NCLAT defers hearing on a contempt petition against Anil Ambani

The National Company Law Appellate Tribunal (NCLAT) on Tuesday deferred the hearing on a contempt petition against Anil Ambani, moved by minority shareholders of one of his firms, Reliance Infratel, till February 25. 

The plea has been moved by HSBC Daisy Investments (Mauritius) and other minority shareholders over an alleged default in payment of Rs 230 crore. HSBC Daisy and other minority investors had on June 26 last year reached a deal with Reliance Infratel in the NCLAT, where it was decided that the latter would pay the said amount over the next six months. 

Reliance Infratel, however, failed to make the payment following which the minority shareholders moved the NCLAT.