Business Standard

Saturday, December 21, 2024 | 07:18 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

HC seeks Centre, SBI stand on Anil Ambani plea to include Chinese banks

The high court also said that the moratorium on recoveries from sale of Ambani's assets, as provided under section 96 of the Insolvency and Bankruptcy Code (IBC), would remain in operation for now

Photo: Bloomberg
Premium

This direction came on the application moved by the State Bank of India (SBI) seeking a declaration that the moratorium shall continue to be in effect | Photo: Bloomberg

Press Trust of India
The Delhi High Court on Monday sought the Centre and SBI's reply to former RCom chairman Anil Ambani's plea to include the Chinese banks, which have got a decree of $717 million against him from a court in United Kingdom, in the proceedings here related to recovery of Rs 1200 crore loan granted to two of his companies.

The high court also said that the moratorium on recoveries from sale of Ambani's assets, as provided under section 96 of the Insolvency and Bankruptcy Code (IBC), would remain in operation for now.

This direction came on the application moved by the State Bank

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in