SBI moved the NCLT under Section 97(3) of Insolvency and Bankruptcy Code (IBC), seeking its intervention to direct the insolvency board to nominate a resolution professional (RP). The bank is aiming to recover a sizeable amount from the personal guarantees made by Anil Ambani on loans to Reliance Communications, said a bank official.source https://economictimes.indiatimes.com/industry/banking/finance/sbi-moves-nclt-to-recover-rs-1-2k-cr-reliance-communications-loans-from-anil-ambani/articleshow/76330394.cms
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