独家
印度国家银行要求最高法院撤离阿尼尔·安巴尼的欠款
HC保留了NCLT命令指定IRP;贷款人援引了个人担保条款。
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爱立信将通过Jabil在印度增加生产，为5G部署提供服务，为2000人创造就业机会
爱立信印度公司的一份声明称，爱立信印度公司还将在浦那建立一个技术中心，加上产能的扩大，将为印度浦那创造多达2000人的就业机会。
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孟买:印度国家银行已向最高法院提起诉讼，要求追回欠款安尼尔•安巴尼三名知情人士称，在德里高等法院(Delhi High Court)阻止了他的这一举动后，他动用了个人担保。
一名了解此事的高管表示:“由于这是德里高等法院(Delhi High Court)部门法官的命令，该行现在已向最高法院寻求救济。”
印度国家银行和阿尼尔·安巴尼的代表都没有回应记者的询问。SBI寻求休假的请求是通过律师桑杰·卡普尔提出的，而安巴尼的律师是律师EC Agrawala。
8月27日，由法官维平·桑吉(Vipin Sanghi)领导的高等法院分庭维持了孟买破产法庭的一项命令。
“深远的影响”
法庭已任命临时决议专业人员Jitender Kothari评估安巴尼的资产和负债，并响应SBI提出的追讨价值120亿卢比的请愿书。该银行表示，安巴尼个人担保了该银行的贷款信实电信（信实电信)，目前正在进行破产的决议．在SBI、Ambani、法律和司法部、公司事务部、破产和破产部门提交的特别休假请愿书(SLP)中印度破产委员会和IRP Kothari作为调查对象。SLP是周四提交的，周五注册的。
苏瑞律师事务所(Suri & Co.)合伙人Suruchi Suri表示:“这起案件将受到关注，不仅因为阿尼尔·安巴尼牵涉其中，还因为它涉及对《破产与破产法典》(IBC)中个人担保的宪法有效性的挑战。这些诉讼的结果以及最高法院对破产程序中个人担保的看法将是很有趣的，这将消除这个问题上的任何模糊。”
今年3月，SBI向破产法庭提起了IBC下的个人担保条款。法律允许贷款人要求法庭指定一名IRP来评估担保人的资产和负债。
安巴尼曾在6月份表示，这些贷款不是个人借款。印度国家银行发起的诉讼“源于信实通信和印度电信为一笔贷款提供的担保鼓吹他的依赖为了偿还中国和某些其他印度银行的债务，”安巴尼6月23日在信实集团公司的年度股东大会上说。
A&P合伙人律师事务所合伙人普里扬卡·辛哈表示:“德里高等法院的命令仔细考虑了对个人担保人的诉讼，其中对公司债务人的诉讼不受影响。”“在此期间，法院还采取了预防措施，防止个人担保人的资产被转让……这一命令将产生深远影响。”
RCom去年申请破产。去年8月，贷款机构提交了约4900亿卢比的债权。今年3月，SBI董事会批准了RCom的一项决议计划，该计划设想贷款机构回收约2300亿卢比，不到其未偿贷款的一半。RCom欠SBI近500亿卢比。
一名了解此事的高管表示:“由于这是德里高等法院(Delhi High Court)部门法官的命令，该行现在已向最高法院寻求救济。”
印度国家银行和阿尼尔·安巴尼的代表都没有回应记者的询问。SBI寻求休假的请求是通过律师桑杰·卡普尔提出的，而安巴尼的律师是律师EC Agrawala。
“深远的影响”
法庭已任命临时决议专业人员Jitender Kothari评估安巴尼的资产和负债，并响应SBI提出的追讨价值120亿卢比的请愿书。该银行表示，安巴尼个人担保了该银行的贷款信实电信（信实电信)，目前正在进行破产的决议．在SBI、Ambani、法律和司法部、公司事务部、破产和破产部门提交的特别休假请愿书(SLP)中印度破产委员会和IRP Kothari作为调查对象。SLP是周四提交的，周五注册的。
苏瑞律师事务所(Suri & Co.)合伙人Suruchi Suri表示:“这起案件将受到关注，不仅因为阿尼尔·安巴尼牵涉其中，还因为它涉及对《破产与破产法典》(IBC)中个人担保的宪法有效性的挑战。这些诉讼的结果以及最高法院对破产程序中个人担保的看法将是很有趣的，这将消除这个问题上的任何模糊。”
安巴尼曾在6月份表示，这些贷款不是个人借款。印度国家银行发起的诉讼“源于信实通信和印度电信为一笔贷款提供的担保鼓吹他的依赖为了偿还中国和某些其他印度银行的债务，”安巴尼6月23日在信实集团公司的年度股东大会上说。
A&P合伙人律师事务所合伙人普里扬卡·辛哈表示:“德里高等法院的命令仔细考虑了对个人担保人的诉讼，其中对公司债务人的诉讼不受影响。”“在此期间，法院还采取了预防措施，防止个人担保人的资产被转让……这一命令将产生深远影响。”
RCom去年申请破产。去年8月，贷款机构提交了约4900亿卢比的债权。今年3月，SBI董事会批准了RCom的一项决议计划，该计划设想贷款机构回收约2300亿卢比，不到其未偿贷款的一半。RCom欠SBI近500亿卢比。
Mumbai: State Bank of India has moved the apex court to recover dues from Anil Ambani<\/a> by invoking his personal guarantee after he got a stay from Delhi High Court against such a move, three people aware of the development said.
\u201cSince it was an order by the division bench of the Delhi High Court, the bank has now approached the Supreme Court for relief,\u201d said an executive aware of the matter.
SBI didn\u2019t respond to queries and neither did a representative of Anil Ambani. The SBI plea seeking vacation of the stay has been filed through advocate Sanjay Kapur while Ambani is being represented by advocate EC Agrawala.
\u201cSince it was an order by the division bench of the Delhi High Court, the bank has now approached the Supreme Court for relief,\u201d said an executive aware of the matter.
SBI didn\u2019t respond to queries and neither did a representative of Anil Ambani. The SBI plea seeking vacation of the stay has been filed through advocate Sanjay Kapur while Ambani is being represented by advocate EC Agrawala.
<\/div><\/div>A division bench of the high court led by justice Vipin Sanghi had on August 27 stayed a Mumbai bankruptcy tribunal order.
![\"SBI](\"https:\/\/st.etb2bimg.com\/Themes\/Release\/images\/responsive\/ettelecom-default.jpg\")
<\/figure>Read also<\/h3>
<\/figure>Read also<\/h3><\/a><\/div>NCLT decides to appoint IRP in a case filed by SBI against Anil Ambani<\/h4><\/a><\/div><\/a><\/div>Indian court halts insolvency proceedings against Reliance's Anil Ambani<\/h4><\/a><\/div><\/div>
\u2018Far-reaching implication\u2019
<\/strong>
The tribunal had appointed interim resolution professional (IRP) Jitender Kothari to assess Ambani\u2019s assets and liabilities and take a call on the petition filed by SBI to recover dues worth Rs 1,200 crore. The lender said Ambani had personally guaranteed loans taken by Reliance Communications<\/a> (RCom<\/a>), currently undergoing bankruptcy resolution<\/a>. In the special leave petition (SLP) filed by SBI, Ambani, the Ministry of Law & Justice, the Ministry of Corporate Affairs, the Insolvency and Bankruptcy Board of India<\/a> and IRP Kothari have been made respondents. The SLP was filed on Thursday and registered on Friday.
\u201cThis case will be watched not only because Anil Ambani is involved but also because it involves a challenge to the constitutional validity of the personal guarantee in the Insolvency and Bankruptcy Code (IBC),\u201d said Suruchi Suri, partner at law firm Suri & Co. \u201cIt will be interesting to see the outcome of these proceedings and the Supreme Court's view on the personal guarantor in insolvency proceedings, which will lay to rest any ambiguity on the issue.\u201d
<\/div><\/div>In March, SBI had moved the bankruptcy tribunal invoking the personal guarantee clause under the IBC. The law allows lenders to ask the tribunal to appoint an IRP to assess the assets and liabilities of the guarantor.
Ambani had said in June that the loans were not personal borrowings. The proceedings initiated by SBI \u201carose out of a guarantee given for a loan which was availed of by Reliance Communications and Reliance Infratel<\/a> way back in 2016 to repay the debts of Chinese and certain other Indian banks\u201d, Ambani told the annual general meeting of his Reliance Group companies on June 23.
\u201cThe Delhi High Court Order has carefully taken into consideration whilst staying the proceedings against personal guarantors wherein the proceedings against corporate debtor shall remain unaffected,\u201d said Priyanka Sinha, partner at law firm A&P Partner. \u201cIn the interim, the court has also taken precautions that the assets of the personal guarantor are not alienated\u2026This order will have a farreaching implication.\u201d
RCom had filed for bankruptcy last year. In August last year, lenders submitted claims of around Rs 49,000 crore. In March this year, the SBI board approved a resolution plan for RCom that envisaged lenders recovering around \u20b923,000 crore, or less than half of their outstanding loans. RCom owes nearly \u20b95,000 crore to SBI.
