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Delhi HC Stays Insolvency Proceedings Initiated Against Anil Ambani For Rs 1200 Crores Personal Guarantee To SBI

  • Post Author:admin
  • Post published:August 30, 2020

27 Aug, 2020   In the matter of Anil Dhirajlal Ambani Vs. State Bank of India & Ors. W.P.(C) 5712-2020

O R D E R

27.08.2020

C.M. Nos.20649/2020, C.M. Nos.20650/2020 &C.M. Nos.20651/2020
Exemptions allowed, subject to all just exceptions. The applications stand disposed of.

W.P.(C) 5712/2020 & C.M. Nos.20648/2020

Issue notice. Mr. Nirav Shah accepts notice on behalf of respondent No.1; Mr. Akshay Makhija accepts notice on behalf of respondents No.2 & 3; Mr. Vikas Mehta accepts notice on behalf of respondent No.4, and Ms.Kavita Jha accepts notice on behalf of respondent No.5. Counter-affidavits be filed within three weeks. Rejoinder, if any, be filed before the next date.

List on 06.10.2020 along with W.P.(C) No. 4849/2020.

In the meantime, the proceedings would continue in relation to the Corporate Debtor and while dealing with those proceedings, the liability of the petitioner may also be examined by the IRP. However, the proceedings against the petitioner under Part-III of the IBC shall remain stayed. We restrain the petitioner from transferring, alienating, encumbering, or dealing with, or disposing of any of his assets, or his rights, or beneficial interest therein till the next date.

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