Supreme Court Restores SBI Consortium's Financial Creditor Status in Reliance Infratel
The Supreme Court has ruled that an SBI-led bank consortium qualifies as financial creditors in the Reliance Infratel insolvency case, overturning orders from both the NCLT and NCLAT that had stripped them of that status. Financial creditors hold voting rights on the Committee of Creditors, giving them direct control over resolution plan approvals.