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Published: Apr 30, 2022
Updated: Apr 30, 2022
Several promoters who lost their companies under the Insolvency and Bankruptcy Code, 2016 are facing another major issue with the banks.
Some of the prominent promoters, including Anil Ambani, Venugopal Dhoot and the Ruia brothers, had given their personal guarantees on loans. Now, the Supreme Court has ordered invoking of their personal guarantees.
This basically means that any assets which are in the names of the promoters will be seized by banks to recover their dues. Several prominent promoters are already in talks with banks vis-a-vis repayment of their dues. The only problem for the banks is that none of the promoters have any assets under their names.
September 30, 2025 - Combined Issue
Industry Review
VOL XVI - 22
September 16-30, 2025
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