Anil Ambani to move NCLAT against appointment of RP in SBI matter

Tribunal rejects submissions by Ambani counsel, says it has no option but to nominate RP within seven days of creditor filing an application

Anil Ambani is likely to move National Company Law Appellate Tribunal (NCLAT) against the appointment of Jitender Kothari as resolution professional (RP) in the dispute with State Bank of India. He is taking legal advice on the same.

The National Company Law Tribunal (NCLT) had appointed Kothari earlier on Friday, to officiate in the matter between SBI and Ambani. The case pertains to the personal guarantee given by Ambani against a loan taken by Reliance Communications (RCom) and Reliance Infratel (RITL).  

According to the NCLT order, there is no doubt that the respondent (Anil Ambani) furnished his personal guarantee for the credit