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SC rejects operational creditors' challenge to Reliance Infratel resolution plan

Mint  

The Supreme Court has rejected the challenge of operational creditors on the approval of the resolution plan of Reliance Infratel Ltd by the National Company Law Tribunal (NCLT), saying the plan has been duly approved by a requisite majority of the Committee of Creditors (CoC) in conformity with the Insolvency and Bankruptcy Code (IBC). The SC bench said that exclusion of some of the financial creditors from the CoC is of no consequence as the plan has been approved by a 100% voting share of the CoC.