Tue, Jun 22, 2021
National Company Law Appellate Tribunal (NCLAT) has stayed distribution of Rs 4,400 cr of sale proceeds from Reliance Infratel (RITL) resolution plan. This is being seen as a major setback for the Chinese Banks consortium – China Development Bank, China Exim Bank and ICBC Bank.
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Thu, Jun 10, 2021
This comes after SBI has chosen to withdraw the fraud tag against RCom’s tower and fibre company, Rel Infratel Ltd.
Tue, May 29, 2018
Following the development, the Anil Ambani led firm today withdrew its petition from the National Company Law Appellate Tribunal (NCLAT) seeking permission to sell its tower and fibre assets.
Tue, May 02, 2017
RCom, in a BSE filing said, “The shareholders of Reliance Infratel Limited (RITL) – a subsidiary of Reliance Communication at their meeting held on April 29, 2017, have approved with 98% majority the scheme of arrangement for demerger of the tower division of the RITL into Towercom Infrastructure Private Limited (TIPL).”
Thu, Mar 23, 2017
RCom said, “CCI has approved the proposed transaction involving the sale of the tower division of Reliance Infratel Limited, a subsidiary of RCom, which is to be carried out pursuant to a demerger of the tower division to Towercom Infrastructure Private Limited (Towerco)."
Thu, Dec 22, 2016
Moody feels there is still lack of clarity on the cash flow generating capabilities of some of Rcom's remaining businesses, as the resulting leverage or cash flow positions following its restructuring can only be estimated within wide bounds.
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