Industry

NCLT enables R-Infra lenders to get ₹3,515 crore

The National Company Law Tribunal (NCLT) has upheld the petition of Doha Bank seeking priority payment for the financial creditors of Reliance Infratel which will lead to about ₹3,515 crore recovery for the lenders, according to a source aware of the development.

The payment has to be made from the sum of about ₹4,400 crore realised from sale of assets to a Reliance Industries subsidiary via the NCLT-driven debt resolution process.

According to the source, State Bank of India will lead the list of creditors with receipt of ₹728 crore.

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Printable version | Apr 10, 2021 8:35:07 PM | https://www.thehindu.com/business/Industry/nclt-enables-r-infra-lenders-recover-upholds-doha-bank-plea-to-to-get-3515-crore/article33983315.ece

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