Business Standard

Monday, December 23, 2024 | 09:59 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

NCLT reserves order on SBI plea to recover Rs 1,200 cr from Anil Ambani

In early 2019, Reliance Communications, once the flagship company of the Anil Ambani-led Reliance group, had filed for bankruptcy

Anil Ambani
Premium

Anil Ambani had given personal guarantee to the loans given to Reliance Communications and Reliance Infratel.

Press Trust of India Mumbai
The National Company Law Tribunal (NCLT) on Tuesday reserved its order on the State Bank of India plea against Anil Ambani to recover over Rs 1,200 crore under the personal guarantee clause of the bankruptcy law.

The public sector lender had approached the tribunal under Section 97(3) of the Insolvency and Bankruptcy Code (IBC), seeking its intervention to direct the insolvency board to nominate a resolution professional (RP) to assess and submit a report on the assets owned by Ambani.

Anil Ambani had given personal guarantee to the loans given to Reliance Communications and Reliance Infratel.

After hearing both the

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