MUMBAI: In a sign of support to Anil Ambani owned Reliance Communications (Rcom), lenders to the telecom operator have opposed China Development Banks insolvency filing to recover its $1.78 billion.
At a committee of creditors meeting on 29 November 2017, a majority of Reliance Communications lenders, foreign and Indian, aggregating 31, decided to oppose China Development Banks (CDB) insolvency petition against RCOM before the National Company Law Tribunal (NCLT), Mumbai, said the Ambani owned telco in a statement on Thursday.
The lenders also decided to appoint J Sagar Associates as their legal counsel to oppose the said CDB petition at the admission stage itself, the operator added.
CDB accounts for 37.11% of RComs total secured d…
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