Mumbai based GTL Group companies repaid Rs 28,120 crore to lenders as of January this year – marking a key milestone in a 15-year restructuring cycle shaped by India’s telecom sector downturn and recent court rulings that quashed criminal investigations against the group entities. The repayments — made through internal cash flows, asset sales, equity conversion and negotiated settlements like OTS — followed years of restructuring triggered by industry-wide disruption after telecom license cancellations, operator exits and insolvencies among anchor tenants, top officials said.