<\/div><\/div>
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Corporate and private disputes in various courts and tribunals including Bombay High Court, National Company Law Tribunal (NCLT), Securities Appellate Tribunal (SAT), Competition Commission of India (CCI) and National Green Tribunal (NGT) and strategies to fight such dispute fascinates me. I am also interested to write on boardroom battles, corporate governance and business strategy. Twitter: @MaulikVyas_ET","details":{"detail":[{"@attributes":{"type":"occupation"}},{"@attributes":{"type":"beat"}}]}},"aulinksxml":{"links":{"link":{"twitter":[],"facebook":[],"googlePlusUrl":[],"contributorUrl":[]}}},"autype":"GENERAL"}]},"similarlytagged":[{"msid":"94822982","stname":"RBI's new norms for ARCs may further delay Aircel & RCom debt resolutions","artsyn":"Asset Reconstruction Company of India (Arcil), Edelweiss ARC and government-promoted National Asset Reconstruction Company, which have NOFs exceeding \u20b91,000 crore, are eligible to submit bids in bankruptcy settings. The central bank has further said that ARCs should not retain any control over the insolvent company after five years, thus indicating that it would have to find a buyer and exit the company in the medium term.","seolocation":"telecomnews\/rbis-new-norms-for-arcs-may-further-delay-aircel-rcom-debt-resolutions","seolocationalt":"RBI's new norms for ARCs may further delay Aircel & RCom debt resolutions","url_seo":"rbis-new-norms-for-arcs-may-further-delay-aircel-rcom-debt-resolutions"},{"msid":"93626971","stname":"Lenders to Anil Ambani's RITL, RIL reach takeover deal","artsyn":"Banks led by the State Bank of India (SBI) have agreed to issue a no objection certificate (NOC) to RIL following which the Mukesh Ambani-promoted company will transfer the agreed amount to an escrow account. The NOC essentially is a no dues certificate for RITL, a procedure followed before the implementation of the resolution plan.","seolocation":"telecomnews\/lenders-to-anil-ambanis-ritl-ril-reach-takeover-deal","seolocationalt":"Lenders to Anil Ambani's RITL, RIL reach takeover deal","url_seo":"lenders-to-anil-ambanis-ritl-ril-reach-takeover-deal"},{"msid":"92562430","stname":"How Mukesh Ambani will split his empire to avoid his father\u2019s folly","artsyn":"Ambani\u2019s first-born, Akash, 30, will succeed him as chairman at India\u2019s No.1 wireless carrier Reliance Jio Infocomm Ltd. The patriarch, who resigned from the Infocomm board, will continue to helm Jio Platforms Ltd., which owns all digital assets including the telco. This is probably a stopgap arrangement until Jio Platforms, whose investors include Meta Platforms Inc. and Alphabet Inc., concludes its much-awaited initial public offering.","seolocation":"telecomnews\/how-mukesh-ambani-will-split-his-empire-to-avoid-his-fathers-folly","seolocationalt":"How Mukesh Ambani will split his empire to avoid his father\u2019s folly","url_seo":"how-mukesh-ambani-will-split-his-empire-to-avoid-his-fathers-folly"},{"msid":"90409326","stname":"Reliance Communications resolution professional seeks buyers for non-core assets","artsyn":"The winning bidder for RCom, UV Asset Reconstruction Company, and lenders have given in-principle consent to the RP to explore the sale of its unencumbered assets, said the people. The RP, Anish Nanavaty backed by Deloitte, will obtain a fresh valuation and hold an auction of the assets, similar to the process followed under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, they said.","seolocation":"telecomnews\/reliance-communications-resolution-professional-seeks-buyers-for-non-core-assets","seolocationalt":"Reliance Communications resolution professional seeks buyers for non-core assets","url_seo":"reliance-communications-resolution-professional-seeks-buyers-for-non-core-assets"},{"msid":"84058254","stname":"Gulshan Khurana likely to replace Vodafone Idea's Mudit Agarwal","artsyn":"In January 2019, Khurana joined the US-based technology company Oracle as strategic sales consulting lead for Asia Pacific and Japan region, and also previously worked with networking major Cisco as a CTO for India and SAARC region.","seolocation":"telecomnews\/gulshan-khurana-likely-to-replace-vodafone-ideas-mudit-agarwal","seolocationalt":"Gulshan Khurana likely to replace Vodafone Idea's Mudit Agarwal","url_seo":"gulshan-khurana-likely-to-replace-vodafone-ideas-mudit-agarwal"},{"msid":"83593833","stname":"Reliance Communications requests DoT to renew telecom licence for 20 years","artsyn":"The now defunct telecom company, previously owned by Anil Ambani, is currently being run by a resolution professional (RP) Deloitte as part of a bankruptcy process under the Insolvency and Bankruptcy Code (IBC).","seolocation":"telecomnews\/reliance-communications-requests-dot-to-renew-telecom-licence-for-20-years","seolocationalt":"Reliance Communications requests DoT to renew telecom licence for 20 years","url_seo":"reliance-communications-requests-dot-to-renew-telecom-licence-for-20-years"},{"msid":"81962067","stname":"Sebi imposes Rs 25 crore penalty on Ambani brothers, others","artsyn":"The regulator alleged that the 6.83 per cent stake, which was acquired by RIL\u2019s promoters together with persons acting in concert (PACs) in 2000, was in excess of the ceiling of 5 per cent prescribed in the takeover code.","seolocation":"telecomnews\/sebi-imposes-rs-25-crore-penalty-on-ambani-brothers-others","seolocationalt":"Sebi imposes Rs 25 crore penalty on Ambani brothers, others","url_seo":"sebi-imposes-rs-25-crore-penalty-on-ambani-brothers-others"},{"msid":"79525499","stname":"Government to challenge Anil Ambani\u2019s stance on personal guarantee law","artsyn":"The government and the Insolvency & Bankruptcy Board of India (IBBI) are set to challenge the position taken by Anil Ambani and former Bhushan Power and Steel chairman Sanjay Singhal, questioning the invocation of their personal guarantee. Singhal, who has now been ousted from his company, and Ambani had questioned the validity of the provisions.","seolocation":"telecomnews\/government-to-challenge-anil-ambanis-stance-on-personal-guarantee-law","seolocationalt":"Government to challenge Anil Ambani\u2019s stance on personal guarantee law","url_seo":"government-to-challenge-anil-ambanis-stance-on-personal-guarantee-law"},{"msid":"79523456","stname":"Ambanis are now twice as rich as the second wealthiest family in Asia","artsyn":"The pandemic had gutted the global economy and Mumbai-where the family lives in a 27-story skyscraper named Antilia-was in the midst of a surge in infections. But in the preceding weeks Ambani, 63, had struck deals with some of the world's leading tech giants to sell stakes in Reliance's digital venture. The next blizzard of fundraising announcements in his retail arm was just days away.","seolocation":"telecomnews\/ambanis-are-now-twice-as-rich-as-the-second-wealthiest-family-in-asia","seolocationalt":"Ambanis are now twice as rich as the second wealthiest family in Asia","url_seo":"ambanis-are-now-twice-as-rich-as-the-second-wealthiest-family-in-asia"},{"msid":"78903584","stname":"MCA challenges Anil Ambani\u2019s stance on personal insolvency law","artsyn":"The Ministry of Corporate Affairs has told the Delhi high court that the personal insolvency law is not unconstitutional and the government had always intended to bring personal guarantors within the ambit of the Insolvency and Bankruptcy Code, people aware of the matter said.","seolocation":"telecomnews\/mca-challenges-anil-ambanis-stance-on-personal-insolvency-law","seolocationalt":"MCA challenges Anil Ambani\u2019s stance on personal insolvency law","url_seo":"mca-challenges-anil-ambanis-stance-on-personal-insolvency-law"},{"msid":"78885258","stname":"Yes Bank starts physical takeover of Anil Ambani\u2019s Reliance Group HQ in Mumbai","artsyn":"In July, the private lender had taken symbolic possession of the sprawling complex situated off the Western Express Highway and overlooking the Mumbai airport. The action was taken under the SARFAESI Act to recover dues of Rs 2,892 crore from Reliance Infrastructure.","seolocation":"telecomnews\/yes-bank-starts-physical-takeover-of-anil-ambanis-reliance-group-hq-in-mumbai","seolocationalt":"Yes Bank starts physical takeover of Anil Ambani\u2019s Reliance Group HQ in Mumbai","url_seo":"yes-bank-starts-physical-takeover-of-anil-ambanis-reliance-group-hq-in-mumbai"},{"msid":"78623005","stname":"Delhi HC issues notices to SBI, others in Anil Ambani personal guarantee case","artsyn":"The Delhi High Court issued a notice to the State Bank of India (SBI) and others to seek their response on whether Chinese lenders should be impleaded in a case filed by Anil Ambani, where he is challenging the bankruptcy court\u2019s ruling to appoint an interim resolution professional (IRP) in the personal guarantee case.","seolocation":"telecomnews\/delhi-hc-issues-notices-to-sbi-others-in-anil-ambani-personal-guarantee-case","seolocationalt":"Delhi HC issues notices to SBI, others in Anil Ambani personal guarantee case","url_seo":"delhi-hc-issues-notices-to-sbi-others-in-anil-ambani-personal-guarantee-case"},{"msid":"78619836","stname":"Court sends notice to Chinese banks on Anil Ambani\u2019s plea","artsyn":"In the London case, the Chinese lenders argued that they provided funding to Ambani\u2019s Reliance Communications Ltd. in 2012 with the condition that he personally guarantee the debt. They have yet to receive any funds despite winning that ruling.","seolocation":"telecomnews\/court-sends-notice-to-chinese-banks-on-anil-ambanis-plea","seolocationalt":"Court sends notice to Chinese banks on Anil Ambani\u2019s plea","url_seo":"court-sends-notice-to-chinese-banks-on-anil-ambanis-plea"},{"msid":"78377059","stname":"Will take all legal routes to recover $717 million, say Chinese Banks to Anil Ambani","artsyn":"Three Chinese banks said they will pursue all legal routes to recover $717 million (\u20b95,306 crore) from Anil Ambani, which the Reliance Group chairman was ordered to cough up by a UK court in May.","seolocation":"telecomnews\/will-take-all-legal-routes-to-recover-717m-chinese-banks","seolocationalt":"Will take all legal routes to recover $717 million, say Chinese Banks to Anil Ambani","url_seo":"will-take-all-legal-routes-to-recover-717m-chinese-banks"},{"msid":"78357255","stname":"Chinese banks to start enforcement action against Anil Ambani\u2019s worldwide assets","artsyn":"The three Chinese banks to whom Anil Ambani owes more than $716 million (Rs 5,276 crore), as well as significant legal costs, have decided to pursue their rights against him on his worldwide assets, following the beleaguered Reliance Group chairman\u2019s English high court cross-examination on Friday.","seolocation":"telecomnews\/chinese-banks-to-start-enforcement-action-against-anil-ambanis-worldwide-assets","seolocationalt":"Chinese banks to start enforcement action against Anil Ambani\u2019s worldwide assets","url_seo":"chinese-banks-to-start-enforcement-action-against-anil-ambanis-worldwide-assets"},{"msid":"78329372","stname":"Anil Ambani discloses worldwide assets to UK court in Chinese banks case","artsyn":"Indebted business tycoon Anil Ambani told a UK court on Friday that he lives a simple life, drives just one car and has sold his jewellery to pay his legal fees.","seolocation":"telecomnews\/anil-ambani-discloses-worldwide-assets-to-uk-court-in-chinese-banks-case","seolocationalt":"Anil Ambani discloses worldwide assets to UK court in Chinese banks case","url_seo":"anil-ambani-discloses-worldwide-assets-to-uk-court-in-chinese-banks-case"},{"msid":"78164418","stname":"SC dismisses SBI plea seeking vacation of stay on Anil Ambani bankruptcy case","artsyn":"The apex court further directed HC to consider the issue on October 6, adding that SBI is at liberty to seek modification of stay order.","seolocation":"telecomnews\/sc-dismisses-sbi-plea-seeking-vacation-of-stay-on-anil-ambani-bankruptcy-case","seolocationalt":"SC dismisses SBI