ICICI sees risk of losing RCom case of Rs 210 cr in preferential payment

Indian lender says resolution professional for bankrupt telecom company has made claims which have a 'likelihood' of succeeding.

ICICI bank sees the "possibility" of losing a case filed by the resolution professional (RP) of Anil Ambani’s bankrupt telecom company, Reliance Communication, for alleged preferential payment of Rs 210 crore received by the private lender as repayment of debt. 

“As per the opinion letter obtained by the external counsel, the likelihood of the claim (Rs 210 crore) succeeding against ICICI Bank in this matter is classified as “possible,” the Indian lender told USA's Securities Exchange Commission (SEC).

Legally, a case classified as "possible" means having a probability or moderate chance of future event or events occurring. It is a