Chinese banks ask India to expedite Reliance Infratel bankruptcy process

Three lenders have combined exposure of Rs 13,483 cr in the troubled firm; express concern that despite tight deadlines mentioned in IBC, debt resolution is far from over

China Development Bank, Export Import Bank of China, and SC Lowy Asset Management, with a combined exposure of Rs 13,483 crore in bankrupt Reliance Infratel, have written to the Indian government to expedite the debt resolution process of the company which was initiated in May 2018.

In a communication to the Indian finance ministry and the Insolvency and Bankruptcy Board of India (IBBI), the lenders have expressed their concern that despite tight deadlines mentioned in the Insolvency and Bankruptcy Code, 2016, the debt resolution of Reliance Infratel is far from over which is leading to a massive loss to all