RCom surges 11% after NCLAT fixes hearing against NCLT order for Tuesday

Reliance Naval, Reliance Power, Reliance Capital, Reliance Infra and Reliance Nippon Life were other stocks from the ADAG, up in the range of 3% to 10% on the BSE.

Shares of Reliance Communications (RCom) have moved higher by 11% to Rs 15.85 per share on the BSE in noon deal after the company said that the National Company Law Appellate Tribunal (NCLAT) fixed the appeals against the National Company Law Tribunal (NCLT) orders for hearing tomorrow i.e. Tuesday, May 29, 2018.

“The appeals filed in the Hon'ble NCLAT against the NCLT orders admitting RCom, Reliance Infratel and Reliance Telecom to the debt resolution process and appointment of the Interim Resolution Professional, were mentioned for urgent hearing today,” RCom said in a BSE filing.

The Hon'ble NCLAT has