
became Tina Ambani. On the other hand, Mukesh's
story was the complete opposite. Mukesh married the girl
his mother chose for him. His mother, Kokilaben, saw Neeta Dalal in a
Bharat Natyam dance recital and this led to the marriage
of Mukesh and Neeta. Neeta Dalal became Neeta Ambani and was considered the real
daughter-in-law of the family. While Tina remained an outsider. Dhirubhai and Kokilaben depended on Neeta for important
family decisions. On the other hand, Tina barely
played any role in the family. On top of that, in 1994, something interesting happened. Sandeep Tandon, who
had been an IRS officer, who had raided Tina's house, joined Reliance as a consultant. Obviously, he joined Reliance
with Mukesh's approval and Anil was
very upset about it. It's said that
Mukesh believed that only he could take Reliance
into the 21st century. The world started
noticing this when Reliance entered
the telecom sector. Reliance Infocomm was founded and neither Anil nor
any of his supporters were given major
roles in this company. Reliance Infocomm was
owned by another company Reliance Communication
Infrastructure Limited. 50.55% share of
the holding company was held by Mukesh
and Nita Ambani and 45% share was held by RIL. RIL was Reliance's main company. The Chairman and
Managing Director of RIL was Mukesh
Ambani himself. And the top positions
were held by people like Manoj Modi, Anand
Jain, and Bharat Goenka who were considered
as Mukesh's loyalists. Anil Ambani saw this as a clear sign that Mukesh
was sidelining him and that Mukesh did not
consider him as an equal partner. Along with this, Anil also felt
that his role in the company, managing politicians,
bureaucrats, and media was not being appreciated. Anil Ambani used
to deal with global fund managers to
ensure Reliance's growth. But he was upset that Mukesh Ambani was giving
more importance to his loyalists. Even though Dhirubhai
Ambani was alive, by 1999, there was a falling-out
between the two brothers. The Reliance Group was
divided into two factions. The Pro Mukesh Group
and the Pro Anil Group. Dhirubhai knew that his
sons weren't on friendly terms. But instead of
dividing the business, he took a different route. In March 2002, he announced a mega-merger
of the Reliance companies. He merged Reliance
Petroleum with Reliance India Ltd. It is believed that he did
so because he thought that it would make it impossible
to divide the Reliance Group and the brothers would
have to work together. But this does not happen. 6th July 2002, Dhirubhai
Ambani passed away. After this, Mukesh Ambani
took over Reliance's control, and Anil Ambani became
the Second-in-Command. But a few months later, tensions between the two
brothers started to grow further. Anil Ambani felt that
Mukesh was using RIL to finance his telecom venture and to get personal benefits
for himself and his friends. Apart from this,
Neeta Ambani's role in Reliance Infocomm
role was on the rise. She was looking after Reliance Infocomm's advertising
and branding. Anil Ambani wasn't
on board with all of this. He started expressing
his opposition. Three months
later, in July 2004, Reliance Board restricted
Anil Ambani's financial powers and gave Mukesh Ambani
full financial powers. Along with this, they
passed another proposal that the Vice
Chairman should work under the Chairman's
supervision. Anil began to realise that Mukesh was trying
to sideline him entirely. After Dhirubhai's
death, Anil wanted his mother, Kokilaben, to
become Reliance's Chairperson. But Mukesh refused
to agree with this and said that it
would send a wrong message to
international investors. If we look at things from
Mukesh Ambani's perspective, take a look at
these old articles. He believed that Anil wasn't
serious about doing business. And the reason was Anil's closeness with
Samajwadi Party's Mulayam Singh
Yadav and Amar Singh. Mukesh was very
uncomfortable with this. Dhirubhai Ambani had
close ties with politicians too, like Indira Gandhi, but he was on good
terms with all politicians. He did not favour any
particular politician, But Anil Ambani was getting
too close to Samajwadi Party. In June 2004, Anil
Ambani filed a Rajya Sabha nomination as an
independent candidate from UP. And he won with Amar Singh
and Mulayam Singh Yadav's help. This was because
Congress was newly elected to form the
central government. And the Samajwadi Party was one of Congress's main
rivals back then. Unlike today,
when they are allies, back then the two parties
opposed each other. Mukesh Ambani
felt that it wasn't good for the Reliance's
business interests for Anil Ambani to be getting so close to an opposition party. Since Congress wouldn't like it. Apart from this,
