The National Company Law Tribunal (NCLT) has reserved its order on the plea filed by the State Bank of India (SBI) against Anil Ambani to recover over Rs 12 billion under the personal guarantee clause of the bankruptcy law.

A division bench of a judicial member Mohammed Ajmal and a technical member Ravikumar Duraisamy has reserved its order after hearing both the sides.

The SBI had approached NCLT under Section 97(3) of the insolvency and bankruptcy code (IBC), seeking its intervention to direct the insolvency board to nominate a resolution professional (RP) to assess and submit a report on the assets owned by Ambani.