Delhi High Court Stays Insolvency Proceedings Against Anil Ambani Upon SBI's Claims

The Delhi High Court on Thursday stayed proceedings in a case under the Insolvency & Bankruptcy Code (IBC) against Anil Ambani in a matter related to a personal guarantee given by him against a loan taken by Reliance Communications Ltd (RCom) and Reliance Infratel Ltd (RITL) from State Bank of India (SBI). The court also barred Mr Ambani from disposing of any of his assets. SBI had declared the account of Reliance Communications and ...