The statement said the order will be reviewed and challenged before appropriate legal forums
| Photo Credit:
greenleaf123
The National Company Law Tribunal (NCLT) has admitted two significant insolvency petitions filed by public sector lenders — State Bank of India and Canara Bank, marking a fresh escalation in legal and financial challenges involving entities linked to Anil Ambani and RInfra.
The Mumbai bench of the NCLT admitted State Bank of India’s insolvency plea against Anil Ambani in his role as a personal guarantor for loans extended to Reliance Communications and Reliance Infratel, with dues of around ₹1,200 crore. The loans, sanctioned in 2016, turned delinquent soon after, and despite invocation of Ambani’s s personal guarantee, repayment has not been made.
Responding to the order, a spokesperson for Anil D. Ambani said the matter relates to a disputed personal guarantee allegedly extended in 2016, prior to the enactment of personal insolvency provisions. The spokesperson added that the underlying loans were used by Reliance Communications to repay borrowings from Chinese lenders and that Ambani derived no personal benefit. The statement said the order will be reviewed and challenged before appropriate legal forums.
In a parallel development, the NCLT also admitted Canara Bank’s plea to initiate insolvency proceedings against HK Toll Road Pvt. Ltd., a wholly owned subsidiary of RInfra, over unpaid dues of ₹283 crore. The tribunal held that disputes raised by the company with the National Highways Authority of India (NHAI) over alleged wrongful termination of a highway concession cannot dilute its liability toward the lender. It emphasised that insolvency proceedings are confined to determining the existence of debt and default, not adjudicating external contractual disputes.
Published on June 11, 2026
