InvestorQ : What is happening to the RCOM resolution and when will the banks get back their money from the company?
sarah Leo made post

What is happening to the RCOM resolution and when will the banks get back their money from the company?

Answer
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vidhya Laxmi answered.
7 months ago


SBI, the leader of the consortium that lent money to RCOM, approved the resolution plan for the lenders of RCOM. Lenders, in all, will get around Rs.23,000 crore as against secured debts in excess of Rs.33,000 crore. NCLT has received total claims for RCOM to the tune of Rs.49,000 crore and this includes the operating creditors also. These operating creditors rank behind the secured creditors in the NCLT waterfall. The insolvency petition against RCOM was triggered by Ericsson, which could not recover its dues from RCOM. In the past, RCOM had tried to separately sell the group assets without much success. This is should bring a lot of stuck money back, although the timelines may be hard to predict.