Lenders discuss option to invite fresh bid for Reliance Communications’ assets with resolution professional

MUMBAI: A consortium of Reliance Communications’ (RCom) lenders, led by the State Bank of India, have held discussions with resolution professional Deloitte on whether rebidding for the bankrupt telco’s assets is an option, people familiar with the matter said.

Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India (RBI) is unlikely to permit asset reconstruction firm UVARCL buying RCom’s spectrum and other assets under a resolution plan, the people said.

“There are informal discussions among lenders over the viability of the resolution plans for RCom and its units, as they have been delayed beyond measure,” said a bank official in the know. “Some lenders feel the bids should be put out again.”