Plan to demerge towers withdrawn: RCom to NCLT

Application for withdrawal of the said merger scheme has been filed with NCLT on 3rd Oct

Reliance Communications Ltd today said application for withdrawal of scheme of demerger of tower business under RITL been filed on 3rd October.

As announced in the media release by the company on 1st October and for reasons already stated, the merger agreement for the combination of RCOM's wireless business with Aircel has been allowed to lapse with mutual consent. 

Pursuant to the same, application for withdrawal of the said merger scheme has been filed with National Company Law Tribunal (NCLT) on 3rd October. 

Furthermore, as a consequence, the application for the withdrawal of the scheme of the demerger of the tower business under RITL has also been concurrently filed as on 3rd October.