NCLAT reserves order on admission of contempt plea filed against Anil Ambani, other officials

The National Company Law Appellate Tribunal (NCLAT) on Wednesday reserved its order over admission of contempt petition filed against Reliance Group Chairman Anil Ambani and its other officials by minority shareholders alleging non-payment of dues by Reliance Infratel.

A two-member bench, headed by NCLAT Chairman Justice S J Mukhopadhaya, said it will decide whether the contempt petition filed by HSBC Daisy Investments (Mauritius) and others should be admitted as Reliance Communications (RCom) is a now going through insolvency proceedings. Reliance Infratel, against which also the contempt petition has been filed, is part of RCom.

The counsel appearing for resolution professional said that as RCom was going through insolvency proceedings and was under the moratorium period under the IBC, it cannot pay money.