Chinese bank files insolvency plea against Reliance Telecom
China Development Bank has initiated insolvency proceedings against a second Anil Ambani-promoted firm Reliance Telecom at the National Company Law Tribunal. The bank sought to club insolvency pleas initiated by other creditors of Reliance Telecom so that these matters could be heard together. Reliance Telecom is a subsidiary of RCom which already has four insolvency cases pending at the NCLT.