Several Indian promoters are facing the prospects of their personal guarantees being invoked by the banks after they defaulted on loans. The banks have already prepared the list of guarantors following a nudge from the Finance Ministry. The Supreme Court will start hearing in the Anil Ambani vs State Bank of India (SBI) case from next week on whether to invoke personal guaranteed given by Ambani to SBU or not.
The decision on the case will be set the ball rolling for other promoters. We take a look at what this case means for the banks and for the Indian promoters. Why SBI is ...
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