Relief for Anil Ambani as SC dismisses SBI plea


New Delhi, Sep 17 | The Supreme Court on Thursday dismissed a plea by the State Bank of India (SBI) seeking a vacation of the stay granted by Delhi High Court on personal bankruptcy proceedings against Anil Ambani, chairman of Reliance Group.

The Supreme Court bench, headed by Justice L. Nageswara Rao, directed the Delhi High Court to consider the issue on October 6.

The bench, also comprising Justices Hemant Gupta and S. Ravindra Bhat, gave liberty to SBI to seek modification of the stay order passed by the High Court on August 27. The three-judge bench said, “Why don’t you go back to high court to argue the Anil Ambani case?”

On August 27, the High Court’s division bench had passed an interim order staying the Mumbai bankruptcy tribunal’s order. The bench had said proceedings against corporate debtors will continue and issued notice to the central government, SBI and others. The bench had also restrained Ambani from selling or transferring any of his personal assets and listed the matter for hearing on October 6.

The SBI in its petition before the apex court last week, had submitted that the high court did not grant the bank an opportunity to file a counter affidavit and was not justified in passing an interim order staying insolvency proceedings against Ambani “who owes to the Bank public money to the tune of Rs 1,707 crore”.

Ambani had moved the Delhi high court against the appointment of a resolution professional on personal guarantees given to SBI for securing corporate loans.

Ambani had challenged the validity of the section pertaining to personal guarantee and asked if there was any enabling provision in the Insolvency Bankruptcy Code (IBC) for such an order.

In March, SBI had filed a petition in the Mumbai bench of the National Company Law Tribunal (NCLT) under section 95 of IBC for personal bankruptcy based on guarantees issued by Ambani. NCLT had appointed Jitender Kothari as a resolution professional (RP).

Source: IANS

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Policybazaar Unveils its new brand campaign "AapKiSideHai"

Policybazaar Unveils its new brand campaign

Akshay Kumar delivers the brand’s promise of always being on the customer’s side

Gurugram, 19th Sept, 2020: (Twitter handle: PolicyBazaar), India’s largest online insurance marketplace with over 10 million customers, showcases its commitment to customers in its new television campaign “AapKiSideHai”. The new ad campaign featuring Policybazaar brand ambassador, Akshay Kumar, highlights the brand’s promise of embracing a holistic customer centric approach while helping to bridge the insurance protection gap in India.

Policybazaar’sAapKiSideHai campaign seeks to reassure its customers on being a dependable Insurance partner for them, every step of the way. The brand has always focused on distributing products like term insurance, health insurance, zero commission ULIP’s and motor insurance that are optimal from a customer perspective. Policybazaar is now extending the brand promise beyond the purchase experience to ensure that consumers get the highest levels of service throughout the policy lifecycle.

The new brand campaign reinforces Policybazaar core value of putting the customer first by delivering on its promise of providing a trusted platform for all types of insurance products. The brand is committed to guiding the customer throughout the insurance journey, starting from recommending the right products at affordable pricing, ensuring thatthe policy issuance process is smooth and fast, and, to providing services and claims assistance when needed.

“While we continue to highlight the importance of Health & Term life Insurance through our marketing campaigns, with the brand promise of Policybazaar AapKiSideHai, we also intend to position Policybazaar as a customer centric brand, that is committed to stand by its customers, both pre and post purchase”, said Samir Sethi, Head of Brand Marketing, The new ad series highlights Policybazaar’s unparalleled support to customers, while providing them with the ease of comparing and buying term and health plans online with guidance at each & every step.

Speaking about the TVC launch, Sharat Dhall, Chief Operating Officer, said, “Our ultimate aim is to provide 360-degree assistance to customers that starts from when the policy is bought, to provide assistance when the claim is paid out, should such a situation arise. Winning and maintaining customer trust is a strong ethos within the company and this campaign reflects that. At a time when the world is grappling with a crisis like no other, the brand intends to instill confidence in the customers’ buying decisions by assuring them protection of their futures with the right insurance products & thorough assistance throughout the journey.”

The new brand campaign in its series displays moments of indecision that people may have while investing in protection products. It addresses these queries &emphasizes the importance of nurturing a bond with the consumers thereby creating customer delight.


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