The Delhi HC Thursday restrained Anil Ambani from selling or transferring his assets, and allowed insolvency proceedings against his telecom companies to continue.
If NCLT admits Anil Ambani into the bankruptcy process, a list of all claims against him will be compiled and a repayment plan will be worked out, according to rules.
The order pertains to an alleged personal liability of Anil Ambani and will have no bearing on the operations of RIL, Reliance Power Ltd and Reliance Capital Ltd.
Ambani had until 4:00 p.m. Friday in London to make the payment into court or run the risk of automatically losing the lawsuit over $700 million in defaulted loans.
The Enforcement Directorate official said that Anil Ambani's group companies have taken loans of about Rs 12,800 crore from the crisis-ridden bank that turned NPA.
India should have secured greater savings by pressing Russia for prices nearer the cap while sustaining high volumes. This would have preserved strategic autonomy and served economic logic.
One such website has drawn particular scrutiny for spreading fake stories that have upset not only the Indian but also foreign defence firms by falsely attributing misinformation.
i bet anil ambani will not repay any loan.