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Wireless

Indian tribunal allows RCom to proceed with asset sales to Jio, Brookfield

Thursday 31 May 2018 | 07:18 CET | News
Reliance Communications (RCom) announced that the National Company Law Appellate Tribunal (NCLAT) has stayed the orders of the National Company Law Tribunal (NCLT) in Mumbai putting RCom, Reliance Infratel and Reliance Telecom under bankruptcy protection. RCom's management and board of directors have been reinstated following this order. As a result, RCom's asset sale to Reliance Jio and Brookfield for INR 181 billion has been allowed to proceed by the NCLAT. The assets sale includes spectrum, fibre, telecom towers, MCNs and certain real estate assets in Delhi and Chennai. 

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Categories: Mobile & Wireless
Companies: Infratel / RCom / Reliance Communications / Reliance Jio
Countries: India
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