Jio gets NCLT nod to acquire Reliance Infratel

In a move that would result in the closure of Reliance Infratel’s (RITL) insolvency process, the National Company Law Tribunal (NCLT) has approved Mukesh Ambani-led Reliance Jio Infocomm’s (RJio) proposal to complete the resolution process of the debt-laden firm. The bankruptcy court has also asked RJio to deposit the total resolution amount of Rs 3,720 crore in an escrow account.