INSUBCONTINENT EXCLUSIVE:
Anil Ambani's Reliance Communications on Monday released list of financial creditorsChinese lenders, including China Development Bank,
Industrial and Commercial Bank of China and Exim Bank of China, have demanded at least $2.1 billion from embattled tycoon Anil Ambani's
Reliance Communications Ltd., that slid into bankruptcy earlier this year.State-owned China Development Bank, with loans worth Rs 9,860
crore ($1.4 billion) was the biggest creditor to the indebted telecom company, according to a filing made by the Indian company to stock
Exim Bank of China sought payment of Rs 3,360 crore, while Industrial and Commercial Bank of China claimed Rs 1,554 crore, according to the
filing.India's bankruptcy court is hearing lenders, and the former billionaire's telecom firm as it attempts to find buyers for the
company's assets and pay debt
Anil Ambani's older sibling and Asia's richest man Mukesh Ambani's Reliance Jio Infocomm Ltd
had earlier offered to purchase RCom's assets in a Rs 17,300-crore deal, which would have helped partly pay off lenders
The deal fell through after encountering regulatory hurdles.Mukesh Ambani had in March helped his younger brother avert the risk of being
jailed by making an $80 million payment on his behalf to the local unit of Ericsson AB for past maintenance services.Following is a list of
Reliance Communication's top seven lenders as of June 13
Chinese banks account for about one-fourth of the total claims.Reliance Communications on Monday released list of financial creditors that
are claiming Rs 57,382 crore under bankruptcy proceedings.Investment bank VTB Capital of Russia has also featured in the list with a claim
of Rs 511 crore while Standard Chartered Bank (London), Deutsche Bank (Hong Kong), DBS Bank and Emirates NBD Bank are among other foreign
institutions in the financial creditors chart.
