Lenders of Reliance Infrastructure have reached an agreement which grants the Anil Ambani-company a standstill period of 180 days during which it will have to implement a resolution plan.

The company on Thursday announced that 16 lenders had signed the inter-creditor agreement (ICA).

According to the framework announced by the Reserve Bank of India (RBI) last month, 75 per cent of the lenders by value and 65 per cent of them by number have to sign such an agreement for a resolution plan.

Reliance Infrastructure added that all the 16 lenders had signed the agreement. At the company level, Reliance Infrastructure has a debt of around Rs 5,900 crore.

“According to the June 7 Reserve Bank circular, 100 per cent of our lenders have signed the inter-creditor agreement for resolution of our debt,” Reliance Infrastructure said.

The circular had said that if a borrower defaults to any of the lenders, others will have to review the account within

30 days from the default — which is called the review period. During this review period, banks may decide on a resolution plan. Wherever a plan has to be implemented, all lenders will have to enter into ICA to finalise and implement the resolution plan.

“We are confident of implementing the resolution plan well before the 180-days deadline based on advanced progress of our various asset monetisation initiatives,” the company said.

Reliance Infrastructure has already announced the sale of the Delhi-Agra toll road for an enterprise value of Rs 3,600 crore. With this single deal, its debt will come down by 25 per cent to just over Rs 4,000 crore, Reliance Infrastructure said.

It is also planning to monetise 7 lakh sq ft of its group headquarters, Reliance Center, in suburban Santacruz.

Earlier this month, the company had said while it would continue to own the premises; the monetisation would be by way of a long-term lease.