Delhi High Court halts insolvency proceedings against Anil Ambani in Rs 1,200-crore loan default case

Mumbai: In a major relief for Anil Ambani, the Delhi High Court in an interim order stayed insolvency proceedings against him and directed him not to dispose of his assets until further order.

Ambani in his petition, relying on a recent order in the matter of businessman Lalit Jain, where Delhi High Court stayed insolvency proceedings and issued notices to MCA, IBBI & Law Ministry.

On Thursday, the division bench of the Delhi High Court, comprising Justice Vipin Sanghi and Justice Rajnish Bhatnagar stayed the Mumbai National Company Law Tribunal (NCLT) order on the appointment of IRP on the assets of Anil Ambani until further order.