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RCom lenders claim Rs 49,193-crore dues

China Development Bank, LIC and SBI have the highest exposure in the dues.

twitter-logo PTI        Last Updated: May 31, 2019  | 22:29 IST
RCom lenders claim Rs 49,193-crore dues

Financial creditors of Reliance Communications have submitted claims of over Rs 49,193 crore, which showed that China Development Bank, LIC and SBI have the highest exposure in the dues.

According to the list, Interim Resolution Professional (IRP) Pardeep Kumar Sethi has admitted claims of Rs 47,038.79 crore and the remaining amount has been put for verification.

Read More: Lenders to RCom, subsidiaries file claims of Rs 85,000 crore

The list showed that China Development Bank (CDB) claimed dues of Rs 9,863.89 crore and the IRP has admitted the entire claim.

The IRP also admitted full claims made by Life Insurance Corporation (Rs 4,758 crore), Exim Bank of China (Rs 3,356.44 crore), Standard Chartered Bank (Rs 2,130.23 crore), ICBC (Rs 1,832.89 crore), Syndicate Bank (Rs 1,225.19 crore), and Punjab National Bank (Rs 1,126.87 crore), among several others.

State Bank of India submitted a claim of Rs 4,905.37 crore but IRP admitted Rs 4,714.52 crore and set aside Rs 190.85 crore for verification. Among lead lenders, Bank of Baroda placed a claim of Rs 2,707.67 crore but IRP admitted Rs 2,531.87.

Details of operational and other creditors were not available in the note.

Anil Ambani-led RCom is under the corporate insolvency resolution process after it failed to pay dues of lenders and vendors.

Earlier this month, the National Company Law Tribunal allowed RCom to exclude the 357 days spent in litigation and admitted it for bankruptcy proceedings.

On May 24, RCom reported a consolidated net loss of Rs 7,767 crore in the fourth quarter of 2018-19 ended March 31.

Also Read: RCom creditors to meet today

Ericsson considers new clauses in biz deals to avoid RCom like situations

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