Indian court halts insolvency proceedings against Reliance's Anil Ambani

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Indian court halts insolvency proceedings against Reliance's Anil Ambani
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NEW DELHI (REUTERS) - An Indian court on Thursday (Aug 27) 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.. Read more at straitstimes.com.

NEW DELHI - 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.

His Reliance Communications , a mobile carrier launched in 2002 with cut-price plans, is currently in insolvency. Most of Anil Ambani's other companies, in sectors such as defence, entertainment and infrastructure, have also struggled.

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