when Anil Ambani had filled his nomination
for Rajya Sabha, he had to declare his
and his wife's wealth. This was another reason
for Mukesh's displeasure; everyone finding out
how much money he had. There was a third reason too. Mukesh was unhappy with
Anil's power generation project. Anil Ambani had announced
his plans to start a gas-based electricity power plant
in Dadri, Uttar Pradesh. He said that the gas for
the plant would be from the gas discoveries in the
Krishna-Godavari Basin. Mukesh believed that Anil had
forced this project on Reliance only because Anil
wanted to please Amar Singh and
Mulayam Singh Yadav. Late 2004, by this point, the relationship between the two brothers had reached
a breaking point. In a front-page report,
the Times of India reported on a "Brothers'
Feud" between the brothers of a 'major
business group.' Back then, most publications had the courage to
publish daring news. Not like today when
everyone's trying to please a certain
group of people. After this, on 18th
November 2004, two interesting things happened. Mukesh Ambani attended a
CNBC TV18 Business Seminar and the CEO of Microsoft
Steve Ballmer was also there. Steve was Mukesh's
classmate and friend. They studied together in
Stanford Business School. In the seminar, he said
something very shocking. He said in his batch at Stanford Business School,
there were only 2 people who dropped out
in the first year. Steve and Mukesh Ambani. The audience was
shocked to hear this. Because for years,
the world thought that Mukesh Ambani had
completed his MBA from Stanford. That was the stance in
Reliance's official documents too. So, Mukesh was quite
upset at this speech and left the seminar early. But before leaving, he
made another announcement. He said that there
were ownership issues within the Reliance Group but it was in a private domain. No one was sure why
he said so publicly. Before that, the
differences between the two brothers was
not public knowledge. A few days later, Mukesh
changed his statement and said that there were no
ownership issues in the Reliance Group and that while
Dhirubhai was alive, he had solved all the issues. But by then, it was too late. The media was
already talking about it. This fight between
the two brothers gradually turned
into an open war and it played out
in front of the media. Anil Ambani had the
upper hand in this. One after another news about
Mukesh was being published. His dealings with
the politicians. About how he was using
Reliance for his benefit. His issues with
corporate governance. Everything was
published publicly. News reports also mentioned that Mukesh was mistreating
his younger brother, Anil. Over the next 7 months, Mukesh Ambani's
public image deteriorated. By December 2004, the
situation was so terrible that our country's Finance Minister P. Chidambaram had to intervene. He said that the entire
country was suffering because of the feud between
the two brothers. The FM asked
them to stop fighting. There was government
pressure too. Prime Minister Dr Manmohan Singh had to put pressure
on them as well. Although the PMO denied it later. Apart from this, their mother Kokilaben wanted to
have this sorted out. And the Chairman of ICICI
Bank and their family friend K.V. Kamath intervened as well. Under the pressure
from all of them, Mukesh Ambani agreed to a truce. In June 2005, apparently, both brothers resolved
their differences and an agreement was
signed by the brothers. As per this agreement, Mukesh got flagship
companies like RIL and Indian Petrochemicals
Corporation Ltd. This company was
sold to Reliance by the Atal Bihari Vajpayee
government in 2002. On the other hand,
Anil Ambani got Reliance Infocomm, Reliance
Energy, and Reliance Capital. Both brothers signed a
10-year-long non-compete agreement. If one of them was
working in any sector, the other brother
will not try to compete with it for
at least 10 years. Under this agreement,
broadly speaking, Mukesh Ambani got 60%-70%
assets of the Reliance Group. And Anil Ambani
got 30%-40% assets. After this, by 2007, Anil Ambani's net
worth had tripled. $45 billion. While Mukesh Ambani's
net worth was $49 billion. Their net worths
were quite similar. Everyone assumed
that the fight between both brothers had
permanently ended. But it wasn't so. Mukesh Ambani was upset about
Anil getting Reliance Infocomm. It was his dream project. He kept waiting for
the right opportunity. He got this opportunity
in January 2008 when Anil Ambani brought
Reliance Power's IPO. The Dadri power project
he had announced, was the reason for the
establishment of Reliance Power. Anil Ambani had raised
