The National Company Law Tribunal (NCLT) has upheld Doha Bank's plea seeking preferential payment for the financial creditors of Reliance Infratel, which will lead to recovery of about Rs 3,515 crore to the lenders, which is about the development. A source is aware.
The payment is to be made through the debt resolution process operated by NCLT to the amount of ₹ 4,400 crore received from the sale of assets to the Reliance Industries subsidiary.
According to the source, State Bank of India source will lead the list of creditors with a receipt of Rs 728 crore.
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