An Indian court on Thursday 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 Mukesh Ambani, had filed a plea with the Delhi High Court challenging the appointment of a resolution professional over a roughly 12 billion rupee ($163 million)personal guarantee that he had given to the State Bank of India for loans to his companies. …read more
Source:: Yahoo Finance
