China Development Bank (CDB) has filed an insolvency petition against Reliance Communications (RCom) in the bankruptcy court to recover $1.78 billion, or about Rs 11,460 crore, it had lent to the Anil Ambani-owned telco. CDB moved National Company Law Tribunal (NCLT) on November 24.
Reliance Communications is India’s foremost and truly integrated telecommunications service provider.