Telco Company Accused of Fraud by HPS Seeks to Subpoena Vendor

The chief restructuring officer for Broadband Telecom, a company that has been accused of fraud by lenders including HPS Investment Partners, is seeking court approval to initiate an examination into a key Indian vendor with links to the founder and owner of the bankrupt firm.

Bankai Infotech Limited. — which shares its name with the parent company of Broadband Telecom, Bankai Group — has access to the bankrupt company’s servers and keeps records including emails and customer data for it under an outsourcing agreement, according to court dated Wednesday.