NCLAT reserves order on admission of contempt plea against Anil Ambani

The National Company Law Appellate Tribunal (NCLAT) on Wednesday reserved its order whether the contempt proceedings should be initiated against Reliance Communication (RCom) Chairman Anil Ambani and his officials for failing to pay minority investors such as HSBC Daisy Investments (Mauritius). HSBC Daisy had moved the appellate tribunal over alleged default of payment of Rs 230 crore by Reliance Infratel and stated that the company has not fulfilled an undertaking given by it.