New Delhi: State Bank of India (SBI) has approached the National Company Law Tribunal (NCLT) to recover its Rs 1,200 crore debt from Anil Ambani. SBI has reached NCLT for recovery of this loan as per the Personal Guarantee Clause under the Insolvency Act. Anil Ambani gave this personal guarantee for the loan of SBI given to Reliance Communications and Reliance Infratel. In this meeting held under the leadership of BSV Prakash Kumar, Anil Ambani has been given a week's time to reply.

Anil Ambani spokesman said that this loan was given to Reliance Communications and Reliance Infratel. Anil Ambani has not taken any personal loan from SBI. Under the insolvency law, Reliance Communications and Reliance Infratel's approval plan has been approved by its borrowers. Now it is waiting for approval of NCLT. The statement said that Ambani will soon file an answer. The NCLT has not given an exemption to the petitioner.

Anil Ambani is constantly getting entangled in deep crisis. Another of his company, Reliance Infrastructure, has failed to repay its debt of Rs 3,315 crore. The lenders to Reliance Naval and Engineering Limited, the promoter company of Reliance Infrastructure, have started preparing to sell it. Proposals have been sought from interested companies.

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