Anil Ambani's comeback:

Reliance Infrastructure Limited announced that Invent Assets Securitisation and Reconstruction Private Limited, a lender to the Company, has novated certain charged securities to recover its dues. As a result, Invent ARC's entire fund based outstanding amount has been reduced to Zero. Additionally, Reliance Infra has cleared its funded outstanding dues to Life Insurance Corporation of India, Edelweiss Asset Reconstruction Company Limited, ICICI Bank, Union Bank, and other lenders. The Company’s external debt liability is down to INR 475 crore. Consequently, the net worth of the Company will stand at Rs. 9,041 crore. Reliance Power announced that the entire obligations of the Company as a Guarantor on behalf of Vidarbha Industries Power Limited (VIPL) stand fully settled resulting in release and discharge of Corporate Guarantee, Undertakings and all obligations and claims thereunder in relation to the outstanding debt of VIPL amounting to INR 3872.04 Crore.

Reliance Power has settled all disputes with CFM Asset Reconstruction Private Limited (CFM). 100% shares of VIPL have been pledged in favour of CFM against the release and discharge of Corporate Guarantee given by Reliance Power. With this move, Anil Ambani has cleared a combined debt of Rs. 8,000 crores and made both Reliance Power and Reliance Infrastructure - Debt Free.

Similar to Amitabh Bachchan, Anil Ambani's second innings has taken the market by storm, expect some big announcements from him in the coming days.

Amitabh Bachchan's comeback:

Amitabh Bachchan, one of the superstars of Indian Movie Industry with demigod status, had suffered financial collapse in 1990s when his company Amitabh Bachchan Corporation Limited (ABCL) had faced debt issues. Amitabh recounts how he was out of money and out of work and walked to prodcer, director Yash Chopra's house, which was near Amitabh's residence, and requested Chopra for giving him some work, and Yash Chopra offered Amitabh a role in his upcoming movie Mohabbatein, which was a hit, following which Amitabh then took a bold decision to do a Television show - Kaun Banega Crorepati - the show became such a hit that streets used to go empty in many towns of India as people rushed to thier homes to watch the show - 25 years later - Amitabh still continues to host the show and has become an even bigger superstar actor in his second innings, for whom movie scripts are written even today!