INSOLVENCY RESOLUTION PROCESS OF PERSONAL GUARANTORS:STATE BANK OF INDIA VS. ANIL DHIRAJLAL AMBANI

The matters of State Bank of India vs. Anil Dhirajlal Ambani1 (“Anil Ambani cases”) have recently been filed before the National Company Law Tribunal, Mumbai Bench (“NCLT”), which calls into question the scheme of the Insolvency and Bankruptcy Code, 2016 (“IBC”) and the relevant rules and regulations relating to personal guarantors.