Doha Bank plea on resolution of Reliance Infratel upheld by NCLT

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 around Rs 3,515 crore recovery for the lenders, according to a source aware of the development.

The payment has to be made from a payment of about Rs 4,400 crore realised from sale of assets to a Reliance Industries Ltd ( RIL) subsidiary through NCLT-driven debt resolution process.