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Monday, December 23, 2024 | 11:41 AM ISTEN Hindi

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Supreme Court to begin hearing SBI's plea against Anil Ambani today

A banker said Ambani has objected to the SBI invoking personal guarantees under the Corporate Debtors Regulations, 2019

SUPREME COURT
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The fate of dues worth Rs 45,000 crore, including to the Chinese banks, will be decided by the NCLT where the matter is still pending

Dev Chatterjee Mumbai
Indian lenders are keenly watching the outcome of a petition filed by State Bank of India (SBI) in the Supreme Court, which invoked the personal guarantees of Anil Ambani. The SC will hear the petition from Thursday.

A banker said Ambani has objected to the SBI invoking personal guarantees under the Corporate Debtors Regulations, 2019. Till November, the IBC only covered Indian companies and not promoters. The new rules are applicable against the personal guarantors given to loans above Rs 1,000 crore or more by promoters. “As Ambani’s will be the first case where personal guarantees have been invoked and

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