Why Was Anil Ambani Served Notice for Not Returning Rs 1,200 Crore?
The woes of the head of debt-ridden Reliance Dhirubhai Ambani Group, Anil Ambani, are rising everyday. Now, the State Bank of India has approached the National Company Law Tribunal, citing the Personal Guarantee Act of Bankruptcy Law. SBI has registered a complaint with the NCLT, and demanded Rs 1,200 crore which was lent to Reliance Communications as a corporate loan under the Personal Guarantee Act. Senior economic journalist Paranjoy Guha Thakurta presents an analysis.
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