Richest man of India is a defaulter: Mukesh Ambani group owes MMRDA Rs 4318 crores

Mukesh Ambani, ranked 11th richest globally and the wealthiest in India, owes the Mumbai Metropolitan Region Development Authority (MMRDA) ₹4,381 crores. This information, revealed through RTI activist Anil Galgali, highlights that Ambani is one of five defaulters with total arrears amounting to ₹5,818 crores.

RTI activist Anil Galgali queried MMRDA about notices issued to defaulters and details of outstanding dues. The MMRDA administration identified five defaulters: M/s Reliance, Naman Hotel, Ambani Foundation, INS, and Raghulila Builders. Legal proceedings are ongoing, with notices issued to these defaulters on September 12, 2017.

Ambani Tops Defaulter List with ₹4,381 Crores

Mukesh Ambani’s company, M/s Reliance, owes the highest amount, with lease arrears of ₹4,381.32 crores for the Jio Convention Center (Plot No. C 64). Additionally, One BKC (Plot No. C 66), originally owned by M/s Reliance, has outstanding dues of ₹1,123.50 crores under M/s Raghulila Builders. Despite MMRDA’s legal setbacks from the High Court to the Supreme Court, they anticipate recovering ₹449.27 crores from additional built-up areas.

Other defaulters include INS (Plot No. C 63) with ₹181.35 crores, Ambani Foundation (Plot No. SF 7 & 9B) with ₹8.15 crores, and Naman Hotel Limited (Plot No. C 58 and C 59) with ₹48.92 crores in arrears.

MMRDA imposes penalties for not completing construction within four years of leasing land. While other leaseholders have paid penalties, MMRDA has shown leniency towards defaulters, refraining from strict actions like cancelling occupancy certificates. Notably, MMRDA granted partial occupancy certificates to Naman Hotel despite pending dues. MMRDA continues to assert that these cases are under judicial consideration.