Delhi HC reduction for Anil Ambani


New Delhi, August 27

The Delhi High Court on Thursday placed on maintain the insolvency decision course of (IRP) proceedings towards Reliance Communications (RCom) chairman Anil Ambani in relation to restoration of Rs 1,200-crore loans given by SBI to his two companies.

Ambani had given private ensures for the Rs 565 crore and Rs 635 crore SBI loans to RCom and Reliance Infratel Ltd, respectively, in August 2016.

A Bench of Justices Vipin Sanghi and Rajnish Bhatnagar additionally restrained Ambani from “transferring, alienating, encumbering or disposing of his assets or legal rights and interests therein till the next date of hearing”.

It issued discover to the Centre, the Insolvency and Bankruptcy Board of India and SBI looking for their stand on the plea by October 6, the subsequent date of listening to. The courtroom additionally mentioned the proceedings would proceed in relation to the company debtor (the businesses), and whereas coping with these proceedings, the legal responsibility of the petitioner-personal guarantor (Ambani) might also be examined by the IRP. — PTI

Next listening to on Oct 6

  • Ambani had given private ensures for the Rs565 crore and Rs635 crore SBI loans to RCom and Reliance Infratel, respectively, in August 2016
  • The HC has issued discover to the Centre, the Insolvency and Bankruptcy Board of India and SBI, looking for their stand on the plea by October 6, the subsequent date of listening to



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