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SC decision on Anil Ambani guarantee to decide fate of other promoters

Banks plan to invoke personal guarantees in 40 cases

Topics
Indian promoters | Anil Ambani | Indian Banks

Dev Chatterjee  |  Mumbai 

Several Indian promoters are under the apprehension that their personal guarantees may be invoked by banks after they defaulted on loans. The banks have already prepared a list of guarantors following a nudge from the Finance Ministry. The Supreme Court (SC) will start hearing the Anil Ambani vs State Bank of India (SBI) case from next week whether to invoke personal guarantees given by Ambani to SBI or not.

The decision in the case will set the ball rolling for other promoters. We take a look at what this case means for the banks and for the Indian promoters. Why is SBI ...

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First Published: Fri, September 11 2020. 18:09 IST
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