Court to hear RCom chief’s plea Oct. 6
The Delhi High Court on Thursday stayed the insolvency resolution process (IRP) proceedings against Reliance Communications (RCom) Chairman Anil Ambani in relation to recovery of ₹1,200 crore of loans given by the State Bank of India to two of his group firms.A bench of Justice Vipin Sanghi and Justice Rajnish Bhatnagar, while putting on hold the IRP under the Insolvency and Bankruptcy Code (IBC), also restrained Mr. Ambani from “transferring, alienating, encumbering or disposing of his assets or legal rights and interests therein till the next date of hearing” on October 6.RCom and Reliance Infratel Limited (RITL) had availed of credit facilities amounting to ₹565 crore and ₹635 crore, respectively, from the State Bank of India (SBI) with Mr. Ambani as the personal guarantor for the corporate loans.
You have reached your limit for free articles this month.
To get full access, please subscribe.
Already have an account ? Sign in
Show Less Plan
Subscription Benefits Include
Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.
Move smoothly between articles as our pages load instantly.
Enjoy reading as many articles as you wish without any limitations.
A one-stop-shop for seeing the latest updates, and managing your preferences.
A select list of articles that match your interests and tastes.
We brief you on the latest and most important developments, three times a day.
*Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.
A letter from the Editor
Dear reader,We have been keeping you up-to-date with information on the developments in India and the world that have a bearing on our health and wellbeing, our lives and livelihoods, during these difficult times. To enable wide dissemination of news that is in public interest, we have increased the number of articles that can be read free, and extended free trial periods. However, we have a request for those who can afford to subscribe: please do. As we fight disinformation and misinformation, and keep apace with the happenings, we need to commit greater resources to news gathering operations. We promise to deliver quality journalism that stays away from vested interest and political propaganda.
Support Quality Journalism
A letter from the Editor
Dear subscriber,Thank you!Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.Suresh Nambath