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Claims of Reliance Infratel's indirect creditors upheld
Hindustan Times Lucknow
|December 21, 2024
The Supreme Court on Friday upheld the claims, amounting to more than ₹10,952 crore, of four indirect creditors of Reliance Infratel Ltd.
NEW DELHI:
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 these indirect creditors—Exim Bank of China, Assets Care and Reconstruction Enterprise (ACRE), Shubh Holdings, and China Development Bank.
A bench comprising Justice Abhay S. Oka and Justice Augustine George Masih set aside the NCLAT order and restored the National Company Law Tribunal's (NCLT) 2020 order, which had allowed these claims.
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