With lenders approving a Rs 23,000 crore resolution plan for Reliance Communication, as much as Rs 5,500 crore will flow to Chinese banks, clearing about 55 percent of their principal dues, including of those lenders to whom firm's promoter Anil Ambani had allegedly given a personal guarantee
RCom creditors approve Rs 23,000 cr asset sale plan to highest bidders Jio, UV Asset Reconstruction Company: Report
Under the plan, 38 lenders of RCom can recover over 70 percent of their outstanding of Rs 33,000 crore secured debt
RCom creditors panel to vote on Rs 23,000-cr resolution plans on 24 February; loans of Chinese lenders to reduce by nearly 65%
RCom's secured debt is estimated to be around Rs 33,000 crore. Lenders submitted claims of around Rs 49,000 crore in August.
Debt refinancing loan case: UK High Court to set terms in Chinese banks' claim against RCom chief Anil Ambani
According to court documents, RCom had sought the loan from the Chinese banks in order to meet its obligations under certain foreign currency convertible bonds due to mature on 1 March 2012.
TDSAT had on 21 December 2018 directed the Centre to return around Rs 104 crore to RCom after encashing bank guarantee of Rs 908 crore against spectrum charges of Rs 774 crore.
Bharti Airtel, Reliance Jio, Varde Capital and UV Asset Reconstruction Company have submitted bids to buy assets of debt-ridden RCom
UK court dismisses Chinese bank plea for conditional order in $680 mn claim against RCom chief Anil Ambani
The hearing in the matter took place on 7 November and the order was issued on Monday, a spokesperson for Anil Ambani said in a statement.
UK High Court has dismissed a $680 million claim application filed by Chinese banks against Reliance Communications Chairman Anil Ambani, a spokesperson of Ambani said on Monday
Shares of Reliance Communications hit their upper circuit for the sixth consecutive session on Friday amid reports that Bharti Airtel has submitted conditional bids of around Rs 9,500 crore for the assets of the debt-ridden firm
Bharti Airtel submits conditional bids of around Rs 9,500 crore for debt-ridden RCom' telecom assets
I Squared Capital, which was expected to buy RCom's data centre and optical fibre, also did not submit bids.
Airtel, Reliance Jio submit bids for debt-ridden RCom telecom assets; Committee of Creditors to meet today
RCom's secured debt is estimated to be around Rs 33,000 crore. Lenders have submitted claims of around Rs 49,000 crore in August.
Reliance Communications Chairman Anil Ambani along with four directors have resigned from the company, which is going through insolvency process,
In a first, Anil Ambani threatened with class action suit at AGM after massive erosion of wealth, frequent rating downgrades irk shareholders
"If I do not get satisfactory replies to my questions, in the next two-three months I will file a class action suit against RPower," a shareholder warned Anil Ambani.
In a first, RCom AGM to be chaired by resolution professional today; firms in diversified group to hold their AGMs
RCom itself sought bankruptcy early February after its efforts to sell spectrum to Reliance Jio failed due to regulatory delays
NCLAT asks RCom to approach NCLT for Rs 577-cr refund from Ericsson, allows resolution professional to appeal in case of adverse order
Reliance Communications (RCom) is presently going through the Corporate Insolvency Resolution Process under the supervision of the Mumbai-bench of National Company Law Tribunal.
Anil Agarwal's Twin Star Tech not to bid for debt-ridden RCom's assets; to make formal announcement soon
RCom lenders have claimed dues of around Rs 49,000 crore on the company till May 2019.
Reliance Jio, Airtel likely to bid for RCom's physical assets; firms not keen to buy spectrum held by telco
NCLT in May superseded RCom board and appointed a resolution to run the company and also allowed the SBI-led consortium of 31 banks to form a committee of creditors.
The National Company Law Appellate Tribunal on Tuesday dismissed a contempt petition filed against Reliance Group Chairman Anil Ambani and other officials by minority shareholders alleging non-payment of dues by Reliance Infratel
The National Company Law Appellate Tribunal (NCLAT) on Wednesday reserved its order over the admission of a contempt petition filed against Reliance Group Chairman Anil Ambani and its other officials by minority shareholders alleging non-payment of dues by Reliance Infratel
The country's telecom subscriber base grew marginally to 1,183.77 million in April on account of net mobile customers gain by Reliance Jio and state-run telecom firm BSNL, according to the Telecom Regulatory Authority of India's (TRAI) report released on Monday