You are here: Home » Companies » News
Business Standard

SC vacates HC stay, RCom's secured lenders can go ahead with asset sale

The National Company Law Tribunal had halted RCom from selling any asset without its permission

Reuters 

Debt-laden telecoms firm Reliance Communications Ltd (RCom) said on Thursday that Supreme Court has lifted a ban on sale of its assets, and has ordered secured lenders to proceed with the sale. RCom also said it will file an appeal before the National Company Law Appellate Tribunal (NCLAT) on Friday. The company is "confident of securing appropriate relief from the NCLAT to enable sales of tower and fibre assets to also be completed at the earliest," it said in a statement. The National Company Law Tribunal had prevented RCom from selling any asset without its ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, April 05 2018. 16:45 IST
RECOMMENDED FOR YOU