Fact check: No, Mukesh Ambani, family not moving to London; truth behind Stoke Park acquisition

The Ambanis dominating the headlines is nothing new. But recent reports claimed that the Asia's richest man was planning to partly move to London, where he bought a lavish estate, along with his family. The reports about 300-acre Stoke Park estate being the Ambanis' second home away from Mumbai made the headlines, and to that extent RIL issued a statement setting the record straight.

The claim

Many reports claimed citing sources that Mukesh Ambani bought another home in London, where he along with his family will be spending a lot of time. Stoke Park, the heritage property in London's Buckinghamshire was rumoured to be the family's new home in UK.

According to reports, the Ambanis bought the massive property as they would be spending at least 6 months a year there. The reports went on to claim that Mukesh Ambani purchased the estate for Rs 592 crore earlier this year and planned to move into their new home in April next year. The reports also claimed that the Ambanis even built a temple on the property and a priest was taken from India.

The reports of Ambani's purchase went viral, highlighting the facts about Stoke Park, which was featured in two James Bond films.

Fact check

International Business Times reviewed the claims about the Ambani family partly moving to London. Citing the influx of reports, Reliance Industries Limited (RIL) issued a statement clarifying the unverified reports.

"Reliance Industries Limited will like to clarify that the Chairman and his family have no plans whatsoever to relocate or reside in London or anywhere else in the world," read the official statement.

Further clarifying about the purchase of Stoke Park estate, the company said that the acquisition is aimed at enhancing it as a premier golfing and sporting resort.

RIL group company, RIIHL, which acquired Stoke Park estate recently, would like to clarify that its acquisition of the heritage property is aimed at enhancing this as a premier golfing and sporting resort, while fully complying with the planning guidelines and local regulations," the statement added.

"This acquisition will add to the fast-growing consumer business of the group. Simultaneously, it will also expand the footprint of India's famed hospitality industry globally," RIL said.

Based on the official statement by RIL, it is clear that the Ambani family is not moving to London and the acquisition of Stoke Park is part of expanding its hospitality industry globally.