InvestorQ : Why is Jio Networks transferring funds to the escrow account in Reliance Infratel case?
Rashi Mehra made post

Why is Jio Networks transferring funds to the escrow account in Reliance Infratel case?

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Archita Jajjoo answered.
2 weeks ago
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Jio Networks, the digital arm of the Reliance group, has agreed to deposit Rs3,720 crore into an escrow account for the acquisition of Reliance Infratel. This bid is for the tower and fibre assets of RCOM, which is part of the liquidated ADAG group. The delay in the deal is due to inter-creditor disputes and a slew of litigations among the banks. However, funds will be distributed to creditors only after the inter-creditor disputes are resolved.

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