Delhi HC stays IBC proceedings against Anil Ambani
The Delhi High Court stayed Insolvency & Bankruptcy Code (IBC) proceedings against Anil Ambani in matter pertains to a personal guarantee given by him against a loan taken by Reliance Communications Ltd (RCom) and Reliance Infratel Ltd (RITL) from State Bank of India (SBI).
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The Delhi High Court stayed Insolvency & Bankruptcy Code (IBC) proceedings against Anil Ambani in matter pertains to a personal guarantee given by him against a loan taken by Reliance Communications Ltd (RCom) and Reliance Infratel Ltd (RITL) from State Bank of India (SBI).
The Bench of Vipin Sanghi and Justice Rajnish Bhatnagar also issued a notice on Ambani's plea challenging the validity of the section pertaining to personal guarantee and bankruptcy and asked whether there is an enabling provision in the IBC for such an order.
The next date of hearing of the case has been scheduled for October 6.
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