New Delhi. State Bank of India (SBI), the largest public sector bank, has given big relief to industrialist Anil Ambani by filing an affidavit in favor of the debt-ridden company Reliance Infratel. State Bank of India has filed an affidavit in the National Company Law Tribunal (NCLT) to withdraw the fraud charges against Reliance Infratel, a unit of Anil Ambani’s Reliance Communications.
Reliance Infratel is the telecom tower unit of Reliance Communication, which has a deal with Anil Ambani’s elder brother Mukesh Ambani’s company Jio. Jio has a deal with Reliance Infratel for a total of Rs 4,000 crore. Experts say that if the allegations of fraud filed against Reliance Infratel in the National Company Law Tribunal persist or the matter drags on in the National Company Law Tribunal, then the deal to buy Mukesh Ambani’s company Jio younger brother Anil Ambani’s company Reliance Infratel. can back away. Due to this, banks hoping to recover the huge loans stuck in Reliance Infratel may also get a setback.
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Experts say that Reliance Infratel is loaded with many bank loans, but Anil Ambani, who is facing all-round loss, is unable to repay this loan. In such a situation, if the deal of Reliance Infratel with Jio is completed, then only the money of the banks trapped in this company will be recovered. Keeping this in mind, State Bank of India is believed to have filed an affidavit in the National Company Law Tribunal to withdraw the allegation against Reliance Infratel.
It is being told that due to the allegation of fraud against Reliance Infratel, the process of resolution of this company in the National Company Law Tribunal may also slow down. This can make it more difficult for banks to recover their money. This is the reason why the group of banks led by State Bank of India has made up its mind to withdraw the allegations against Reliance Infratel, so that the deal of Reliance Infratel with Jio comes into force as soon as possible and their stranded money will also be recovered. Let there be recovery.
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