Lenders to Anil Ambani's RITL, RIL reach takeover deal

Banks led by the State Bank of India (SBI) have agreed to issue a no objection certificate (NOC) to RIL following which the Mukesh Ambani-promoted company will transfer the agreed amount to an escrow account. The NOC essentially is a no dues certificate for RITL, a procedure followed before the implementation of the resolution plan.

from Banking/Finance-Industry-Economic Times https://ift.tt/MTaH6Pq