Govt turns heat on Anil Ambani's Reliance Naval

In fresh punitive action against the Anil Ambani-promoted Reliance Naval and Engineering Limited (R-Naval) for its failure to deliver five naval offshore patrol vessels (NOPVs) under a Rs 2,500 crore deal, the government has issued a show-cause notice to the debt-ridden company and encashed all its different bank guarantees worth around Rs 980 crore.

source https://timesofindia.indiatimes.com/india/govt-turns-heat-on-anil-ambanis-reliance-naval/articleshow/74072617.cms