plea seeking vacation of stay on Anil Ambani bankruptcy case","url_seo":"sc-dismisses-sbi-plea-seeking-vacation-of-stay-on-anil-ambani-bankruptcy-case"},{"msid":"77945783","stname":"An insolvency professional explains why enforcing Anil Ambani's personal guarantee is a tough task","artsyn":"The progress of the case between State Bank of India (SBI) vs Anil Ambani (Respondent) is expected to lay the groundwork for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors (IRPPG).","seolocation":"telecomnews\/an-insolvency-professional-explains-why-enforcing-anil-ambanis-personal-guarantee-is-a-tough-task","seolocationalt":"An insolvency professional explains why enforcing Anil Ambani's personal guarantee is a tough task","url_seo":"an-insolvency-professional-explains-why-enforcing-anil-ambanis-personal-guarantee-is-a-tough-task"},{"msid":"77942858","stname":"SBI moves SC to vacate stay on recovering dues from Anil Ambani","artsyn":"HC stayed NCLT order appointing IRP; lender had invoked personal guarantee clause.","seolocation":"telecomnews\/sbi-moves-sc-to-vacate-stay-on-recovering-dues-from-anil-ambani","seolocationalt":"SBI moves SC to vacate stay on recovering dues from Anil Ambani","url_seo":"sbi-moves-sc-to-vacate-stay-on-recovering-dues-from-anil-ambani"},{"msid":"77781474","stname":"Indian court halts insolvency proceedings against Reliance's Anil Ambani","artsyn":"An Indian court on Thursday halted insolvency proceedings against Reliance Group chairman Anil Ambani, the younger brother of India's richest man, and barred him from disposing of any of his assets.","seolocation":"telecomnews\/indian-court-halts-insolvency-proceedings-against-reliances-anil-ambani","seolocationalt":"Indian court halts insolvency proceedings against Reliance's Anil Ambani","url_seo":"indian-court-halts-insolvency-proceedings-against-reliances-anil-ambani"}],"primeid":0,"storytags":{"categoryTag":{"sectionid":"49830939","sectionname":"TelecomNews","seolocation":"telecomnews","seolocationalt":"telecomnews"},"otherTags":[{"keyid":"9171","value":"Anil Ambani","smid":"0","keynameseo":"Anil-Ambani","keytype":"","keycount":"totalcount","weightage":"100"},{"keyid":"34974","value":"telecom news","smid":"0","keynameseo":"telecom-news","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"6354504","value":"reliance jio","smid":"0","keynameseo":"reliance-jio","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"44524","value":"Reliance Infratel","smid":"0","keynameseo":"Reliance-Infratel","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"46907","value":"Reliance communications","smid":"0","keynameseo":"Reliance-communications","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"6368075","value":"RCom","smid":"0","keynameseo":"RCom","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"2003276","value":"Jio","smid":"0","keynameseo":"Jio","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"6354887","value":"Industry","smid":"0","keynameseo":"Industry","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"6488834","value":"bankruptcy resolution","smid":"0","keynameseo":"bankruptcy-resolution","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"3741132","value":"bankruptcy board of india","smid":"0","keynameseo":"bankruptcy-board-of-india","keytype":"","keycount":"totalcount","weightage":"20"}],"filterTags":[]},"formattedTags":{"companyTags":[],"otherTags":[{"name":"bankruptcy board of india"},{"name":"Reliance communications"},{"name":"bankruptcy resolution"},{"name":"Reliance Infratel"},{"name":"telecom news"},{"name":"reliance jio"},{"name":"Anil Ambani"},{"name":"Industry"},{"name":"RCom"},{"name":"Jio"}],"newsCategoryTags":[{"name":"TelecomNews","seolocation":"telecomnews"}],"breadcrumbTags":["Anil Ambani","telecom news","reliance jio","Reliance Infratel","Reliance communications","RCom","Jio","Industry","bankruptcy resolution","bankruptcy board of india"],"filterTags":[]},"breadcrumbTags":["Anil Ambani","telecom news","reliance jio","Reliance Infratel","Reliance communications","RCom","Jio","Industry","bankruptcy resolution","bankruptcy board of india"],"Alttitle":{"minfo":""},"Altdescription":{"minfo":""},"amp_url":"\/\/www.iser-br.com\/amp\/news\/sbi-moves-sc-to-vacate-stay-on-recovering-dues-from-anil-ambani\/77942858"}" data-news-images="[{"msid":"77942856","msname":"Anil AMbani NCLT","msnameseo":"anil-ambani-nclt","mediatype":"1","artdate":"2020-09-05 08:46:00.0","caption":""},{"msid":"77942888","msname":"image (14)","msnameseo":"image-14","mediatype":"1","artdate":"2020-09-05 08:49:00.0","caption":""}]" data-newsletter-by="0" data-newsletter-date="a" data-hasbottomcarousel="" data-alldetailsopen="0" data-multipleanalyticshit="" data-deeplink="https://ettelecom.app.link?$deeplink_path=" data-socialshareformat="default">
赞助的故事
<\/a><\/div>NCLT decides to appoint IRP in a case filed by SBI against Anil Ambani<\/h4><\/a><\/div><\/a><\/div>Indian court halts insolvency proceedings against Reliance's Anil Ambani<\/h4><\/a><\/div><\/div>
\u2018Far-reaching implication\u2019
<\/strong>
The tribunal had appointed interim resolution professional (IRP) Jitender Kothari to assess Ambani\u2019s assets and liabilities and take a call on the petition filed by SBI to recover dues worth Rs 1,200 crore. The lender said Ambani had personally guaranteed loans taken by Reliance Communications<\/a> (RCom<\/a>), currently undergoing bankruptcy resolution<\/a>. In the special leave petition (SLP) filed by SBI, Ambani, the Ministry of Law & Justice, the Ministry of Corporate Affairs, the Insolvency and Bankruptcy Board of India<\/a> and IRP Kothari have been made respondents. The SLP was filed on Thursday and registered on Friday.
\u201cThis case will be watched not only because Anil Ambani is involved but also because it involves a challenge to the constitutional validity of the personal guarantee in the Insolvency and Bankruptcy Code (IBC),\u201d said Suruchi Suri, partner at law firm Suri & Co. \u201cIt will be interesting to see the outcome of these proceedings and the Supreme Court's view on the personal guarantor in insolvency proceedings, which will lay to rest any ambiguity on the issue.\u201d
<\/div><\/div>In March, SBI had moved the bankruptcy tribunal invoking the personal guarantee clause under the IBC. The law allows lenders to ask the tribunal to appoint an IRP to assess the assets and liabilities of the guarantor.
Ambani had said in June that the loans were not personal borrowings. The proceedings initiated by SBI \u201carose out of a guarantee given for a loan which was availed of by Reliance Communications and Reliance Infratel<\/a> way back in 2016 to repay the debts of Chinese and certain other Indian banks\u201d, Ambani told the annual general meeting of his Reliance Group companies on June 23.
\u201cThe Delhi High Court Order has carefully taken into consideration whilst staying the proceedings against personal guarantors wherein the proceedings against corporate debtor shall remain unaffected,\u201d said Priyanka Sinha, partner at law firm A&P Partner. \u201cIn the interim, the court has also taken precautions that the assets of the personal guarantor are not alienated\u2026This order will have a farreaching implication.\u201d
RCom had filed for bankruptcy last year. In August last year, lenders submitted claims of around Rs 49,000 crore. In March this year, the SBI board approved a resolution plan for RCom that envisaged lenders recovering around \u20b923,000 crore, or less than half of their outstanding loans. RCom owes nearly \u20b95,000 crore to SBI.
<\/div><\/div>
Follow and connect with us on Twitter<\/a>, Facebook<\/a>, Linkedin<\/a>, Youtube<\/a><\/div>","NumberOfSentences":{"minfo":"19.0","minfoseo":"19-0"},"AutomatedReadabilityIndex":{"minfo":"14.0","minfoseo":"14-0"},"LastPublishMilliTime":{"minfo":"1599276059338","minfoseo":"1599276059338"},"ReadabilityGradeLevel":{"minfo":"College","minfoseo":"college"},"GadgetsMarkedReviewed":{"minfo":"0","minfoseo":"0"},"HashCode":{"minfo":"929121583","minfoseo":"929121583"},"latestnewsflag":{"minfo":"1.0","minfoseo":"1-0"},"NumberOfCharacters":{"minfo":"3213.0","minfoseo":"3213-0"},"NumberOfWords":{"minfo":"523.0","minfoseo":"523-0"},"key":{"0":{"keyid":"9171","value":"Anil Ambani","smid":"0","keynameseo":"Anil-Ambani","keytype":"","keycount":"totalcount","weightage":"100"},"1":{"keyid":"34974","value":"telecom news","smid":"0","keynameseo":"telecom-news","keytype":"","keycount":"totalcount","weightage":"20"},"2":{"keyid":"6354504","value":"reliance jio","smid":"0","keynameseo":"reliance-jio","keytype":"","keycount":"totalcount","weightage":"20"},"3":{"keyid":"44524","value":"Reliance Infratel","smid":"0","keynameseo":"Reliance-Infratel","keytype":"","keycount":"totalcount","weightage":"20"},"4":{"keyid":"46907","value":"Reliance communications","smid":"0","keynameseo":"Reliance-communications","keytype":"","keycount":"totalcount","weightage":"20"},"5":{"keyid":"6368075","value":"RCom","smid":"0","keynameseo":"RCom","keytype":"","keycount":"totalcount","weightage":"20"},"6":{"keyid":"2003276","value":"Jio","smid":"0","keynameseo":"Jio","keytype":"","keycount":"totalcount","weightage":"20"},"8":{"keyid":"6488834","value":"bankruptcy resolution","smid":"0","keynameseo":"bankruptcy-resolution","keytype":"","keycount":"totalcount","weightage":"20"},"9":{"keyid":"3741132","value":"bankruptcy board of india","smid":"0","keynameseo":"bankruptcy-board-of-india","keytype":"","keycount":"totalcount","weightage":"20"}},"authorsplit":{"author":[{"artau":"Saloni Shukla","aunameseo":"saloni-shukla","artauid":"479242889","artauemail":"saloni.shukla@timesgroup.com","auselfimageid":"479242889","auimageid":"00479242889","auimagelen":"22431","auFullName":"Saloni Shukla","pubname":"The Economic Times","designame":"Deputy Banking Editor","audetailsxml":{"authordetails":"Saloni Shukla has nearly 15 years of experience covering a range of issues in the financial services sector, real estate and investigative journalism. Her expertise lies in reporting on the boardroom drama inside our banks, corporate finance, fund raising, distressed assets and the policy actions by the Reserve Bank of India.","details":{"detail":[{"@attributes":{"type":"occupation"}},{"@attributes":{"type":"beat"}}]}},"aulinksxml":{"links":{"link":{"twitter":[],"facebook":[],"googlePlusUrl":[],"contributorUrl":[]}}},"auagencyid":"88675387","auagencyname":"ET Bureau","autype":"GENERAL"},{"artau":"Maulik Vyas","aunameseo":"maulik-vyas","artauid":"479252993","artauemail":"maulik.vyas@timesgroup.com","auselfimageid":"479252993","auimageid":"00479252993","auimagelen":"40014","auFullName":"Maulik Vyas","pubname":"ET","designame":"Assistant Editor","audetailsxml":{"authordetails":"I write on Corporate Affairs, Legal, Law Firms and Legal Department of Companies. Corporate and private disputes in various courts and tribunals including Bombay High Court, National Company Law Tribunal (NCLT), Securities Appellate Tribunal (SAT), Competition Commission of India (CCI) and National Green Tribunal (NGT) and strategies to fight such dispute fascinates me. I am also interested to write on boardroom battles, corporate governance and business strategy. Twitter: @MaulikVyas_ET","details":{"detail":[{"@attributes":{"type":"occupation"}},{"@attributes":{"type":"beat"}}]}},"aulinksxml":{"links":{"link":{"twitter":[],"facebook":[],"googlePlusUrl":[],"contributorUrl":[]}}},"autype":"GENERAL"}]},"similarlytagged":[{"msid":"94822982","stname":"RBI's new norms for ARCs may further delay Aircel & RCom debt resolutions","artsyn":"Asset Reconstruction Company of India (Arcil), Edelweiss ARC and government-promoted National Asset Reconstruction Company, which have NOFs exceeding \u20b91,000 crore, are eligible to submit bids in bankruptcy settings. The central bank has further said that ARCs should not retain any control over the insolvent company after five years, thus indicating that it would have to find a buyer and exit the company in the medium