SC dismisses SBI’s plea against Anil Ambani in personal insolvency case – Business Today

In a relief to Reliance Group Chairman Anil Ambani, the Supreme Court has dismissed State Bank of India’s plea seeking vacation of stay on personal insolvency and bankruptcy proceedings against the businessman. The plea pertains to a personal guarantee given by Anil Ambani against a loan taken from SBI by Reliance Communications and Reliance Infratel.

During a hearing on Thursday, the Supreme Court said the Delhi High Court can take up the issue on October 6 and the state-owned lender can also seek removal or modification of the stay order.

Notably, this is first such case where the personal g…

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