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In a first, RCom AGM to be chaired by resolution professional today; firms in diversified group to hold their AGMs
FirstpostRCom itself sought bankruptcy early February after its efforts to sell spectrum to Reliance Jio failed due to regulatory delays Mumbai: In what is probably the first for any major corporate, a resolution professional will chair and address the shareholders of the Anil Ambani-run bankrupt Reliance Communications at the annual meeting with shareholders here on Monday. RCom is presently going through an insolvency process and the National Company Law Tribunal had in July appointed Aneesh Nanavati of Deloitte as the resolution professional. RCom itself sought bankruptcy early February after its efforts to sell spectrum to Reliance Jio failed due to regulatory delays. It can also be noted that it was RCom itself that had created troubles for Anil Ambani in the recent past, with regard to its dues to Ericsson, which had successfully sought Supreme Court’s intervention to make the company pay Rs 577 crore.
History of this topic
AGR case: SC seeks details of spectrum users of bankrupt telcos
Live Mint)
RCom creditors panel to vote on Rs 23,000-cr resolution plans on 24 February; loans of Chinese lenders to reduce by nearly 65%
Firstpost)
Anil Ambani inducts sons Anmol, Anshul on Reliance Infra board as directors; retd Lt Gen Syed Alta Hasnain too joins board
Firstpost)
RIL AGM 2019: Mukesh Ambani’s promise of zero net-debt firm in next 18 months is music to ears of shareholders
Firstpost
Anil Ambani's RCom's bankruptcy begins as NCLT allows firm to exclude 357 days spent in litigation; next hearing on 30 May
Firstpost
RCom looks to real estate assets, Jio deal to pay Ericsson dues of Rs 453 cr after Supreme Court order
Firstpost)
Anil Ambani-led Reliance Group reaches standstill pact with lenders, no sale of pledged shares till September
Firstpost
Reliance Communications stock sinks by more than half to a record low as firm asks NCLT to resolve debt
Firstpost
RCom caps borrowing limit to ₹50,000 crore
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