2 / 10

Anil Ambani, Chairman, Reliance Group

It certainly was one of the worst years for this Ambani brother with getting dragged to court for $680 million unpaid loans. The Industrial & Commercial Bank of China Ltd., China Development Bank and the Export-Import Bank of China agreed to loan $925.2 million to Anil Ambani’s firm Reliance Communications Ltd in 2012 on condition that he provide a personal guarantee. In February 2017, the wireless carrier defaulted on its payment obligations. Anil Ambani was caught up in a similar case earlier this year, when the Supreme Court threatened to imprison him after Reliance Communications failed to pay Rs 5.5 billion to Ericsson AB’s Indian unit. His brother, Mukesh Ambani, stepped in to make the payment. But the younger Ambani sibling continues to remain in trouble even as he resigned as director of the bankrupt Reliance Communications, thus ceasing to be the chairman of the mobile phone company he had led since 2006.

Business Newsmakers of the year, 2019

Here’s a look at the movers and shakers from the Indian business arena who stayed in the news for many reasons— either for phenomenally growing their business, or taking a bad fall due to mismanagement, for being social-media-influencers, stepping down from their esteemed position or being hugely successful as maverick business persons.