The Delhi High Court has issued a notice to the State Bank of India (SBI) and others seeking their response on whether Chinese lenders should be impleaded in a case filed by Anil Ambani.
Recently, Ambani had filed an application seeking the impleadment of Chinese banks in his pending petition challenging the appointment of an interim resolution professional (IRP) in the personal guarantee case.
Along with SBI, Insolvency & Bankruptcy Board of India (IBBI) and the Ministry of Corporate Affairs are also asked for their brief written submissions on this issue before the next date of hearing. The Court has also issued notice to three state-owned Chinese banks, Industrial and Commercial Bank of China, China Development Bank and Exim Bank of China, on the matter.
The matter will next be heard by the court on November 10, 2020.
Meanwhile, the Delhi High court allowed the interim moratorium granted under the provisions Insolvency and Bankruptcy Code (IBC) to be in continued in effect on Ambani’s personal assets to ensure that the interest of SBI is protected during the pendency of the case.