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Lenders agree to RNTL-Reliance Industries' takeover deal: Report

Two years after the deal was approved by the NCLT, banks led by the State Bank of India (SBI) have agreed to issue a no objection certificate (NOC) to Mukesh Ambani-owned Reliance Industries

Anil Ambani
Premium

BS Web Team New Delhi
Lenders of Reliance Infrastructure Telecommunications Ltd's (RITL's) have come to an understanding with the winning bidder, Reliance Projects & Property Management Services, for the bankrupt firm after the completion of the takeover deal, reported The Economic Times on Thursday.  
 
Two years after the deal was approved by the National Company Law Tribunal (NCLT), banks, led by the State Bank of India (SBI), have agreed to issue a no objection certificate (NOC) to Mukesh Ambani-owned Reliance Industries (RIL), whose subsidiary is Reliance Projects & Property Management Services, the winning bidder of the RITL's takeover, the ET report stated.
 
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