China bank files insolvency suit against Reliance Communication

Reliance Communication (RCom) is facing new trouble as China Development Bank has filed insolvency case on the Anil Ambani owned already a debt-ridden company, before the National Company Law Tribunal (NCLT) Mumbai bench. However, according to the banking sources, Indian lenders are working on a resolution plan for the insolvency case and they might oppose the China Bank’s claim in front of NCLT.