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Claims against RCOM rise to Rs 573.82 billion; Reliance ADAG among claimants

June 18, 2019
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According to a regulatory filing, claims against Reliance Communications (RCOM) have increased to Rs 573.83 billion with Reliance Anil Dhirubhai Ambani Group (ADAG) companies, joining the creditors' list.

However, as per the filing, the Interim Resolution Professional (IRP) has admitted dues of Rs 0.3 billion out of the fresh claims of Rs 81.89 billion, taking the admitted claims so far to Rs 492.23 billion.

Reliance ADAG companies accounts for nearly Rs 70 billion of fresh claims against RCOM. The fresh claims except for admitted dues have been put for verification.

The claims of creditors like China Development Bank (CDB) worth Rs 98.64 billion, Life Insurance Corporation worth Rs 47.58 billion, Exim Bank of China worth Rs 33.56 billion, Standard Chartered Bank worth Rs 21.3 billion, ICBC worth Rs 18.33 billion, Syndicate Bank worth Rs 12.25 billion, and Punjab National Bank worth Rs 11.27 billion, among others have been fully admitted be the IRP. Further, partial claims of State Bank of India and Bank of Baroda have been admitted, with the rest set aside for verification.

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