Anil Ambani-promoted Reliance Infrastructure (RInfra) on Thursday said its lenders had entered into an inter-creditor agreement (ICA) to implement a debt resolution plan within six months. The announcement led to a rally in RInfra shares, which surged about 11 per cent to close at 51.05 on the BSE.
“RInfra’s 16 lenders have signed the ICA. In accordance with the Reserve Bank of India’s (RBI’s) circular of June 7, 2019, 100 per cent of its lenders have signed the ICA for the resolution of RInfra’s debt,” the company said in a statement. “RInfra has now achieved standstill for 180 days. According to the RBI circular, the resolution plan is to be implemented within 180 days.”
