NCLT okays resolution plan for Reliance Infratel; may entail sale of assets

Decks cleared for sale of tower, fibre assets to Reliance Digital

The National Company Law Tribunal (NCLT) in Mumbai has approved a resolution plan for Reliance Infratel, which sources say entails the sale of its tower and fibre assets with some minor riders. As part of the plan, which was passed in March by all the members of the Committee of Creditors (CoC) led by the State Bank of India (RBI), Reliance Digital Platform, a group firm of Reliance Jio, will pay around Rs 3,720 crore for the deal.

Reliance Digital Platform was the highest bidder for the stressed assets. Reliance Jio declined to comment.

According to sources, the Tribunal cleared the Reliance