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Claims of Reliance Infratel's indirect creditors upheld
Mint Mumbai
|December 21, 2024
The apex court upheld ₹10,952 crore claims by four indirect creditors of Anil Ambani-led RCom's tower biz
The Supreme Court on Friday upheld the claims amounting to more than ₹10,952 crore of four indirect creditors of Reliance Infratel Ltd, the tower and fibre business of Mukesh Ambani's telecom company Reliance Communications Ltd (RCom).
Reliance Infratel's total debt exceeds ₹41,055 crore.
In 2022, the National Company Law Appellate Tribunal (NCLAT) rejected the creditors' claims, following a plea by financial creditor Doha Bank, which had objected to the recognition of the indirect creditors—Exim Bank of China, Assets Care and Reconstruction Enterprise (ACRE), Shubh Holdings, and China Development Bank.
This story is from the December 21, 2024 edition of Mint Mumbai.
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