Reliance Infrastructure resolution
Lenders of Reliance Infrastructure have reached an agreement which grants the Anil Ambani-company a standstill period of 180 days during which it will have to implement a resolution plan.
The company on Thursday announced that 16 lenders had signed the inter-creditor agreement (ICA).
According to the framework announced by the Reserve Bank of India (RBI) last month, 75 per cent of the lenders by value and 65 per cent of them by number have to sign such an agreement for a resolution plan.
Reliance Infrastructure added that all the 16 lenders had signed the agreement. At the company level, Reliance Infrastructure has a debt of around Rs 5,900 crore.
