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The Mumbai Bench of the NCLT admitted SBI’s application seeking personal insolvency proceedings against Reliance Group Chairman Anil Ambani. The Tribunal appointed a Resolution Professional and directed issuance of a public notice inviting creditor claims, marking a major development in the insolvency process.
The Mumbai Bench of the National Company Law Tribunal (NCLT) has admitted an application filed by State Bank of India (SBI) seeking initiation of personal insolvency proceedings against Reliance Group Chairman Anil Ambani. The order marks a significant development in one of the most closely watched insolvency matters involving a…