The Mumbai Bench of the NCLT admitted SBI’s application seeking personal insolvency proceedings against Reliance Group Chairman Anil Ambani. The Tribunal appointed a Resolution Professional and directed issuance of a public notice inviting creditor claims, marking a major development in the insolvency process.
The Bombay High Court held that merely demanding repayment of a loan or following up with a borrower cannot amount to abetment of suicide. The Court clarified that Section 306 IPC requires clear evidence of intentional instigation, active encouragement, or conduct specifically intended to drive a person to take their own life.