Top News

The year 2020 was a difficult period for everyone across the globe as the Covid-19 pandemic had essentially shut down the world crippling economies and bringing world governments to its knees. But apart from the pandemic the year presented a different threat to Anil Ambani-- the younger brother of Asias richest man Mukesh Ambani-- as the Indian industrialist stood at the verge of bankruptcy due to failing businesses and mounting debts. When Anil Ambani declared bankruptcy Chinese banks sued Anil Ambani for failing to repay a Rs 5000 crore loan in London court. Ambani appeared in the court in an online trial and declared he was bankrupt stating that he did not even have enough money to hire a lawyer and his wife and son are bearing his daily expenses. Fast-forward five years and today Anil Ambani is making a triumphant comeback in the business world with many of his companies now debt-free and earning significant profits. But Ambani did not achieve this revival alone but with the help of two men who essentially brought his Reliance Group business empire back from the dead. Let us find out who these unsung heroes are: How Anil Ambanis sons powered Reliance Group revival? The remarkable comeback story of Anil Ambani was powered by none other than his two sons Jai Anmol Ambani and his younger brother Jai Anshul Ambani. The two brothers who joined their fathers business when everything was going downhill have revived the Reliance Group with their sharp business acumen. Jai Anmol and Jai Anshul have taken up leadership roles within the indebted Reliance Group and have helped the Anil Ambani-led company to secure new deals and cut down the mammoth debt faced by many of the groups companies. Anils elder son Jai Anmol Ambani attempted a revival of Reliance Capital but despite his best efforts could not save the debt-ridden firm from going bust and being taken over Hinduja Groups IndusInd International Holdings Ltd (IIHL). On the other hand Jai Anshul Ambani the younger son of Anil Ambani is assisting the Reliance Group in two new ventures Reliance Nippon Life Insurance and Reliance Capital Asset Management. While Anshul is still learning the ropes and steadily becoming more active in the business his older sibling Jai Anmol Ambani who stepped in the business at the age of 18 is emerging as a veteran businessman shows all signs of being ready to step in his fathers shoes and manage and revive the debt-ridden business empire. Reliance Group signing mega deals under Jai Anmol and Jai Anshul Ambani During recent months Reliance Group now under the leadership of Anil Ambanis sons has taken giant strides towards making the conglomerate profitable again. The once-crumbling business empire of Anil Ambani has cut down debts of many of its companies and reduced losses thus attracting new orders as well as potential investors. Recently Reliance Group acquired a Rs 2000 crore contract for a setting up a solar project in Bhutan while Reliance Defence-- a subsidiary of Anil Ambani-led Reliance Infrastructure Limited-- has signed a deal with German arms maker Rheinmetall AG to manufacture ammunition.