₹120 billion in this IPO. The day this IPO was launched, it was India's biggest company. And the very next day, the company's shares were
being dumped in the market. In just one day, the share
price fell by almost 20%. Anil claimed that Mukesh's
companies were doing this. Anil complained to SEBI that within 4 minutes of
the share allotment, 7 Mauritius-based companies
started selling the shares. And these companies
were connected to Mukesh. Because if RPower's
share value increased, Anil Ambani would have become
richer than Mukesh Ambani. But this did not happen
because of the crash. This was a big
shock for Anil Ambani. But it wasn't the only one. After this, he got another
shock during the MTN deal. His Reliance Communications, was about to merge with South
African telecom company, MTN. With this deal, Anil would have been richer than Mukesh Ambani. But Mukesh opposed it. Mukesh Ambani cited the
agreement between the two brothers to stop this deal. If either of the
brothers wanted to sell their stakes
in their companies, then the other brother will
have the right to first refusal. That means if any of them wanted to sell their shares
in their company, they would have to offer the
shares to their brother first. And only if they
don't choose to buy it, can the shares be
offered to someone else. Anil Ambani tried to
bypass this agreement and decided to directly purchase shares in the South
African company, MTN. He tried to buy
51% shares in it. But till then, MTN
was wary about the infighting between
these two brothers, and backed out of the
deal to protect themselves. But these were the
straightforward fights. But apart from this,
Anil Ambani said that Mukesh was trying to harm him by putting political
pressure on him. Anil's company had
participated in the privatisation bid of Delhi
and Mumbai airports and was the highest bidder. And finally, the
government decided that there was a significant conflict
of interest in the company, so the contract was awarded
to the second-highest bidder. It is said that Mukesh
Ambani was behind this. Similar things happened with coal-based methane
extraction contracts and Anil was nearly sure that Mukesh was the reason
behind all his business failures. But do you know what
is more surprising? The biggest fight between these
two brothers was yet to come. The Gas Wars. As per the settlement between
Mukesh and Anil in 2005, the gas exploration and
extraction business went to Mukesh. And the power generation
business went to Anil. I referred to the book "Gas
Wars" throughout this video. This book was subject
to a lot of legal trouble. But there was no case against it. Since it is still in
publication, it proves that no one could prove that
its contents are incorrect. If you want to buy this book,
the link is in the description below. It'll help you understand
this situation in more detail. So if Anil Ambani wanted
to start his gas power plant, he would obviously
need gas for that. But Mukesh had
rights over the gas exploration and
extraction business. The power generation
business was new and Anil wanted to install
a power plant in Dadri, UP. Gas was needed for this. When the agreement was made, Mukesh promised
to supply gas to Anil at $2.34 per million
British thermal units of gas. And every day, for 17 years, 28 million standard cubic metres a day gas was to be supplied. But after a few days both brothers
started fighting over whether Mukesh's
company would provide the gas to Anil's
company at the set price. Mukesh's company applied to the Ministry of Petroleum
and Natural Gas for their approval of
the $2.34/unit price. The Ministry
refused stating that the government decides
the price of natural resources. At that time, Murli Deora
was the Petroleum Minister and one of Dhirubhai
Ambani's close associates. Anil claimed that this decision was aimed at benefiting Mukesh. The government
wanted to decide the price and Anil claimed that the
decided price would be higher so that finally Anil would neet to pay more for gas to Mukesh. This was the
beginning of a legal battle between the two brothers and the government
jumped in too. In September 2007, an
empowered group of ministers, headed by Pranab Mukherjee, approved the gas price at $4.21. It was almost double the price of what Anil was
supposed to pay. So Anil Ambani went to court. In 2009, the Bombay
High Court gave the verdict, in Anil Ambani's favour. The Bombay High
Court stated that Mukesh Ambani should honour
the family agreement and sell the gas at
the price of $2.34. After this, on 4th July,
Mukesh Ambani's company filed a petition in