term.","seolocation":"telecomnews\/rbis-new-norms-for-arcs-may-further-delay-aircel-rcom-debt-resolutions","seolocationalt":"RBI's new norms for ARCs may further delay Aircel & RCom debt resolutions","url_seo":"rbis-new-norms-for-arcs-may-further-delay-aircel-rcom-debt-resolutions"},{"msid":"93626971","stname":"Lenders to Anil Ambani's RITL, RIL reach takeover deal","artsyn":"Banks led by the State Bank of India (SBI) have agreed to issue a no objection certificate (NOC) to RIL following which the Mukesh Ambani-promoted company will transfer the agreed amount to an escrow account. The NOC essentially is a no dues certificate for RITL, a procedure followed before the implementation of the resolution plan.","seolocation":"telecomnews\/lenders-to-anil-ambanis-ritl-ril-reach-takeover-deal","seolocationalt":"Lenders to Anil Ambani's RITL, RIL reach takeover deal","url_seo":"lenders-to-anil-ambanis-ritl-ril-reach-takeover-deal"},{"msid":"92562430","stname":"How Mukesh Ambani will split his empire to avoid his father\u2019s folly","artsyn":"Ambani\u2019s first-born, Akash, 30, will succeed him as chairman at India\u2019s No.1 wireless carrier Reliance Jio Infocomm Ltd. The patriarch, who resigned from the Infocomm board, will continue to helm Jio Platforms Ltd., which owns all digital assets including the telco. This is probably a stopgap arrangement until Jio Platforms, whose investors include Meta Platforms Inc. and Alphabet Inc., concludes its much-awaited initial public offering.","seolocation":"telecomnews\/how-mukesh-ambani-will-split-his-empire-to-avoid-his-fathers-folly","seolocationalt":"How Mukesh Ambani will split his empire to avoid his father\u2019s folly","url_seo":"how-mukesh-ambani-will-split-his-empire-to-avoid-his-fathers-folly"},{"msid":"90409326","stname":"Reliance Communications resolution professional seeks buyers for non-core assets","artsyn":"The winning bidder for RCom, UV Asset Reconstruction Company, and lenders have given in-principle consent to the RP to explore the sale of its unencumbered assets, said the people. The RP, Anish Nanavaty backed by Deloitte, will obtain a fresh valuation and hold an auction of the assets, similar to the process followed under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, they said.","seolocation":"telecomnews\/reliance-communications-resolution-professional-seeks-buyers-for-non-core-assets","seolocationalt":"Reliance Communications resolution professional seeks buyers for non-core assets","url_seo":"reliance-communications-resolution-professional-seeks-buyers-for-non-core-assets"},{"msid":"84058254","stname":"Gulshan Khurana likely to replace Vodafone Idea's Mudit Agarwal","artsyn":"In January 2019, Khurana joined the US-based technology company Oracle as strategic sales consulting lead for Asia Pacific and Japan region, and also previously worked with networking major Cisco as a CTO for India and SAARC region.","seolocation":"telecomnews\/gulshan-khurana-likely-to-replace-vodafone-ideas-mudit-agarwal","seolocationalt":"Gulshan Khurana likely to replace Vodafone Idea's Mudit Agarwal","url_seo":"gulshan-khurana-likely-to-replace-vodafone-ideas-mudit-agarwal"},{"msid":"83593833","stname":"Reliance Communications requests DoT to renew telecom licence for 20 years","artsyn":"The now defunct telecom company, previously owned by Anil Ambani, is currently being run by a resolution professional (RP) Deloitte as part of a bankruptcy process under the Insolvency and Bankruptcy Code (IBC).","seolocation":"telecomnews\/reliance-communications-requests-dot-to-renew-telecom-licence-for-20-years","seolocationalt":"Reliance Communications requests DoT to renew telecom licence for 20 years","url_seo":"reliance-communications-requests-dot-to-renew-telecom-licence-for-20-years"},{"msid":"81962067","stname":"Sebi imposes Rs 25 crore penalty on Ambani brothers, others","artsyn":"The regulator alleged that the 6.83 per cent stake, which was acquired by RIL\u2019s promoters together with persons acting in concert (PACs) in 2000, was in excess of the ceiling of 5 per cent prescribed in the takeover code.","seolocation":"telecomnews\/sebi-imposes-rs-25-crore-penalty-on-ambani-brothers-others","seolocationalt":"Sebi imposes Rs 25 crore penalty on Ambani brothers, others","url_seo":"sebi-imposes-rs-25-crore-penalty-on-ambani-brothers-others"},{"msid":"79525499","stname":"Government to challenge Anil Ambani\u2019s stance on personal guarantee law","artsyn":"The government and the Insolvency & Bankruptcy Board of India (IBBI) are set to challenge the position taken by Anil Ambani and former Bhushan Power and Steel chairman Sanjay Singhal, questioning the invocation of their personal guarantee. Singhal, who has now been ousted from his company, and Ambani had questioned the validity of the provisions.","seolocation":"telecomnews\/government-to-challenge-anil-ambanis-stance-on-personal-guarantee-law","seolocationalt":"Government to challenge Anil Ambani\u2019s stance on personal guarantee law","url_seo":"government-to-challenge-anil-ambanis-stance-on-personal-guarantee-law"},{"msid":"79523456","stname":"Ambanis are now twice as rich as the second wealthiest family in Asia","artsyn":"The pandemic had gutted the global economy and Mumbai-where the family lives in a 27-story skyscraper named Antilia-was in the midst of a surge in infections. But in the preceding weeks Ambani, 63, had struck deals with some of the world's leading tech giants to sell stakes in Reliance's digital venture. The next blizzard of fundraising announcements in his retail arm was just days away.","seolocation":"telecomnews\/ambanis-are-now-twice-as-rich-as-the-second-wealthiest-family-in-asia","seolocationalt":"Ambanis are now twice as rich as the second wealthiest family in Asia","url_seo":"ambanis-are-now-twice-as-rich-as-the-second-wealthiest-family-in-asia"},{"msid":"78903584","stname":"MCA challenges Anil Ambani\u2019s stance on personal insolvency law","artsyn":"The Ministry of Corporate Affairs has told the Delhi high court that the personal insolvency law is not unconstitutional and the government had always intended to bring personal guarantors within the ambit of the Insolvency and Bankruptcy Code, people aware of the matter said.","seolocation":"telecomnews\/mca-challenges-anil-ambanis-stance-on-personal-insolvency-law","seolocationalt":"MCA challenges Anil Ambani\u2019s stance on personal insolvency law","url_seo":"mca-challenges-anil-ambanis-stance-on-personal-insolvency-law"},{"msid":"78885258","stname":"Yes Bank starts physical takeover of Anil Ambani\u2019s Reliance Group HQ in Mumbai","artsyn":"In July, the private lender had taken symbolic possession of the sprawling complex situated off the Western Express Highway and overlooking the Mumbai airport. The action was taken under the SARFAESI Act to recover dues of Rs 2,892 crore from Reliance Infrastructure.","seolocation":"telecomnews\/yes-bank-starts-physical-takeover-of-anil-ambanis-reliance-group-hq-in-mumbai","seolocationalt":"Yes Bank starts physical takeover of Anil Ambani\u2019s Reliance Group HQ in Mumbai","url_seo":"yes-bank-starts-physical-takeover-of-anil-ambanis-reliance-group-hq-in-mumbai"},{"msid":"78623005","stname":"Delhi HC issues notices to SBI, others in Anil Ambani personal guarantee case","artsyn":"The Delhi High Court issued a notice to the State Bank of India (SBI) and others to seek their response on whether Chinese lenders should be impleaded in a case filed by Anil Ambani, where he is challenging the bankruptcy court\u2019s ruling to appoint an interim resolution professional (IRP) in the personal guarantee case.","seolocation":"telecomnews\/delhi-hc-issues-notices-to-sbi-others-in-anil-ambani-personal-guarantee-case","seolocationalt":"Delhi HC issues notices to SBI, others in Anil Ambani personal guarantee case","url_seo":"delhi-hc-issues-notices-to-sbi-others-in-anil-ambani-personal-guarantee-case"},{"msid":"78619836","stname":"Court sends notice to Chinese banks on Anil Ambani\u2019s plea","artsyn":"In the London case, the Chinese lenders argued that they provided funding to Ambani\u2019s Reliance Communications Ltd. in 2012 with the condition that he personally guarantee the debt. They have yet to receive any funds despite winning that ruling.","seolocation":"telecomnews\/court-sends-notice-to-chinese-banks-on-anil-ambanis-plea","seolocationalt":"Court sends notice to Chinese banks on Anil Ambani\u2019s plea","url_seo":"court-sends-notice-to-chinese-banks-on-anil-ambanis-plea"},{"msid":"78377059","stname":"Will take all legal routes to recover $717 million, say Chinese Banks to Anil Ambani","artsyn":"Three Chinese banks said they will pursue all legal routes to recover $717 million (\u20b95,306 crore) from Anil Ambani, which the Reliance Group chairman was ordered to cough up by a UK court in May.","seolocation":"telecomnews\/will-take-all-legal-routes-to-recover-717m-chinese-banks","seolocationalt":"Will take all legal routes to recover $717 million, say Chinese Banks to Anil Ambani","url_seo":"will-take-all-legal-routes-to-recover-717m-chinese-banks"},{"msid":"78357255","stname":"Chinese banks to start enforcement action against Anil Ambani\u2019s worldwide assets","artsyn":"The three Chinese banks to whom Anil Ambani owes more than $716 million (Rs 5,276 crore), as well as significant legal costs, have decided to pursue their rights against him on his worldwide assets, following the beleaguered Reliance Group chairman\u2019s English high court cross-examination on Friday.","seolocation":"telecomnews\/chinese-banks-to-start-enforcement-action-against-anil-ambanis-worldwide-assets","seolocationalt":"Chinese banks to start enforcement action against Anil Ambani\u2019s worldwide assets","url_seo":"chinese-banks-to-start-enforcement-action-against-anil-ambanis-worldwide-assets"},{"msid":"78329372","stname":"Anil Ambani discloses worldwide assets to UK court in Chinese banks case","artsyn":"Indebted business tycoon Anil Ambani told a UK court on Friday that he lives a simple life, drives just one car and has sold his jewellery to pay his legal fees.","seolocation":"telecomnews\/anil-ambani-discloses-worldwide-assets-to-uk-court-in-chinese-banks-case","seolocationalt":"Anil Ambani discloses worldwide assets to UK court in Chinese banks case","url_seo":"anil-ambani-discloses-worldwide-assets-to-uk-court-in-chinese-banks-case"},{"msid":"78164418","stname":"SC dismisses SBI plea seeking vacation of stay on Anil Ambani bankruptcy case","artsyn":"The apex court further directed HC to consider the issue on October 6, adding that SBI is at liberty to seek modification of stay order.","seolocation":"telecomnews\/sc-dismisses-sbi-plea-seeking-vacation-of-stay-on-anil-ambani-bankruptcy-case","seolocationalt":"SC dismisses SBI plea seeking vacation of stay on Anil Ambani bankruptcy case","url_seo":"sc-dismisses-sbi-plea-seeking-vacation-of-stay-on-anil-ambani-bankruptcy-case"},{"msid":"77945783","stname":"An insolvency professional explains why enforcing Anil Ambani's personal guarantee is a tough task","artsyn":"The progress of the case between State Bank of India (SBI) vs Anil Ambani (Respondent) is expected to lay the groundwork for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors (IRPPG).","seolocation":"telecomnews\/an-insolvency-professional-explains-why-enforcing-anil-ambanis-personal-guarantee-is-a-tough-task","seolocationalt":"An insolvency professional explains why enforcing Anil Ambani's personal guarantee is a tough task","url_seo":"an-insolvency-professional-explains-why-enforcing-anil-ambanis-personal-guarantee-is-a-tough-task"},{"msid":"77942858","stname":"SBI moves SC to vacate stay on recovering dues from Anil Ambani","artsyn":"HC stayed NCLT order appointing IRP; lender had invoked personal guarantee clause.","seolocation":"telecomnews\/sbi-moves-sc-to-vacate-stay-on-recovering-dues-from-anil-ambani","seolocationalt":"SBI moves SC to vacate stay on recovering dues from Anil Ambani","url_seo":"sbi-moves-sc-to-vacate-stay-on-recovering-dues-from-anil-ambani"},{"msid":"77781474","stname":"Indian