Reliance Industries Ltd.

Reliance Industries’ (RIL) telecom arm -- Reliance Jio Infocomm (Jio) has proposed to deposit Rs 3,720 crore in an escrow account to complete the acquisition of Reliance Infratel which is undergoing liquidation process. Delay in acquisition of Reliance Infratel assets due to inter-creditor disputes will deteriorate the value of assets. In order to avoid any further delays, the applicant proposes to deposit the total resolution amount in an account with State Bank of India as was directed by this hon’ble tribunal in the plan approval order.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.