the Supreme Court against Bombay HC's judgement. The Supreme Court was supposed to hear this petition
on 20th July, but the government filed
a petition on 18th July and stated that natural
gas is a national property and neither of them had
the right to decide its prices. And so this contract
should be made invalid. Anil Ambani accused
the UPA government of acting in Mukesh
Ambani's favour. Especially the
Petroleum Ministry. Led by a politician who had
close ties to Dhirubhai Ambani. Anil claimed that the government
was pushing companies like ONGC into losses
merely to benefit Mukesh. Anil's companies
started publishing front-page ads in newspapers. Saying that the government
and the Petroleum Ministry were working
to benefit Mukesh even at the cost of hurting
the government treasury. Paranjoy Guha Thakurta
wrote a book 'Gas Wars: Crony Capitalism
and the Ambani's' that mentions a shocking
incident while this was playing out. On 23rd April 2009, Anil Ambani's helicopter was
undergoing maintenance work. A technician, Bharat
Borge found that the filter neck of the helicopter
was not fitting properly. He opened it to fix it and found small,
peanut-sized stones inside. Along with that, there was soil and pebbles inside
the fuel tank too. Someone had
deliberately put stones and tiny pebbles
in the helicopter. According to experts,
had this helicopter flown, it would have crashed for sure. This was truly shocking. Was someone after
Anil Ambani's life? Several theories began
circulating regarding this. Anil Ambani's
supporters said that this was done by
corporate rivals. A few days later, Bharat Borge's de@d body was found
at the railway track, with a su!cide note. The note mentioned that
after he discovered the pebbles, some officials from
Mukesh's company met him and started questioning him. They told him that
they would return, and he was scared of that. Although the police were not
satisfied with his su!cide note and for the helicopter sabotage
and for Borge's mu₹der, they arrested his coworkers. But here too, Anil and Mukesh's supporters began
accusing the other. Anyway, coming
back to this Gas War, after the hearing,
the court said that gas is a government property and only the government
can decide its price, not the Ambanis. When this judgement
was pronounced, Anil Ambani was present
in the Supreme Court and this was the third
major shock for him. This judgement meant
that Mukesh Ambani would become rich by several
billions of rupees, and Anil Ambani would suffer losses to the tune
of billions of rupees. After this judgement, not only did Anil Ambani's
Reliance Power, but also the shares
of his other companies crashed in the market. After a few days, the
two brothers met again. On 23rd May 2010, Mukesh and Anil's companies
issued a press statement and said that their
family agreement was a non-compete agreement, but the brothers
decided to scrape it. Scraping it would
mean that both brothers could venture into any business even if it meant competing with the other person's businesses. Mukesh won the court case and Anil did not need
him gas for anymore. Even at the high cost, because of the end
of the non-compete, he was getting gas
in his power plant. But later, it seemed that
Mukesh got rid of the non-compete but still Anil did
not benefit much. Anil Ambani was already facing problems for his
power project in Dadri. Land was needed for the project and in 2004, UP's Mulayam
Singh Yadav government used an emergency provision and handed over this
land to Anil Ambani. While doing so, they ignored
the farmers who owned this land. The former Prime
Minister V.P. Singh, and Congress's Raj
Babbar opposed this and filed a petition in
the Allahabad High Court. In December 2009, Allahabad High Court
passed its judgement in the favour of the farmers. The court said that
if the government wanted to handover the farmers' land to a company like they did, it should have gotten a No Objection Certificate
from every farmer. And if the farmers
want their land back, then they needed to return
the compensation they received from Anil Ambani's
company to reclaim their land. Anil Ambani went to the
Supreme Court against this order. But in 2014, in his statement
to the court, he said that he wasn't interested
in the project anymore. He said that it had
become difficult to ensure gas
supply for this project. So, he agreed to return
the land to the farmers. A loss of billions of rupees and another big
shock to Anil Ambani. But Anil still had a
booming business. The telecom business. The only problem was that when Anil inherited
the telecom business, he had no idea about how competitive
this business could be. On top of that, this business
