NEW DELHI: National Company Law Appellate Tribunal (NCLAT) on Tuesday filed a contempt petition against Reliance Group Chairman Anil Ambani and other officials accusing the Minority Shareholders of not paying the dues on behalf of Reliance Infratel. A two-member bench headed by NCLAT Chairman Justice S J Mukhopadhyay dismissed any contempt petition against Ambani and his officials.
"We have found that no case has been made for contempt. Earlier on July 3, the NCLAT had reserved its order saying it would determine whether the contempt petition filed by HSBC Daisy Investments (Mauritius) and others should be accepted as Reliance Communications (RCom) is undergoing bankruptcy.
The petition was filed by minority shareholder HSBC Daisy Investments (Mauritius) and others accusing Reliance Infratel of not paying the due. Reliance Infratel is a subsidiary of Anil Ambani Group' company Reliance Communications (RCom). R.Com is currently undergoing insolvency and indebtedting inefficiency.
HSBC Daisy had transferred the appellate tribunal on the alleged default of payment of Rs 230 crore by Reliance Infratel. As per the terms agreed to the agreement between Reliance Infratel HSBC Daisy and others, NCLAT had filed in its order on June 26, 2018 that the firm owned by Anil Ambani had to pay the amount in six months.
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