Reliance Infratel lenders approach NCLT against interim RP’s move

A few lenders with direct exposure to Reliance Infratel (RITL) on Thursday moved the National Company Law Tribunal (NCLT) against the interim resolution professional’s admission of claims of bankers. The bankers’ claims were reported to be around Rs 8,000 crore and based on invoked corporate guarantees issued by RITL in favour of Reliance Communication.

Lawyers representing Doha Bank and three other banks, and referring to themselves as the ‘syndicate of direct lenders to RITL’, alleged that the admission of
claims diluted the voting share of direct lenders to RITL within the committee of creditors (CoC).

The lawyers requested the tribunal not to allow the newly-formed CoC for Reliance Communications, RITL and Reliance Telecom to go ahead with any major decision. They requested that the tribunal allow the direct lenders’ syndicate, or the petitioners, to present their case at the earliest,

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