This is one of the most high-profile insolvency cases since the Supreme Court judgement on personal guarantors under the Insolvency and Bankruptcy Code (IBC) in November 2023. It has implications for Reliance ADA Group chairman Anil Ambani, Videocon chairman Venugopal Dhoot, and Bhushan Power and Steel promoter Sanjay Singal, who also face personal-insolvency proceedings.
Mint delves into the case and explains how the Supreme Court judgement allows creditors to take high-profile personal guarantors into insolvency, leading to a rise in such litigations.
Whats the background of the case?
In 2016, Indiabulls Housing Finance (IHF) entered into four loan agreements totaling 726 crore with Vivek Infracon and other entities. Chandra assumed th…
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