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India Court Suspends Bankruptcy Case Against Tycoon Anil Ambani

Anil Ambani

Anil Ambani

Photographer: Dhiraj Singh/Bloomberg

An Indian court halted personal bankruptcy case hearings against Anil Ambani, in order to hear his broader challenge against certain parts of the country’s insolvency law.

The Delhi High Court on Thursday restrained the former billionaire from selling or transferring his assets. It allowed insolvency proceedings against Ambani’s telecom companies, including Reliance Communications Ltd., to continue.