Mumbai: Anil Ambani-run Reliance Infrastructure claimed that all the 16 lenders have signed the mandatory inter-creditor agreement for resolving its debt of around Rs 5,900 crore.
It can be noted that the RBI mandates only 75% of lenders by value and 60% 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.
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.
