Anil Ambani Approaches SBI, BoB-Led Lenders' Panel for Structured Debt Resolution

Anil D. Ambani has formally approached key public sector lenders, including State Bank of India (SBI) and Bank of Baroda (BoB), to establish a structured resolution process for outstanding liabilities of the Reliance Group. 

Request for Lenders' Committee 

On March 17, 2026, Anil Ambani addressed letters to Challa Sreenivasulu Setty of SBI and Debadatta Chand of BoB, proposing the formation of a lenders' committee.  

This committee aims to establish a legal framework for crystallising any outstanding dues and designing a structured, time-bound repayment plan.  

This step is seen as part of a broader strategy to manage the legacy debt burden impacting multiple entities within the Reliance Group. 

Legal Precedents and Past Records 

Ambani referenced a counter affidavit filed before the Supreme Court of India in a pending writ petition as a basis for this structured resolution request.  

Drawing parallels with the Sandesara/Sterling Biotech case, where liabilities were settled with court approval, he underscored the importance of a formalised approach to debt resolution.  

The letter highlights the role of SBI as the lead bank in the Committee of Creditors for Reliance Communications under insolvency proceedings. 

Seeking Ministerial Support 

A representation has also been made to Finance Minister Nirmala Sitharaman, urging support for the proposed structured resolution model.  

Ambani emphasised the group's proven ability to monetise assets and repay lenders, highlighting past experiences where BoB led successful inter-creditor agreements for Reliance Commercial Finance and Reliance Home Finance. 

Read More: Anil Ambani Proposes Staggered Loan Repayment as Supreme Court Flags Probe Concerns! 

Engagement with Bank Leadership 

Ambani has called for personal engagement from the leadership of these banks to advance the resolution proposal.  

He proposed a meeting during the week of March 23, 2026, to delve into the details and push the discussions forward.  

This approach underscores a commitment to resolving the debt issue through structured and legal frameworks, reflecting ongoing efforts to manage the financial liabilities of the group. 

Conclusion 

Anil Ambani’s appeal to SBI and BoB reflects a strategic move to address the Reliance Group's debt challenges through a structured and legal framework. By involving significant public sector lenders and seeking ministerial backing, Ambani aims to facilitate a systematic approach to manage outstanding liabilities, in line with past successful resolutions. 

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