This case involves an application (IA No. 1773 of 2024) filed by Mr. Anil Dhirajlal Ambani, the Applicant/Personal Guarantor, under Section 179 r/w Section 60(5) of the Insolvency and Bankruptcy Code (IBC), seeking to set aside a report filed by the Resolution Professional (RP), Mr. Jitender Kothari.
Anil Dhirajlal Ambani executed a personal guarantee in favor of State Bank of India (SBI) to secure credit facilities extended to Reliance Communications Limited.
SBI classified the credit facility as a non-performing asset (NPA) retrospectively from August 26, 2016.
SBI invoked the guarantee and demanded payment of Rs. 1384,81,64,562/- from Anil Dhirajlal Ambani.
SBI filed an application (CP(IB) 916(MB) of 2020) to initiate the Insolvency Resolution Process against Anil Dhirajlal Ambani as a Personal Guarantor.
Jitender Kothari was appointed as the Resolution Professional (RP) and was directed to file a report under Section 99 of the IBC.
The RP sought extensive information from Anil Dhirajlal Ambani, including details of assets, income, and legal proceedings.
…Sign in to view the parties.
Credit facility…
SBI issues demand…
This case involves an application (IA No. 1773 of 2024) filed by Mr. Anil Dhirajlal Ambani, the Applicant/Personal Guarantor, under Section 179 r/w Section 60(5) of the Insolvency and Bankruptcy Code (IBC), seeking to set aside a report filed by the Resolution Professional (RP), Mr. Jitender Kothari.
Anil Dhirajlal Ambani executed a personal guarantee in favor of State Bank of India (SBI) to secure credit facilities extended to Reliance Communications Limited.
SBI classified the credit facility as a non-performing asset (NPA) retrospectively from August 26, 2016.
SBI invoked the guarantee and demanded payment of Rs. 1384,81,64,562/- from Anil Dhirajlal Ambani.
SBI filed an application (CP(IB) 916(MB) of 2020) to initiate the Insolvency Resolution Process against Anil Dhirajlal Ambani as a Personal Guarantor.
Jitender Kothari was appointed as the Resolution Professional (RP) and was directed to file a report under Section 99 of the IBC.
The RP sought extensive information from Anil Dhirajlal Ambani, including details of assets, income, and legal proceedings.
…Credit facility…
SBI issues demand…