court halts insolvency proceedings against Reliance's Anil Ambani","artsyn":"An Indian court on Thursday halted insolvency proceedings against Reliance Group chairman Anil Ambani, the younger brother of India's richest man, and barred him from disposing of any of his assets.","seolocation":"telecomnews\/indian-court-halts-insolvency-proceedings-against-reliances-anil-ambani","seolocationalt":"Indian court halts insolvency proceedings against Reliance's Anil Ambani","url_seo":"indian-court-halts-insolvency-proceedings-against-reliances-anil-ambani"}],"primeid":0,"storytags":{"categoryTag":{"sectionid":"49830939","sectionname":"TelecomNews","seolocation":"telecomnews","seolocationalt":"telecomnews"},"otherTags":[{"keyid":"9171","value":"Anil Ambani","smid":"0","keynameseo":"Anil-Ambani","keytype":"","keycount":"totalcount","weightage":"100"},{"keyid":"34974","value":"telecom news","smid":"0","keynameseo":"telecom-news","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"6354504","value":"reliance jio","smid":"0","keynameseo":"reliance-jio","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"44524","value":"Reliance Infratel","smid":"0","keynameseo":"Reliance-Infratel","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"46907","value":"Reliance communications","smid":"0","keynameseo":"Reliance-communications","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"6368075","value":"RCom","smid":"0","keynameseo":"RCom","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"2003276","value":"Jio","smid":"0","keynameseo":"Jio","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"6354887","value":"Industry","smid":"0","keynameseo":"Industry","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"6488834","value":"bankruptcy resolution","smid":"0","keynameseo":"bankruptcy-resolution","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"3741132","value":"bankruptcy board of india","smid":"0","keynameseo":"bankruptcy-board-of-india","keytype":"","keycount":"totalcount","weightage":"20"}],"filterTags":[]},"formattedTags":{"companyTags":[],"otherTags":[{"name":"bankruptcy board of india"},{"name":"Reliance communications"},{"name":"bankruptcy resolution"},{"name":"Reliance Infratel"},{"name":"telecom news"},{"name":"reliance jio"},{"name":"Anil Ambani"},{"name":"Industry"},{"name":"RCom"},{"name":"Jio"}],"newsCategoryTags":[{"name":"TelecomNews","seolocation":"telecomnews"}],"breadcrumbTags":["Anil Ambani","telecom news","reliance jio","Reliance Infratel","Reliance communications","RCom","Jio","Industry","bankruptcy resolution","bankruptcy board of india"],"filterTags":[]},"breadcrumbTags":["Anil Ambani","telecom news","reliance jio","Reliance Infratel","Reliance communications","RCom","Jio","Industry","bankruptcy resolution","bankruptcy board of india"],"Alttitle":{"minfo":""},"Altdescription":{"minfo":""},"amp_url":"\/\/www.iser-br.com\/amp\/news\/sbi-moves-sc-to-vacate-stay-on-recovering-dues-from-anil-ambani\/77942858"}" data-news-images="[{"msid":"77942856","msname":"Anil AMbani NCLT","msnameseo":"anil-ambani-nclt","mediatype":"1","artdate":"2020-09-05 08:46:00.0","caption":""},{"msid":"77942888","msname":"image (14)","msnameseo":"image-14","mediatype":"1","artdate":"2020-09-05 08:49:00.0","caption":""}]" data-newsletter-by="0" data-newsletter-date="a" data-hasbottomcarousel="" data-alldetailsopen="0" data-multipleanalyticshit="" data-deeplink="https://ettelecom.app.link?$deeplink_path=" data-socialshareformat="default">
赞助的故事
<\/a><\/div>Indian court halts insolvency proceedings against Reliance's Anil Ambani<\/h4><\/a><\/div><\/div>
\u2018Far-reaching implication\u2019
<\/strong>
The tribunal had appointed interim resolution professional (IRP) Jitender Kothari to assess Ambani\u2019s assets and liabilities and take a call on the petition filed by SBI to recover dues worth Rs 1,200 crore. The lender said Ambani had personally guaranteed loans taken by Reliance Communications<\/a> (RCom<\/a>), currently undergoing bankruptcy resolution<\/a>. In the special leave petition (SLP) filed by SBI, Ambani, the Ministry of Law & Justice, the Ministry of Corporate Affairs, the Insolvency and Bankruptcy Board of India<\/a> and IRP Kothari have been made respondents. The SLP was filed on Thursday and registered on Friday.
\u201cThis case will be watched not only because Anil Ambani is involved but also because it involves a challenge to the constitutional validity of the personal guarantee in the Insolvency and Bankruptcy Code (IBC),\u201d said Suruchi Suri, partner at law firm Suri & Co. \u201cIt will be interesting to see the outcome of these proceedings and the Supreme Court's view on the personal guarantor in insolvency proceedings, which will lay to rest any ambiguity on the issue.\u201d
<\/div><\/div>In March, SBI had moved the bankruptcy tribunal invoking the personal guarantee clause under the IBC. The law allows lenders to ask the tribunal to appoint an IRP to assess the assets and liabilities of the guarantor.
Ambani had said in June that the loans were not personal borrowings. The proceedings initiated by SBI \u201carose out of a guarantee given for a loan which was availed of by Reliance Communications and Reliance Infratel<\/a> way back in 2016 to repay the debts of Chinese and certain other Indian banks\u201d, Ambani told the annual general meeting of his Reliance Group companies on June 23.
\u201cThe Delhi High Court Order has carefully taken into consideration whilst staying the proceedings against personal guarantors wherein the proceedings against corporate debtor shall remain unaffected,\u201d said Priyanka Sinha, partner at law firm A&P Partner. \u201cIn the interim, the court has also taken precautions that the assets of the personal guarantor are not alienated\u2026This order will have a farreaching implication.\u201d
RCom had filed for bankruptcy last year. In August last year, lenders submitted claims of around Rs 49,000 crore. In March this year, the SBI board approved a resolution plan for RCom that envisaged lenders recovering around \u20b923,000 crore, or less than half of their outstanding loans. RCom owes nearly \u20b95,000 crore to SBI.
<\/div><\/div>
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Her expertise lies in reporting on the boardroom drama inside our banks, corporate finance, fund raising, distressed assets and the policy actions by the Reserve Bank of India.","details":{"detail":[{"@attributes":{"type":"occupation"}},{"@attributes":{"type":"beat"}}]}},"aulinksxml":{"links":{"link":{"twitter":[],"facebook":[],"googlePlusUrl":[],"contributorUrl":[]}}},"auagencyid":"88675387","auagencyname":"ET Bureau","autype":"GENERAL"},{"artau":"Maulik Vyas","aunameseo":"maulik-vyas","artauid":"479252993","artauemail":"maulik.vyas@timesgroup.com","auselfimageid":"479252993","auimageid":"00479252993","auimagelen":"40014","auFullName":"Maulik Vyas","pubname":"ET","designame":"Assistant Editor","audetailsxml":{"authordetails":"I write on Corporate Affairs, Legal, Law Firms and Legal Department of Companies. Corporate and private disputes in various courts and tribunals including Bombay High Court, National Company Law Tribunal (NCLT), Securities Appellate Tribunal (SAT), Competition Commission of India (CCI) and National Green Tribunal (NGT) and strategies to fight such dispute fascinates me. I am also interested to write on boardroom battles, corporate governance and business strategy. Twitter: @MaulikVyas_ET","details":{"detail":[{"@attributes":{"type":"occupation"}},{"@attributes":{"type":"beat"}}]}},"aulinksxml":{"links":{"link":{"twitter":[],"facebook":[],"googlePlusUrl":[],"contributorUrl":[]}}},"autype":"GENERAL"}]},"similarlytagged":[{"msid":"94822982","stname":"RBI's new norms for ARCs may further delay Aircel & RCom debt resolutions","artsyn":"Asset Reconstruction Company of India (Arcil), Edelweiss ARC and government-promoted National Asset Reconstruction Company, which have NOFs exceeding \u20b91,000 crore, are eligible to submit bids in bankruptcy settings. The central bank has further said that ARCs should not retain any control over the insolvent company after five years, thus indicating that it would have to find a buyer and exit the company in the medium term.","seolocation":"telecomnews\/rbis-new-norms-for-arcs-may-further-delay-aircel-rcom-debt-resolutions","seolocationalt":"RBI's new norms for ARCs may further delay Aircel & RCom debt resolutions","url_seo":"rbis-new-norms-for-arcs-may-further-delay-aircel-rcom-debt-resolutions"},{"msid":"93626971","stname":"Lenders to Anil Ambani's RITL, RIL reach takeover deal","artsyn":"Banks led by the State Bank of India (SBI) have agreed to issue a no objection certificate (NOC) to RIL following which the Mukesh Ambani-promoted company will transfer the agreed amount to an escrow account. The NOC essentially is a no dues certificate for RITL, a procedure followed before the implementation of the resolution plan.","seolocation":"telecomnews\/lenders-to-anil-ambanis-ritl-ril-reach-takeover-deal","seolocationalt":"Lenders to Anil Ambani's RITL, RIL reach takeover deal","url_seo":"lenders-to-anil-ambanis-ritl-ril-reach-takeover-deal"},{"msid":"92562430","stname":"How Mukesh Ambani will split his empire to avoid his father\u2019s folly","artsyn":"Ambani\u2019s first-born, Akash, 30, will succeed him as chairman at India\u2019s No.1 wireless carrier Reliance Jio Infocomm Ltd. The patriarch, who resigned from the Infocomm board, will continue to helm Jio Platforms Ltd., which owns all digital assets including the telco. This is probably a stopgap arrangement until Jio Platforms, whose investors include Meta Platforms Inc. and Alphabet Inc., concludes its much-awaited initial public offering.","seolocation":"telecomnews\/how-mukesh-ambani-will-split-his-empire-to-avoid-his-fathers-folly","seolocationalt":"How Mukesh Ambani will split his empire to avoid his father\u2019s folly","url_seo":"how-mukesh-ambani-will-split-his-empire-to-avoid-his-fathers-folly"},{"msid":"90409326","stname":"Reliance Communications resolution professional seeks buyers for non-core assets","artsyn":"The winning bidder for RCom, UV Asset Reconstruction Company, and lenders have given in-principle consent to the RP to explore the sale of its unencumbered assets, said the people. The RP, Anish Nanavaty backed by Deloitte, will obtain a fresh valuation and hold an auction of the assets, similar to the process followed under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, they said.","seolocation":"telecomnews\/reliance-communications-resolution-professional-seeks-buyers-for-non-core-assets","seolocationalt":"Reliance Communications resolution professional seeks buyers for non-core assets","url_seo":"reliance-communications-resolution-professional-seeks-buyers-for-non-core-assets"},{"msid":"84058254","stname":"Gulshan Khurana likely to replace Vodafone Idea's Mudit Agarwal","artsyn":"In January 2019, Khurana joined the US-based technology company Oracle as strategic sales consulting lead for Asia Pacific and Japan region, and also previously worked with networking major Cisco as a CTO for India and SAARC region.","seolocation":"telecomnews\/gulshan-khurana-likely-to-replace-vodafone-ideas-mudit-agarwal","seolocationalt":"Gulshan Khurana likely to replace Vodafone Idea's Mudit Agarwal","url_seo":"gulshan-khurana-likely-to-replace-vodafone-ideas-mudit-agarwal"},{"msid":"83593833","stname":"Reliance Communications requests DoT to renew telecom licence for 20 years","artsyn":"The now defunct telecom company, previously owned by Anil Ambani, is currently being run by a resolution professional (RP) Deloitte as part of a bankruptcy process under the Insolvency and Bankruptcy Code (IBC).","seolocation":"telecomnews\/reliance-communications-requests-dot-to-renew-telecom-licence-for-20-years","seolocationalt":"Reliance Communications requests DoT to renew telecom licence for 20 years","url_seo":"reliance-communications-requests-dot-to-renew-telecom-licence-for-20-years"},{"msid":"81962067","stname":"Sebi imposes Rs 25 crore penalty on Ambani brothers, others","artsyn":"The regulator alleged that the 6.83 per cent stake, which was acquired by RIL\u2019s promoters together with persons acting in concert (PACs) in 2000, was in excess of the ceiling of 5 per cent prescribed in the takeover code.","seolocation":"telecomnews\/sebi-imposes-rs-25-crore-penalty-on-ambani-brothers-others","seolocationalt":"Sebi imposes Rs 25 crore penalty on Ambani brothers, others","url_seo":"sebi-imposes-rs-25-crore-penalty-on-ambani-brothers-others"},{"msid":"79525499","stname":"Government to challenge Anil Ambani\u2019s stance on personal guarantee law","artsyn":"The government and the Insolvency & Bankruptcy Board of India (IBBI) are set to challenge the position taken by Anil Ambani and former Bhushan Power and Steel chairman Sanjay Singhal, questioning the invocation of their personal guarantee. Singhal, who has now been ousted from his company, and Ambani had questioned the validity of the provisions.","seolocation":"telecomnews\/government-to-challenge-anil-ambanis-stance-on-personal-guarantee-law","seolocationalt":"Government to challenge Anil Ambani\u2019s stance on personal guarantee law","url_seo":"government-to-challenge-anil-ambanis-stance-on-personal-guarantee-law"},{"msid":"79523456","stname":"Ambanis are now twice as rich as the second wealthiest family in Asia","artsyn":"The pandemic had gutted the global economy and Mumbai-where the family lives in a 27-story skyscraper named Antilia-was in the midst of a surge in infections. But in the preceding weeks Ambani, 63, had struck deals with some of the world's leading tech giants to sell stakes in Reliance's digital venture. The next blizzard of fundraising announcements in his retail arm was just days away.","seolocation":"telecomnews\/ambanis-are-now-twice-as-rich-as-the-second-wealthiest-family-in-asia","seolocationalt":"Ambanis are now twice as rich as the second wealthiest family in Asia","url_seo":"ambanis-are-now-twice-as-rich-as-the-second-wealthiest-family-in-asia"},{"msid":"78903584","stname":"MCA challenges Anil Ambani\u2019s stance on personal insolvency law","artsyn":"The Ministry of Corporate Affairs has told the Delhi high court that the personal insolvency law is not unconstitutional and the government had always intended to bring personal guarantors within the ambit of the Insolvency and Bankruptcy Code, people aware of the matter said.","seolocation":"telecomnews\/mca-challenges-anil-ambanis-stance-on-personal-insolvency-law","seolocationalt":"MCA challenges Anil Ambani\u2019s stance on personal insolvency law","url_seo":"mca-challenges-anil-ambanis-stance-on-personal-insolvency-law"},{"msid":"78885258","stname":"Yes Bank starts physical takeover of Anil Ambani\u2019s Reliance Group HQ in Mumbai","artsyn":"In July, the private lender had taken symbolic possession of the sprawling complex situated off the Western Express Highway and overlooking the Mumbai airport. The action was taken under the SARFAESI Act to recover dues of Rs 2,892 crore from Reliance Infrastructure.","seolocation":"telecomnews\/yes-bank-starts-physical-takeover-of-anil-ambanis-reliance-group-hq-in-mumbai","seolocationalt":"Yes Bank starts physical takeover of Anil Ambani\u2019s Reliance Group HQ in Mumbai","url_seo":"yes-bank-starts-physical-takeover-of-anil-ambanis-reliance-group-hq-in-mumbai"},{"msid":"78623005","stname":"Delhi HC issues notices to SBI, others in Anil Ambani personal guarantee case","artsyn":"The Delhi High Court issued a notice to the State Bank of India (SBI) and others to seek their response on whether Chinese lenders should be impleaded in a case filed by Anil Ambani, where he is challenging the bankruptcy court\u2019s ruling to appoint an interim resolution professional (IRP) in the personal guarantee case.","seolocation":"telecomnews\/delhi-hc-issues-notices-to-sbi-others-in-anil-ambani-personal-guarantee-case","seolocationalt":"Delhi HC issues notices to SBI, others in Anil Ambani personal guarantee case","url_seo":"delhi-hc-issues-notices-to-sbi-others-in-anil-ambani-personal-guarantee-case"},{"msid":"78619836","stname":"Court sends notice to Chinese banks on Anil Ambani\u2019s plea","artsyn":"In the London case, the Chinese lenders argued that they provided funding to Ambani\u2019s Reliance Communications Ltd. in 2012 with the condition that he personally guarantee the debt. They have yet to receive any funds despite winning that ruling.","seolocation":"telecomnews\/court-sends-notice-to-chinese-banks-on-anil-ambanis-plea","seolocationalt":"Court sends notice to Chinese banks on Anil Ambani\u2019s plea","url_seo":"court-sends-notice-to-chinese-banks-on-anil-ambanis-plea"},{"msid":"78377059","stname":"Will take all legal routes to recover $717 million, say Chinese Banks to Anil Ambani","artsyn":"Three Chinese banks said they will pursue all legal routes to recover $717 million (\u20b95,306 crore) from Anil Ambani, which the Reliance Group chairman was ordered to cough up by a UK court in May.","seolocation":"telecomnews\/will-take-all-legal-routes-to-recover-717m-chinese-banks","seolocationalt":"Will take all legal routes to recover $717 million, say Chinese Banks to Anil Ambani","url_seo":"will-take-all-legal-routes-to-recover-717m-chinese-banks"},{"msid":"78357255","stname":"Chinese banks to start enforcement action against Anil Ambani\u2019s worldwide assets","artsyn":"The three Chinese banks to whom Anil Ambani owes more than $716 million (Rs 5,276 crore), as well as significant legal costs, have decided to pursue their rights against him on his worldwide assets, following the beleaguered Reliance Group chairman\u2019s English high court cross-examination on Friday.","seolocation":"telecomnews\/chinese-banks-to-start-enforcement-action-against-anil-ambanis-worldwide-assets","seolocationalt":"Chinese banks to start enforcement action against Anil Ambani\u2019s worldwide assets","url_seo":"chinese-banks-to-start-enforcement-action-against-anil-ambanis-worldwide-assets"},{"msid":"78329372","stname":"Anil Ambani discloses worldwide assets to UK court in Chinese banks case","artsyn":"Indebted business tycoon Anil Ambani told a UK court on Friday that he lives a simple life, drives just one car and has sold his jewellery to pay his legal fees.","seolocation":"telecomnews\/anil-ambani-discloses-worldwide-assets-to-uk-court-in-chinese-banks-case","seolocationalt":"Anil Ambani discloses worldwide assets to UK court in Chinese banks case","url_seo":"anil-ambani-discloses-worldwide-assets-to-uk-court-in-chinese-banks-case"},{"msid":"78164418","stname":"SC dismisses SBI plea seeking vacation of stay on Anil Ambani bankruptcy case","artsyn":"The apex court further directed HC to consider the issue on October 6, adding that SBI is at liberty to seek modification of stay order.","seolocation":"telecomnews\/sc-dismisses-sbi-plea-seeking-vacation-of-stay-on-anil-ambani-bankruptcy-case","seolocationalt":"SC dismisses SBI plea seeking vacation of stay on Anil Ambani bankruptcy case","url_seo":"sc-dismisses-sbi-plea-seeking-vacation-of-stay-on-anil-ambani-bankruptcy-case"},{"msid":"77945783","stname":"An insolvency professional explains why enforcing Anil Ambani's personal guarantee is a tough task","artsyn":"The progress of the case between State Bank of India (SBI) vs Anil Ambani (Respondent) is expected to lay the groundwork for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors (IRPPG).","seolocation":"telecomnews\/an-insolvency-professional-explains-why-enforcing-anil-ambanis-personal-guarantee-is-a-tough-task","seolocationalt":"An insolvency professional explains why enforcing Anil Ambani's personal guarantee is a tough task","url_seo":"an-insolvency-professional-explains-why-enforcing-anil-ambanis-personal-guarantee-is-a-tough-task"},{"msid":"77942858","stname":"SBI moves SC to vacate stay on recovering dues from Anil Ambani","artsyn":"HC stayed NCLT order appointing IRP; lender had invoked personal guarantee clause.","seolocation":"telecomnews\/sbi-moves-sc-to-vacate-stay-on-recovering-dues-from-anil-ambani","seolocationalt":"SBI moves SC to vacate stay on recovering dues from Anil Ambani","url_seo":"sbi-moves-sc-to-vacate-stay-on-recovering-dues-from-anil-ambani"},{"msid":"77781474","stname":"Indian court halts insolvency proceedings against Reliance's Anil Ambani","artsyn":"An Indian court on Thursday halted insolvency proceedings against Reliance Group chairman Anil Ambani, the younger brother of India's richest man, and barred him from disposing of any of his assets.","seolocation":"telecomnews\/indian-court-halts-insolvency-proceedings-against-reliances-anil-ambani","seolocationalt":"Indian court halts insolvency proceedings against Reliance's Anil Ambani","url_seo":"indian-court-halts-insolvency-proceedings-against-reliances-anil-ambani"}],"primeid":0,"storytags":{"categoryTag":{"sectionid":"49830939","sectionname":"TelecomNews","seolocation":"telecomnews","seolocationalt":"telecomnews"},"otherTags":[{"keyid":"9171","value":"Anil Ambani","smid":"0","keynameseo":"Anil-Ambani","keytype":"","keycount":"totalcount","weightage":"100"},{"keyid":"34974","value":"telecom news","smid":"0","keynameseo":"telecom-news","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"6354504","value":"reliance jio","smid":"0","keynameseo":"reliance-jio","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"44524","value":"Reliance Infratel","smid":"0","keynameseo":"Reliance-Infratel","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"46907","value":"Reliance communications","smid":"0","keynameseo":"Reliance-communications","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"6368075","value":"RCom","smid":"0","keynameseo":"RCom","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"2003276","value":"Jio","smid":"0","keynameseo":"Jio","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"6354887","value":"Industry","smid":"0","keynameseo":"Industry","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"6488834","value":"bankruptcy resolution","smid":"0","keynameseo":"bankruptcy-resolution","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"3741132","value":"bankruptcy board of india","smid":"0","keynameseo":"bankruptcy-board-of-india","keytype":"","keycount":"totalcount","weightage":"20"}],"filterTags":[]},"formattedTags":{"companyTags":[],"otherTags":[{"name":"bankruptcy board of india"},{"name":"Reliance communications"},{"name":"bankruptcy resolution"},{"name":"Reliance Infratel"},{"name":"telecom news"},{"name":"reliance jio"},{"name":"Anil Ambani"},{"name":"Industry"},{"name":"RCom"},{"name":"Jio"}],"newsCategoryTags":[{"name":"TelecomNews","seolocation":"telecomnews"}],"breadcrumbTags":["Anil Ambani","telecom news","reliance jio","Reliance Infratel","Reliance communications","RCom","Jio","Industry","bankruptcy resolution","bankruptcy board of india"],"filterTags":[]},"breadcrumbTags":["Anil Ambani","telecom news","reliance jio","Reliance Infratel","Reliance communications","RCom","Jio","Industry","bankruptcy resolution","bankruptcy board of india"],"Alttitle":{"minfo":""},"Altdescription":{"minfo":""},"amp_url":"\/\/www.iser-br.com\/amp\/news\/sbi-moves-sc-to-vacate-stay-on-recovering-dues-from-anil-ambani\/77942858"}" data-news-images="[{"msid":"77942856","msname":"Anil AMbani NCLT","msnameseo":"anil-ambani-nclt","mediatype":"1","artdate":"2020-09-05 08:46:00.0","caption":""},{"msid":"77942888","msname":"image (14)","msnameseo":"image-14","mediatype":"1","artdate":"2020-09-05 08:49:00.0","caption":""}]" data-newsletter-by="0" data-newsletter-date="a" data-hasbottomcarousel="" data-alldetailsopen="0" data-multipleanalyticshit="" data-deeplink="https://ettelecom.app.link?$deeplink_path=" data-socialshareformat="default">
赞助的故事
<\/div><\/div>In March, SBI had moved the bankruptcy tribunal invoking the personal guarantee clause under the IBC. The law allows lenders to ask the tribunal to appoint an IRP to assess the assets and liabilities of the guarantor.
Ambani had said in June that the loans were not personal borrowings. The proceedings initiated by SBI \u201carose out of a guarantee given for a loan which was availed of by Reliance Communications and Reliance Infratel<\/a> way back in 2016 to repay the debts of Chinese and certain other Indian banks\u201d, Ambani told the annual general meeting of his Reliance Group companies on June 23.
\u201cThe Delhi High Court Order has carefully taken into consideration whilst staying the proceedings against personal guarantors wherein the proceedings against corporate debtor shall remain unaffected,\u201d said Priyanka Sinha, partner at law firm A&P Partner. \u201cIn the interim, the court has also taken precautions that the assets of the personal guarantor are not alienated\u2026This order will have a farreaching implication.\u201d
RCom had filed for bankruptcy last year. In August last year, lenders submitted claims of around Rs 49,000 crore. In March this year, the SBI board approved a resolution plan for RCom that envisaged lenders recovering around \u20b923,000 crore, or less than half of their outstanding loans. RCom owes nearly \u20b95,000 crore to SBI.
<\/div><\/div>
Ambani had said in June that the loans were not personal borrowings. The proceedings initiated by SBI \u201carose out of a guarantee given for a loan which was availed of by Reliance Communications and Reliance Infratel<\/a> way back in 2016 to repay the debts of Chinese and certain other Indian banks\u201d, Ambani told the annual general meeting of his Reliance Group companies on June 23.
\u201cThe Delhi High Court Order has carefully taken into consideration whilst staying the proceedings against personal guarantors wherein the proceedings against corporate debtor shall remain unaffected,\u201d said Priyanka Sinha, partner at law firm A&P Partner. \u201cIn the interim, the court has also taken precautions that the assets of the personal guarantor are not alienated\u2026This order will have a farreaching implication.\u201d
RCom had filed for bankruptcy last year. In August last year, lenders submitted claims of around Rs 49,000 crore. In March this year, the SBI board approved a resolution plan for RCom that envisaged lenders recovering around \u20b923,000 crore, or less than half of their outstanding loans. RCom owes nearly \u20b95,000 crore to SBI.
<\/div><\/div>
Follow and connect with us on Twitter<\/a>, Facebook<\/a>, Linkedin<\/a>, Youtube<\/a><\/div>","NumberOfSentences":{"minfo":"19.0","minfoseo":"19-0"},"AutomatedReadabilityIndex":{"minfo":"14.0","minfoseo":"14-0"},"LastPublishMilliTime":{"minfo":"1599276059338","minfoseo":"1599276059338"},"ReadabilityGradeLevel":{"minfo":"College","minfoseo":"college"},"GadgetsMarkedReviewed":{"minfo":"0","minfoseo":"0"},"HashCode":{"minfo":"929121583","minfoseo":"929121583"},"latestnewsflag":{"minfo":"1.0","minfoseo":"1-0"},"NumberOfCharacters":{"minfo":"3213.0","minfoseo":"3213-0"},"NumberOfWords":{"minfo":"523.0","minfoseo":"523-0"},"key":{"0":{"keyid":"9171","value":"Anil Ambani","smid":"0","keynameseo":"Anil-Ambani","keytype":"","keycount":"totalcount","weightage":"100"},"1":{"keyid":"34974","value":"telecom news","smid":"0","keynameseo":"telecom-news","keytype":"","keycount":"totalcount","weightage":"20"},"2":{"keyid":"6354504","value":"reliance jio","smid":"0","keynameseo":"reliance-jio","keytype":"","keycount":"totalcount","weightage":"20"},"3":{"keyid":"44524","value":"Reliance Infratel","smid":"0","keynameseo":"Reliance-Infratel","keytype":"","keycount":"totalcount","weightage":"20"},"4":{"keyid":"46907","value":"Reliance communications","smid":"0","keynameseo":"Reliance-communications","keytype":"","keycount":"totalcount","weightage":"20"},"5":{"keyid":"6368075","value":"RCom","smid":"0","keynameseo":"RCom","keytype":"","keycount":"totalcount","weightage":"20"},"6":{"keyid":"2003276","value":"Jio","smid":"0","keynameseo":"Jio","keytype":"","keycount":"totalcount","weightage":"20"},"8":{"keyid":"6488834","value":"bankruptcy resolution","smid":"0","keynameseo":"bankruptcy-resolution","keytype":"","keycount":"totalcount","weightage":"20"},"9":{"keyid":"3741132","value":"bankruptcy board of india","smid":"0","keynameseo":"bankruptcy-board-of-india","keytype":"","keycount":"totalcount","weightage":"20"}},"authorsplit":{"author":[{"artau":"Saloni Shukla","aunameseo":"saloni-shukla","artauid":"479242889","artauemail":"saloni.shukla@timesgroup.com","auselfimageid":"479242889","auimageid":"00479242889","auimagelen":"22431","auFullName":"Saloni Shukla","pubname":"The Economic Times","designame":"Deputy Banking Editor","audetailsxml":{"authordetails":"Saloni Shukla has nearly 15 years of experience covering a range of issues in the financial services sector, real estate and investigative journalism. Her expertise lies in reporting on the boardroom drama inside our banks, corporate finance, fund raising, distressed assets and the policy actions by the Reserve Bank of India.","details":{"detail":[{"@attributes":{"type":"occupation"}},{"@attributes":{"type":"beat"}}]}},"aulinksxml":{"links":{"link":{"twitter":[],"facebook":[],"googlePlusUrl":[],"contributorUrl":[]}}},"auagencyid":"88675387","auagencyname":"ET Bureau","autype":"GENERAL"},{"artau":"Maulik Vyas","aunameseo":"maulik-vyas","artauid":"479252993","artauemail":"maulik.vyas@timesgroup.com","auselfimageid":"479252993","auimageid":"00479252993","auimagelen":"40014","auFullName":"Maulik Vyas","pubname":"ET","designame":"Assistant Editor","audetailsxml":{"authordetails":"I write on Corporate Affairs, Legal, Law Firms and Legal Department of Companies. Corporate and private disputes in various courts and tribunals including Bombay High Court, National Company Law Tribunal (NCLT), Securities Appellate Tribunal (SAT), Competition Commission of India (CCI) and National Green Tribunal (NGT) and strategies to fight such dispute fascinates me. I am also interested to write on boardroom battles, corporate governance and business strategy. Twitter: @MaulikVyas_ET","details":{"detail":[{"@attributes":{"type":"occupation"}},{"@attributes":{"type":"beat"}}]}},"aulinksxml":{"links":{"link":{"twitter":[],"facebook":[],"googlePlusUrl":[],"contributorUrl":[]}}},"autype":"GENERAL"}]},"similarlytagged":[{"msid":"94822982","stname":"RBI's new norms for ARCs may further delay Aircel & RCom debt resolutions","artsyn":"Asset Reconstruction Company of India (Arcil), Edelweiss ARC and government-promoted National Asset Reconstruction Company, which have NOFs exceeding \u20b91,000 crore, are eligible to submit bids in bankruptcy settings. The central bank has further said that ARCs should not retain any control over the insolvent company after five years, thus indicating that it would have to find a buyer and exit the company in the medium term.","seolocation":"telecomnews\/rbis-new-norms-for-arcs-may-further-delay-aircel-rcom-debt-resolutions","seolocationalt":"RBI's new norms for ARCs may further delay Aircel & RCom debt resolutions","url_seo":"rbis-new-norms-for-arcs-may-further-delay-aircel-rcom-debt-resolutions"},{"msid":"93626971","stname":"Lenders to Anil Ambani's RITL, RIL reach takeover deal","artsyn":"Banks led by the State Bank of India (SBI) have agreed to issue a no objection certificate (NOC) to RIL following which the Mukesh Ambani-promoted company will transfer the agreed amount to an escrow account. The NOC essentially is a no dues certificate for RITL, a procedure followed before the implementation of the resolution plan.","seolocation":"telecomnews\/lenders-to-anil-ambanis-ritl-ril-reach-takeover-deal","seolocationalt":"Lenders to Anil Ambani's RITL, RIL reach takeover deal","url_seo":"lenders-to-anil-ambanis-ritl-ril-reach-takeover-deal"},{"msid":"92562430","stname":"How Mukesh Ambani will split his empire to avoid his father\u2019s folly","artsyn":"Ambani\u2019s first-born, Akash, 30, will succeed him as chairman at India\u2019s No.1 wireless carrier Reliance Jio Infocomm Ltd. The patriarch, who resigned from the Infocomm board, will continue to helm Jio Platforms Ltd., which owns all digital assets including the telco. This is probably a stopgap arrangement until Jio Platforms, whose investors include Meta Platforms Inc. and Alphabet Inc., concludes its much-awaited initial public offering.","seolocation":"telecomnews\/how-mukesh-ambani-will-split-his-empire-to-avoid-his-fathers-folly","seolocationalt":"How Mukesh Ambani will split his empire to avoid his father\u2019s folly","url_seo":"how-mukesh-ambani-will-split-his-empire-to-avoid-his-fathers-folly"},{"msid":"90409326","stname":"Reliance Communications resolution professional seeks buyers for non-core assets","artsyn":"The winning bidder for RCom, UV Asset Reconstruction Company, and lenders have given in-principle consent to the RP to explore the sale of its unencumbered assets, said the people. The RP, Anish Nanavaty backed by Deloitte, will obtain a fresh valuation and hold an auction of the assets, similar to the process followed under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, they said.","seolocation":"telecomnews\/reliance-communications-resolution-professional-seeks-buyers-for-non-core-assets","seolocationalt":"Reliance Communications resolution professional seeks buyers for non-core assets","url_seo":"reliance-communications-resolution-professional-seeks-buyers-for-non-core-assets"},{"msid":"84058254","stname":"Gulshan Khurana likely to replace Vodafone Idea's Mudit Agarwal","artsyn":"In January 2019, Khurana joined the US-based technology company Oracle as strategic sales consulting lead for Asia Pacific and Japan region, and also previously worked with networking major Cisco as a CTO for India and SAARC region.","seolocation":"telecomnews\/gulshan-khurana-likely-to-replace-vodafone-ideas-mudit-agarwal","seolocationalt":"Gulshan Khurana likely to replace Vodafone Idea's Mudit Agarwal","url_seo":"gulshan-khurana-likely-to-replace-vodafone-ideas-mudit-agarwal"},{"msid":"83593833","stname":"Reliance Communications requests DoT to renew telecom licence for 20 years","artsyn":"The now defunct telecom company, previously owned by Anil Ambani, is currently being run by a resolution professional (RP) Deloitte as part of a bankruptcy process under the Insolvency and Bankruptcy Code (IBC).","seolocation":"telecomnews\/reliance-communications-requests-dot-to-renew-telecom-licence-for-20-years","seolocationalt":"Reliance Communications requests DoT to renew telecom licence for 20 years","url_seo":"reliance-communications-requests-dot-to-renew-telecom-licence-for-20-years"},{"msid":"81962067","stname":"Sebi imposes Rs 25 crore penalty on Ambani brothers, others","artsyn":"The regulator alleged that the 6.83 per cent stake, which was acquired by RIL\u2019s promoters together with persons acting in concert (PACs) in 2000, was in excess of the ceiling of 5 per cent prescribed in the takeover code.","seolocation":"telecomnews\/sebi-imposes-rs-25-crore-penalty-on-ambani-brothers-others","seolocationalt":"Sebi imposes Rs 25 crore penalty on Ambani brothers, others","url_seo":"sebi-imposes-rs-25-crore-penalty-on-ambani-brothers-others"},{"msid":"79525499","stname":"Government to challenge Anil Ambani\u2019s stance on personal guarantee law","artsyn":"The government and the Insolvency & Bankruptcy Board of India (IBBI) are set to challenge the position taken by Anil Ambani and former Bhushan Power and Steel chairman Sanjay Singhal, questioning the invocation of their personal guarantee. Singhal, who has now been ousted from his company, and Ambani had questioned the validity of the provisions.","seolocation":"telecomnews\/government-to-challenge-anil-ambanis-stance-on-personal-guarantee-law","seolocationalt":"Government to challenge Anil Ambani\u2019s stance on personal guarantee law","url_seo":"government-to-challenge-anil-ambanis-stance-on-personal-guarantee-law"},{"msid":"79523456","stname":"Ambanis are now twice as rich as the second wealthiest family in Asia","artsyn":"The pandemic had gutted the global economy and Mumbai-where the family lives in a 27-story skyscraper named Antilia-was in the midst of a surge in infections. But in the preceding weeks Ambani, 63, had struck deals with some of the world's leading tech giants to sell stakes in Reliance's digital venture. The next blizzard of fundraising announcements in his retail arm was just days away.","seolocation":"telecomnews\/ambanis-are-now-twice-as-rich-as-the-second-wealthiest-family-in-asia","seolocationalt":"Ambanis are now twice as rich as the second wealthiest family in Asia","url_seo":"ambanis-are-now-twice-as-rich-as-the-second-wealthiest-family-in-asia"},{"msid":"78903584","stname":"MCA challenges Anil Ambani\u2019s stance on personal insolvency law","artsyn":"The Ministry of Corporate Affairs has told the Delhi high court that the personal insolvency law is not unconstitutional and the government had always intended to bring personal guarantors within the ambit of the Insolvency and Bankruptcy Code, people aware of the matter said.","seolocation":"telecomnews\/mca-challenges-anil-ambanis-stance-on-personal-insolvency-law","seolocationalt":"MCA challenges Anil Ambani\u2019s stance on personal insolvency law","url_seo":"mca-challenges-anil-ambanis-stance-on-personal-insolvency-law"},{"msid":"78885258","stname":"Yes Bank starts physical takeover of Anil Ambani\u2019s Reliance Group HQ in Mumbai","artsyn":"In July, the private lender had taken symbolic possession of the sprawling complex situated off the Western Express Highway and overlooking the Mumbai airport. The action was taken under the SARFAESI Act to recover dues of Rs 2,892 crore from Reliance Infrastructure.","seolocation":"telecomnews\/yes-bank-starts-physical-takeover-of-anil-ambanis-reliance-group-hq-in-mumbai","seolocationalt":"Yes Bank starts physical takeover of Anil Ambani\u2019s Reliance Group HQ in Mumbai","url_seo":"yes-bank-starts-physical-takeover-of-anil-ambanis-reliance-group-hq-in-mumbai"},{"msid":"78623005","stname":"Delhi HC issues notices to SBI, others in Anil Ambani personal guarantee case","artsyn":"The Delhi High Court issued a notice to the State Bank of India (SBI) and others to seek their response on whether Chinese lenders should be impleaded in a case filed by Anil Ambani, where he is challenging the bankruptcy court\u2019s ruling to appoint an interim resolution professional (IRP) in the personal guarantee case.","seolocation":"telecomnews\/delhi-hc-issues-notices-to-sbi-others-in-anil-ambani-personal-guarantee-case","seolocationalt":"Delhi HC issues notices to SBI, others in Anil Ambani personal guarantee case","url_seo":"delhi-hc-issues-notices-to-sbi-others-in-anil-ambani-personal-guarantee-case"},{"msid":"78619836","stname":"Court sends notice to Chinese banks on Anil Ambani\u2019s plea","artsyn":"In the London case, the Chinese lenders argued that they provided funding to Ambani\u2019s Reliance Communications Ltd. in 2012 with the condition that he personally guarantee the debt. They have yet to receive any funds despite winning that ruling.","seolocation":"telecomnews\/court-sends-notice-to-chinese-banks-on-anil-ambanis-plea","seolocationalt":"Court sends notice to Chinese banks on Anil Ambani\u2019s plea","url_seo":"court-sends-notice-to-chinese-banks-on-anil-ambanis-plea"},{"msid":"78377059","stname":"Will take all legal routes to recover $717 million, say Chinese Banks to Anil Ambani","artsyn":"Three Chinese banks said they will pursue all legal routes to recover $717 million (\u20b95,306 crore) from Anil Ambani, which the Reliance Group chairman was ordered to cough up by a UK court in May.","seolocation":"telecomnews\/will-take-all-legal-routes-to-recover-717m-chinese-banks","seolocationalt":"Will take all legal routes to recover $717 million, say Chinese Banks to Anil Ambani","url_seo":"will-take-all-legal-routes-to-recover-717m-chinese-banks"},{"msid":"78357255","stname":"Chinese banks to start enforcement action against Anil Ambani\u2019s worldwide assets","artsyn":"The three Chinese banks to whom Anil Ambani owes more than $716 million (Rs 5,276 crore), as well as significant legal costs, have decided to pursue their rights against him on his worldwide assets, following the beleaguered Reliance Group chairman\u2019s English high court cross-examination on Friday.","seolocation":"telecomnews\/chinese-banks-to-start-enforcement-action-against-anil-ambanis-worldwide-assets","seolocationalt":"Chinese banks to start enforcement action against Anil Ambani\u2019s worldwide assets","url_seo":"chinese-banks-to-start-enforcement-action-against-anil-ambanis-worldwide-assets"},{"msid":"78329372","stname":"Anil Ambani discloses worldwide assets to UK court in Chinese banks case","artsyn":"Indebted business tycoon Anil Ambani told a UK court on Friday that he lives a simple life, drives just one car and has sold his jewellery to pay his legal fees.","seolocation":"telecomnews\/anil-ambani-discloses-worldwide-assets-to-uk-court-in-chinese-banks-case","seolocationalt":"Anil Ambani discloses worldwide assets to UK court in Chinese banks case","url_seo":"anil-ambani-discloses-worldwide-assets-to-uk-court-in-chinese-banks-case"},{"msid":"78164418","stname":"SC dismisses SBI plea seeking vacation of stay on Anil Ambani bankruptcy case","artsyn":"The apex court further directed HC to consider the issue on October 6, adding that SBI is at liberty to seek modification of stay order.","seolocation":"telecomnews\/sc-dismisses-sbi-plea-seeking-vacation-of-stay-on-anil-ambani-bankruptcy-case","seolocationalt":"SC dismisses SBI plea seeking vacation of stay on Anil Ambani bankruptcy case","url_seo":"sc-dismisses-sbi-plea-seeking-vacation-of-stay-on-anil-ambani-bankruptcy-case"},{"msid":"77945783","stname":"An insolvency professional explains why enforcing Anil Ambani's personal guarantee is a tough task","artsyn":"The progress of the case between State Bank of India (SBI) vs Anil Ambani (Respondent) is expected to lay the groundwork for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors (IRPPG).","seolocation":"telecomnews\/an-insolvency-professional-explains-why-enforcing-anil-ambanis-personal-guarantee-is-a-tough-task","seolocationalt":"An insolvency professional explains why enforcing Anil Ambani's personal guarantee is a tough task","url_seo":"an-insolvency-professional-explains-why-enforcing-anil-ambanis-personal-guarantee-is-a-tough-task"},{"msid":"77942858","stname":"SBI moves SC to vacate stay on recovering dues from Anil Ambani","artsyn":"HC stayed NCLT order appointing IRP; lender had invoked personal guarantee clause.","seolocation":"telecomnews\/sbi-moves-sc-to-vacate-stay-on-recovering-dues-from-anil-ambani","seolocationalt":"SBI moves SC to vacate stay on recovering dues from Anil Ambani","url_seo":"sbi-moves-sc-to-vacate-stay-on-recovering-dues-from-anil-ambani"},{"msid":"77781474","stname":"Indian court halts insolvency proceedings against Reliance's Anil Ambani","artsyn":"An Indian court on Thursday halted insolvency proceedings against Reliance Group chairman Anil Ambani, the younger brother of India's richest man, and barred him from disposing of any of his assets.","seolocation":"telecomnews\/indian-court-halts-insolvency-proceedings-against-reliances-anil-ambani","seolocationalt":"Indian court halts insolvency proceedings against Reliance's Anil Ambani","url_seo":"indian-court-halts-insolvency-proceedings-against-reliances-anil-ambani"}],"primeid":0,"storytags":{"categoryTag":{"sectionid":"49830939","sectionname":"TelecomNews","seolocation":"telecomnews","seolocationalt":"telecomnews"},"otherTags":[{"keyid":"9171","value":"Anil Ambani","smid":"0","keynameseo":"Anil-Ambani","keytype":"","keycount":"totalcount","weightage":"100"},{"keyid":"34974","value":"telecom news","smid":"0","keynameseo":"telecom-news","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"6354504","value":"reliance jio","smid":"0","keynameseo":"reliance-jio","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"44524","value":"Reliance Infratel","smid":"0","keynameseo":"Reliance-Infratel","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"46907","value":"Reliance communications","smid":"0","keynameseo":"Reliance-communications","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"6368075","value":"RCom","smid":"0","keynameseo":"RCom","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"2003276","value":"Jio","smid":"0","keynameseo":"Jio","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"6354887","value":"Industry","smid":"0","keynameseo":"Industry","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"6488834","value":"bankruptcy resolution","smid":"0","keynameseo":"bankruptcy-resolution","keytype":"","keycount":"totalcount","weightage":"20"},{"keyid":"3741132","value":"bankruptcy board of india","smid":"0","keynameseo":"bankruptcy-board-of-india","keytype":"","keycount":"totalcount","weightage":"20"}],"filterTags":[]},"formattedTags":{"companyTags":[],"otherTags":[{"name":"bankruptcy board of india"},{"name":"Reliance communications"},{"name":"bankruptcy resolution"},{"name":"Reliance Infratel"},{"name":"telecom news"},{"name":"reliance jio"},{"name":"Anil Ambani"},{"name":"Industry"},{"name":"RCom"},{"name":"Jio"}],"newsCategoryTags":[{"name":"TelecomNews","seolocation":"telecomnews"}],"breadcrumbTags":["Anil Ambani","telecom news","reliance jio","Reliance Infratel","Reliance communications","RCom","Jio","Industry","bankruptcy resolution","bankruptcy board of india"],"filterTags":[]},"breadcrumbTags":["Anil Ambani","telecom news","reliance jio","Reliance Infratel","Reliance communications","RCom","Jio","Industry","bankruptcy resolution","bankruptcy board of india"],"Alttitle":{"minfo":""},"Altdescription":{"minfo":""},"amp_url":"\/\/www.iser-br.com\/amp\/news\/sbi-moves-sc-to-vacate-stay-on-recovering-dues-from-anil-ambani\/77942858"}" data-news-images="[{"msid":"77942856","msname":"Anil AMbani NCLT","msnameseo":"anil-ambani-nclt","mediatype":"1","artdate":"2020-09-05 08:46:00.0","caption":""},{"msid":"77942888","msname":"image (14)","msnameseo":"image-14","mediatype":"1","artdate":"2020-09-05 08:49:00.0","caption":""}]" data-newsletter-by="0" data-newsletter-date="a" data-hasbottomcarousel="" data-alldetailsopen="0" data-multipleanalyticshit="" data-deeplink="https://ettelecom.app.link?$deeplink_path=" data-socialshareformat="default">
