NCLAT seeks Anil Ambani's response in contempt plea moved by HSBC Daisy

Appellate tribunal seeks Ambani's response within 10 days, to hear matter on May 20

The National Company Law Appellate Tribunal (NCLAT) has asked Reliance Communications (RCom) Chairman Anil Ambani to respond to a contempt petition moved by HSBC Daisy Investments (Mauritius) within 10 days. The appellate tribunal will now hear HSBC Daisy’s plea against Ambani and his company Reliance Infratel on May 20.

HSBC Daisy had moved the NCLAT alleging that Anil Ambani’s companies Reliance Infratel, Reliance Communications Infrastructure and RCom have breached a consent decree by not paying the Rs 230 crore settlement amount within 180 days of June 29, 2018 when the agreement was taken on record by the appellate tribunal.

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