Mumbai: Anil Ambani’s problems have increased. The National Company Law Tribunal (NCLT) has given permission to pursue insolvency proceedings against Anil Ambani. This order has come against him as he hasn’t repaid the loan of Rs1200 crores to State Bank of India (SBI). State Bank had given this loan to Anil Ambani-led companies Reliance Communications (RCOM) and Reliance Infratel (RITL) in the year 2016.
Anil Ambani had given a personal guarantee for this loan of Rs1200 crore. Now both companies have closed down. For this reason, SBI had to make a request in Mumbai NCLT. The bank demanded that according to the insolvency law, this amount should be recovered from Anil Ambani, as he has given the personal guarantee of this loan. NCLT Mumbai said in its comment that ‘Both RCOM and RITL defaulted in the payment of the debt in January 2017. Its account was declared non-performing asset since 26 August 2016.
At the beginning of the year 2019, RCom had applied for bankruptcy told that there is a debt of about Rs 33,000 crore on him. However, banks say that he has taken a loan of Rs 49,000 crore on RCom till August 2019. In March this year, the SBI board introduced a resolution plan for RCom, stating that banks would recover Rs 23,000 crore by giving a concession of around 50 percent.
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