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Indian court halts insolvency proceedings against Reliance’s Anil Ambani | Malay Mail

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NEW DELHI, Aug 27 — An Indian court today halted insolvency proceedings against Reliance Group chairman Anil Ambani, the younger brother of India’s richest man, and barred him from disposing of any of his assets. Anil Ambani, who runs a business group separate from his billionaire brother...

Thursday, 27 Aug 2020 05:18 PM MYT

NEW DELHI, Aug 27 — An Indian court today halted insolvency proceedings against Reliance Group chairman Anil Ambani, the younger brother of India’s richest man, and barred him from disposing of any of his assets. His Reliance Communications , a mobile carrier launched in 2002 with cut-price plans and is currently in insolvency.

Most of Anil Ambani’s other companies, in sectors such as defence, entertainment and infrastructure, have also struggled.

 

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