Posted inChinaIndiaSouth Asia

India’s Reliance to settle China Development Bank debt

Troubled telecom company Reliance Communications, which has been weighed down by a debt of Rs 450 billion (about US$7 billion), claims it has reached an out-of-court settlement with China Development Bank (CDB) and other lenders. Company chairman Anil Ambani, the younger brother of India’s richest man Mukesh Ambani, said at a press conference on Tuesday that […]