Supreme Court dismisses Reliance Communications, lenders’ petitions against bank guarantee invocation
New Delhi: The Supreme Court on Thursday dismissed a batch of petitions filed by Reliance Communications (RCom) and its four lenders challenging the department of telecommunications’ invocation of about ₹800 crore bank guarantee (BG) furnished by them in a case related to Anil Ambani firm’s insolvency proceedings.
A bench comprising justices PS Narasimha and Alok Aradhe, while refusing to stay the department’s move said that the lenders-State Bank of India, Punjab National Bank, Canara Bank and Yes Bank-should have approached the high court rather than coming directly to the apex court.
