Anil Ambani-run Reliance Infrastructure on Thursday claimed that all the 16 lenders have signed the mandatory inter-creditor agreement for resolving its debt of around Rs 7,500 crore.
It can be noted that the RBI mandates only 75 per cent of lenders by value and 60 per cent of them by the number to sign the inter-creditor agreement for a resolution plan.
“As per the June 7 Reserve Bank circular, 100 per cent of our lenders have signed the inter-creditor agreement for resolution of our debt,” Reliance Infrastructure’s said in a statement Thursday.
According to the new circular, if a borrower defaults to any of the lenders, others will have to review the account within 30 days from the default, called a review period.