needed a lot of investment to be successful. By 2010, the Indian
telecom industry was shifting from 2G to 3G. Internet services had begun and for new telecom equipment
and spectrum purchase heavy investments were needed. To the tune of
billions of rupees. Anil started investing in 3G. Because of this, his company
Reliance Communications went into debt of ₹300 billion. To reduce his debt burden, Anil tried to strike
a ₹500 billion deal with GTL Infratech
for tower operations. He wanted a merger. But this plan failed too. Next year, the alleged 2G
spectrum scam took place, and 122 telecom licences
across the country were cancelled. One of these licences
belonged to Anil Ambani. CBI interrogated
Anil Ambani about his role in promoting
Swan Telecom. "Anil Ambani's role in the share
of Swan was being probed." "The CBI said that Anil Ambani sold Swan shares to
Delphi at eroded prices." But even after this Anil
Ambani kept investing in 3G. On the other hand, Mukesh Ambani was preparing to launch
his 4G network Jio. Friends, this is
interesting because Mukesh Ambani
had made the biggest mistake in Reliance's
mobile business. But the brunt of the mistake
was borne by Anil Ambani. The thing is, when Mukesh Ambani started this
business in 2002, there were two
types of SIM cards. A GSM SIM card
and a CDMA SIM card. Mukesh chose CDMA for Reliance. But the other companies of
the time, like Airtel and Hutch chose GSM. The problem with the
CDMA SIM card was that it could only run 2G
and 3G technology. It didn't work with 4G. So, if Anil Ambani's Reliance Communications
wanted to offer 4G, he need to change the
SIM cards immediately. Within a year, he needed to shift all the
SIM cards from CDMA to GSM. Doing so was challenging,
and would cost billions of rupees. By 2012, Vodafone had surpassed
Reliance Communications. And by 2016, Anil Ambani's
Reliance Communications had fallen to the fourth place. The debts were increasing, there was no end of
difficulties and amidst all this, Mukesh Ambani
announced Reliance Jio. "This morning, I start with
the newest and the youngest member of the Reliance family, Jio." Reliance Jio offered
free 4G services to snatched away all customers. "Jio's data, voice, video, will be available for everyone, absolutely free." Anil Ambani's telecom
business was in a dire situation. As the last option, Anil Ambani tried to merge
his company with Aircel in 2017. But that deal failed too. Because of the
failure of this deal, Anil's tower deal with
Canadian company Brookfield fell through as well. After that, Reliance
Communications announced the closure of its
2G and 3G business. By 2017, Reliance
Communications's debt had risen to ₹430 billion. To reduce some of the debt, they tried to sell their
tower and fibre business in a deal worth ₹300
billion to Tillman and TPG. But that failed too. With no other option left, Anil Ambani went to his
brother Mukesh Ambani. He tried selling Reliance Communications'
wireless spectrum, tower, fibre, media,
convergence, nodes, and everything
else, to Reliance Jio. But Mukesh Ambani refused
to be the guarantor for the debt. And because of this, this
deal fell through as well. By 2018, Anil Ambani had started going to
the court regularly. Because the debts
had grown so much. The creditors were after him. The company Ericsson
accused Anil of default and in 2018 Ericsson
went to the Supreme Court. The Supreme Court
gave Anil Ambani a deadline of 30th
September 2018, to return Ericsson's
₹5.5 billion. But Anil Ambani could
not return this amount and Ericsson filed a contempt petition with the Supreme Court. The Court said that if
Anil Erickson doesn't return this money to
Ericsson by March 2019, then he might have to go to
jail for to contempt of court. According to Bloomberg's report, to prevent Anil
Ambani's imprisonment, his mother asked
Mukesh Ambani to help. Anil and Mukesh
sat for negotiations and allegedly, Anil had
to somewhat beg Mukesh to help him. Eventually, Mukesh helped him. By paying the pending dues to Ericsson, Mukesh Ambani saved his
brother Anil from having to go to jail. On 25th September 2019, the
National Company Law Tribunal declared Reliance
Communications insolvent and started selling off the company's assets
to pay off its debts. What was the reason behind
Anil Ambani's downfall? Reliance Communications was not the only problem
for Anil Ambani. His problems began in 2014 when his companies started
racking up more and more debts. By 2018, the total debt owed by his
companies totalled ₹1,720 billion. According to India Today, Anil
ventured into such businesses that required huge investments. And his decisions were based on his ambition
