RInfra claims 100% lenders have signed agreement for resolving debt

Anil Ambani-run Reliance Infrastructure 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 percent of lenders by value and 60 percent of them by the number to sign the inter-creditor agreement for a resolution plan.

“As per the June 7 Reserve Bank circular, 100 percent 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 as review period.