Relief for Anil Ambani as SC dismisses SBI plea

The Supreme Court bench, headed by Justice L Nageswara Rao, directed the Delhi High Court to consider the issue on October 6.

The bench, also comprising Justices Hemant Gupta and S Ravindra Bhat, gave liberty to SBI to seek modification of the stay order passed by the High Court on August 27. The three-judge bench said, “Why don’t you go back to high court to argue the Anil Ambani case?”

On August 27, the High Court’s division bench had passed an interim order staying the Mumbai bankruptcy tribunal’s order. The bench had said proceedings against corporate debtors will continue and issued notice to the central government, SBI and others.