rather than strategy. Getting funding for
projects from public sector banks using
political connections, was Anil's strategy
most of the time. But things changed after
the 2008 global financial crisis, and the public sector banks weren't willing to fund the
power and infrastructure sectors. Initially, there was
a run with bad luck, but later, his wrong
decisions were to be blamed. Gradually, his projects
started to lose their momentum. In 2014, Reliance
Entertainment had to sell its multiplex chain Big
Cinemas to pay off its debts. In August 2018, Anil sold his Reliance Infrastructure's Mumbai City Power Distribution business to Gautam Adani
for ₹188 billion. Because of this,
Reliance Infra was able to pay off
₹230 billion of debt. But to date, Reliance Powers'
major projects are stuck. In September 2018, Anil
told his shareholders that 24,000 megawatt power
generation plants are stuck because they cannot
secure the gas supply. Because of this,
according to him, investments of ₹1,200
billion were stuck. Reliance Power had secured the projects for making
3 power plants, but only one of them
has been built by now. And regarding that one project, his statement in
the court was that they need permission
to do further mining, otherwise the company
will go into losses. And this project will
also need to be stopped. During the asset allocation
between the two brothers, Anil received
cash-hungry businesses, that needed innovation
and investment constantly. But Mukesh got core businesses. Like oil and gas. Those businesses did not
need as much innovation. And fresh investments
were required less frequently. Anil did not get
any business that could give him
continuous cash flow so that he could use that money to invest in his
other businesses. He remained
successful for as long as there was a flow of funding
from banks and investors, And as soon as
the funding stopped, his debts kept increasing. And do you know what's
interesting, friends? Anil Ambani had taken
out loans from not only from Indian banks but
also from Chinese banks. Three Chinese banks, controlled
by the Chinese government, filed a lawsuit in
London's High Court that Anil took a
loan of $925 million for Reliance
Communications in 2012. He was a personal
guarantor for this loan but the loan
wasn't being repaid. Anil Ambani appeared in
front of the London court and stated that the value of
his investments has eroded. And considering his
liabilities back then, he stated that his net
worth was actually zero. He further said he had nothing left to sell to
pay off the debts. But the judge
refused to believe him. And that he must
have undeclared assets. The court refused
to believe that the Ambani family left
him to his own devices. Anil's statement
responding to this was that he received a one-time-only
help from Mukesh Ambani, and that he won't
get any more help. In February 2022, SEBI banned Anil Ambani from
being associated as a director in any listed entity on charges of
diversion of funds. In March 2022, Anil Ambani
resigned from the Boards of Reliance Infrastructure
and Reliance Power. On 23rd August 2023, SEBI
banned Anil Ambani from the Indian security market for 5 years on
charges of diversion of funds. Today, Anil is no
longer seen in the public. According to a Bloomberg report, his acquaintances
say that he has now become
religious and spiritual. He has given up
on material success. He is still trying to look for ways to
turn things around and change his fate. But now, considering
his situation, it seems nearly impossible. This report states that Anil
Ambani has been advised to declare himself bankrupt
to get rid of his debts. But he still feels that
if he gives up like this, he will lose any remaining
chance of a future comeback. Friends, what did you
learn from this video? Let me know in the
comments below. In my opinion,
one thing is certain. No matter how much
money you have, even if you are the
richest person in the world, money cannot
replace your family. Money cannot help control
your ego and your pride. I talked about this
in this video as well. Think about it, had
these two brothers lived and worked together
instead of fighting each other, their lives could have
been vastly different. It is rightly said that if a
person is poor at heart, then all the wealth in the
world doesn't seem enough. Friends, I hope you liked
this long and detailed video. If you want to watch
more such videos, let me know in the
comments below and feel free to
suggest other topics. I made a similar video
on the Tata family. Their story is quite different from that of the Ambani family. You can click here
to watch that video. Thank you very much!