Business Standard

Lenders plan to put Reliance Communications HQ in Navi Mumbai on sale

Indian lenders had sent the company, earlier owned by Anil Ambani, for debt resolution in May 2018

Reliance
Premium

Dev Chatterjee Mumbai
The Committee of Creditors of the bankrupt Reliance Communications is planning to put the company’s headquarters in Navi Mumbai on sale after its debt resolution under the Insolvency and Bankruptcy Code failed to make any progress due to the ongoing litigation.

The CoC is planning to set up a committee consisting of two lenders and the resolution professional to identify the buyer. The CoC is not calling it a liquidation of assets as an earlier proposal to sell the company to UV ARC is still pending in court, said a source close to the development. The lenders are expecting up

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in