State Bank of India Seeks $158 Million From Anil Ambani
- Lender petitions tribunal for resolution professional
- Ambani will file suitable replies, his spokesman says
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State Bank of India is seeking to recover two guarantees furnished by the former billionaire Anil Ambani, which according to a news report are worth more than $158 million.
The state-run lender filed an application with the National Company Law Tribunal to appoint a resolution professional, according to an update on the court’s website. The tycoon, who had offered personal guarantee on the bank’s loans to his Reliance Communications Ltd. and Reliance Infratel Ltd., was given a week to reply on Thursday, according to the Press Trust of India.