"Lenders have approved sale of real estate assets RCom holds in Delhi and Chennai for Rs 801 crore to Brookfield," a source said on condition of anonymity. Brookfield is Canada-based asset management firm.
When contacted RCom declined to comment on the development, while email query sent to Brookfield elicited no reply. The proceeds will be used for retiring debts, the source said. RCom is reeling under Rs 45,000 crore debt. On June 22, RCom had started the process to sell its real estate assets after it got seven month reprieve from banks to service the debt. The company was expected to receive Rs 11,000 crore from Brookfield.