As per report insolvency proceedings currently underway at the National Company Law Tribunal of reliance Communications (RCom) may see some direction, with bids being submitted for the assets the company owns. Furthermore against the total claim of debts to the tune of Rs 49,000 crore received by the resolution professional, the assets have reportedly been estimated to be around Rs 33,000 crore. 

Furthermore Airtel had submitted a bid earlier, but later withdrew when it was announced that the deadline for submission has been extended by 10 days.  Perhaps bidders apart from Airtel are reliance industries, Varde Partners and UV Asset Reconstruction Company (UVARC). Hence there are expected to be at least nine bids in all for the assets held by the different companies RCom, Reliance Telecom (RTL) and reliance Telecom Infrastructure (RTIL). This is because each of the four companies is expected to submit separate bigs for each company.

Moreover the Committee of Creditors of RCom is likely to open the bids on december 2, the last day for submission of the bids. NCLT has allowed the RP time till january 10, 2020 to complete the process. Apparently the assets include the spectrum licence, the tower infrastructure and the cabling infrastructure. RCom’s Data Centres and Optic Fibre assets alone are sought to be acquired by a bidder, private equity firm I Squared Capital.

మరింత సమాచారం తెలుసుకోండి: