SBI moves NCLT to recover Rs 1.2k-cr Reliance Communications loans from Anil Ambani

SBI moved the NCLT under Section 97(3) of Insolvency and Bankruptcy Code (IBC), seeking its intervention to direct the insolvency board to nominate a resolution professional (RP). The bank is aiming to recover a sizeable amount from the personal guarantees made by Anil Ambani on loans to Reliance Communications, said a bank official.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Yn9U2W