FILE
PHOTO: A man opens the shutter of a shop painted with an
advertisement of Reliance Communications in
Mumbai
Thomson
Reuters
MUMBAI (Reuters) – China Development Bank (CDB), the biggest
foreign lender to India’s Reliance Communications Ltd (RCom) , on
Friday withdrew a petition seeking to drag the indebted telecoms
carrier into insolvency.
A lawyer for CDB told the National Company Law Tribunal that the
Chinese bank had filed to withdraw the petition. The tribunal
allowed CDB’s plea to go forward.
CDB, which is owed around $2 billion along with two other Chinese
banks, had filed the petition in November seeking insolvency
proceedin…
Read the full article at: http://www.businessinsider.com/r-chinas-cdb-withdraws-insolvency-petition-against-indias-rcom-2018-1
