2 June 2020: An estimated Rs 20,000 crore worth of bad loans from state-run banks are up for sale to asset reconstruction companies as banks prepare for a fire sale due to suspension of the bankruptcy law which has blurred… Read More ›
Reliance Communications
FE: Reliance Communications RP wants status quo to be maintained on spectrum licences
20 September 2019: Deloitte, the resolution professional (RP) to Reliance Communications (RCom), has filed an application in the National Company Law Tribunal seeking a direction to the Department of Telecommunications (DoT) that status quo be maintained on spectrum licences, and… Read More ›
ET: NCLAT asks RCom to approach NCLT for Rs 577 crore refund from Ericsson
18 September 2019: The NCLAT on Wednesday declined RCom’s resolution professional’s plea seeking refund of Rs 577 crore from Swiss firm Ericsson, and directed the RP to approach the Mumbai-bench of NCLT for the same. Reliance Communications is presently going… Read More ›
ET: RCom may approach NCLAT for Rs 577 crore refund from Ericsson
18 September 2019: Reliance Communications is set to approach the appellate tribunal in a bid to get Swedish telecom equipment maker Ericsson to refund Rs 576.77 crore paid by the bankrupt telecom operator, a person familiar with the matter said…. Read More ›
BBG: India’s Reliance Communications’ Unit GCX Files for Bankruptcy
16 September 2019: A unit of Reliance Communications Ltd., Anil Ambani’s distressed telecom firm, has filed for bankruptcy protection. GCX Ltd., which owns the world’s largest private undersea cable system, is the latest company owned by the tycoon to stumble…. Read More ›
ET: RCom RP can’t demand ₹576-cr refund: Ericsson
5 September 2019: Telecom equipment maker Ericsson has said Reliance Communications’ resolution professional has no right to seek a refund of Rs 576.77 crore paid to the Swedish company under the Supreme Court’s directions. “Without prejudice to our rights and… Read More ›
ET: RCom lenders may get only Rs 10k cr against Rs 49k-cr claims
2 September 2019: The assets of Reliance Communications (RCom) and its two units, including spectrum and towers, are expected to fetch ₹9,000- ₹10,000 crore, people familiar with the matter said, likely leaving financial lenders staring at a steep haircut given… Read More ›
FE: Reliance Communications committee of creditors to meet today
27 August 2019: The committee of creditors (CoC) of Reliance Communications (RCom) will hold their sixth meeting on August 27, according to a BSE notice. Ericsson had dragged RCom to insolvency and bankruptcy proceedings in September 2017 over non-payment of… Read More ›
ET: SC stays appellate tribunal’s order in RCom OTSC Case
20 August 2019: The Supreme Court on Monday stayed an appellate tribunal’s order which had stalled the telecom department’s demand for Rs 2,000 crore from Reliance Communications (RCom) as one-time spectrum charges (OTSC), an order which may have wider ramifications… Read More ›
LM: Two RCom promoters pledge additional 11.5% stake
17 August 2019: Two promoter entities of Reliance Communications (RCom) have pledged 11.5% more stake in favour of Axis Trustee Services, according to regulatory filings. Reliance Communications Enterprises and Reliance Telecom Infrainvest on August 16 pledged about 11.51% of their… Read More ›
