The National Company Law Tribunal (NCLT) has decided to appoint an interim resolution professional (IRP) in a case filed by lender State Bank of India (SBI) against Anil Ambani.

Recently, SBI had moved the NCLT in Mumbai to recover over Rs 12 billion from Anil Ambani under the personal guarantee clause of the bankruptcy law. The lender said Ambani had personally guaranteed loans taken by Reliance Communications (RCOM).

Meanwhile, China-based banks are reportedly slated to get 30 per cent or Rs 70 billion from RCOM, Reliance Telecom and Reliance Infratel resolution plan. These China-based banks include the China Development Bank, China Exim Bank and Industrial and Commercial Bank of China (ICBC).