Reliance Communications

Will hold auction to sell 56-acres of prime real estate in Navi Mumbai, expect higher valuation due to construction of new airport in the vicinity

Indian lenders had sent the company, earlier owned by Anil Ambani, for debt resolution in May 2018

Reliance Communications, then owned by Anil Ambani, had to shut down its business operations as a result of its high debt burden and a failed merger with Aircel

Two years after the deal was approved by the NCLT, banks led by the State Bank of India (SBI) have agreed to issue a no objection certificate (NOC) to Mukesh Ambani-owned Reliance Industries

The proceeds of the sale of these two companies in future will flow directly to the lenders of the Reliance Capital which is currently undergoing a bankruptcy process

While the RBI is now planning to allow ARCs to bid for bankrupt companies, RCom's resolution is now stuck in courts

RBI panel recommends that ARCs be allowed to bid for bankrupt firms

According to an official, clauses under the license agreement empower the government to terminate the licence of the company

Analysts attribute sudden interest in ADAG stocks to the anticipation of the company becoming more proactive and aggressive to prune its debt obligations

ICICI Lombard General Insurance Company reported 23 per cent YoY rise in net profit at Rs 346 crore for March quarter 2020-21

Debt resolution only after clearance of govt dues, says tribunal

Revenue garnered from 4G auction may be much lower than reserve price set at Rs 3.92 trillion

Debt-ridden telecom firm Reliance Communications said the group owes around Rs 26,000 crore to Indian banks and financial institutions

Decks cleared for sale of tower, fibre assets to Reliance Digital

Insolvency against bankrupt telecom company and two arms restarted last May after NCLAT lifted stay on proceedings; Rs 91,000 crore worth claims have been admitted against the firm.

Three state-controlled Chinese banks have pursued Ambani for more than $700 million in a London court

While the personal guarantee matter is being heard by the SC, the fate of dues worth Rs 45,000 crore, including to the Chinese banks, will be decided by the NCLT where the matter is still pending

Experts see the telecom sector heading towards duopoly

CEO asked to furnish personal guarantee within four weeks; order alarms professional managers

Ambani had given personal guarantees for the Rs 565 crore and Rs 635 crore SBI loans to RCom and Reliance Infratel (RITL), respectively, in August 2016