Chinese banks may get Rs. 7,000 crore from 3 Anil Ambani Firms

TIL Desk/Business/Mumbai/ Chinese Banks are slated to get 30 per cent or Rs 7,000 crore from Reliance Communications, Reliance Telecom and Reliance Infratel resolution plan, while the telecom department may be left with no proceeds coming its way in the current scheme of things, a source said.

The National Company Law Tribunal (NCLT) Mumbai is scheduled to hear the resolution plan of RCOM, RTL and RITL on Friday, the source added.

Chinese banks — China Development Bank, China Exim Bank and Industrial and Commercial Bank of China (ICBC) — will get a lion share of 30 per cent or Rs 7,000 crore in RCOM/RTL/RITL resolution plan, with the DoT getting nothing if the proposed plan goes ahead, banking sources noted.

The Committee of Creditors (COC) has decided to give nothing to the DoT out of the total proceeds of Rs 23,000 crore from resolution plan, as the department is being considered as an operational creditor.