The matter pertains to an alleged personal guarantee for a corporate loan availed by Reliance Communications Limited in 2012, 8 years ago, from 3 Chinese state-owned banks, and not a personal loan of Ambani.

Legal Sources privy to hearing said refuting an incorrect suggestion on behalf of the Chinese banks during the proceedings, Ambani denied that he pursued a ‘lavish lifestyle' and instead "respectfully clarified that in reality he is a disciplined and deeply religious person with simple habits".

Ambani is a passionate athlete and a long distance runner having run over 50 marathons / half-marathons.

Legal sources said Ambani stated that he is a life long teetotaller and vegetarian, does not drink or smoke or gamble and lives with his mother - Kokilaben and family in Mumbai in a tenanted apartment building called Seawind, arrangement done by his late father Dhirubhai Ambani.

Ambani also refuted incorrect statements as speculated as to the ownership of an alleged fleet of cars, corporate jets, a helicopter and a yacht and pointed out that he uses one solitary car as provided by the company. Ambani clarified that none of these assets are owned by him.

Ambani also disclosed that to meet the cost of the expensive long drawn litigation being pursued by the Chinese state owned banks in the UK, he had been compelled to also sell all the jewellery at Rs 9.9 crore recently to only meet his legal expenses.