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Reliance Communications, Reliance Telecom lenders to discuss resolution plan

Updated : February 25, 2020 07:03 AM IST

Lenders to three Anil Ambani group companies  -- Reliance Communications, Reliance Telecom and Reliance Infratel -- will meet on Monday to discuss the resolution plan, sources told CNBC-TV18.

Earlier, CNBC-TV18 reported that Reliance Jio had been declared the highest bidder for Reliance Infratel while UV Asset Reconstruction has put both Bharti Airtel and Varde Partners to be declared the highest bidder for Reliance Communications as well as Reliance Telecom.

Against dues of over Rs 45,000 crore, lenders are hopeful of recovering almost Rs 23,000 crore which is over 51 percent recovery across these three companies. In the meeting, the distribution of dues between the bankers is going to be discussed and the final voting on the plans is likely by early March.
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