Reliance Digital Platform and Project Services, a subsidiary of Reliance Industries Limited (RIL) may have to pay to Rs 49.75 billion to take over Reliance Infratel as per the order of the National Company Law Tribunal (NCLT) that cleared Infratel’s resolution plan recently.
According to the order, Reliance Digital has proposed to pay Rs 37.20 billion for Reliance Infratel. The money will be distributed among the lenders to Reliance Infratel.
Besides this, the lenders are likely to get another Rs 8 billion from the sale of a land parcel held by Reliance Realty, which is also part of Reliance Group. However, in case Reliance Realty fails to get Rs 8 billion for the land, the resolution applicant will purchase it for the same amount and distribute the amount to the lenders on a pro-rata basis.