The National Company Law Tribunal (NCLT) has granted approval to the resolution plan for Reliance Communications Infrastructure Limited (RCIL), a subsidiary of the insolvent Reliance Communications Limited. The endorsed plan was submitted by Reliance Projects and Property Management Services Limited, selected by the Committee of Creditors during their meeting on August 5, 2021. Subsequently, the resolution professional of RCIL filed
Reliance Capital (RCap) has postponed its second auction to April 11, 2023, following the confirmation of three suitors for participation, including IndusInd International Holdings Ltd (IIHL) of the Hinduja Group, Torrent Investment, and Singapore-based Oaktree. The lenders of RCap had initially set April 4 as the date for the second auction, but the date was rescheduled after the additional bidders
The National Company Law Appellate Tribunal (NCLAT) ruled in favour of Doha Bank on September 9. The Qatar-based bank had pleaded that the resolution professional (RP) should not admit claims from the Exim Bank of China, Assets Care and Reconstruction Enterprises (ACRE), Shubh Holdings and China Development Bank. The four entities are likely to challenge this order at the Supreme
The Supreme Court on Monday issued notices to the Future Group and the Competition Commission of India on a plea by Amazon against the June 13 NCLAT’s order which upheld the decision to keep share subscription agreement (SSA) between Amazon and Future private limited. A bench of justices put the matter for detailed consideration on September 19. The court issued
Reliance Industries stated that it has received necessary approval from the National Company Law Tribunal for its plans to repurpose and restructure its gasification assets. The company received approval from both NCLT Mumbai bench and Ahmedabad bench for the scheme. Both NCLT Mumbai and Ahmedabad benches approved the scheme on March 30,2022. Appointed date of the scheme is March 31.
The National Company Law Tribunal (NCLT) MUMBAI has allowed Reliance Industries to withdraw its proposal to demerge its oil-to-chemicals (O2C) business, which effectively rings down the curtain on a two-year-old saga surrounding the Mukesh Ambani-owned. company’s relentless pursuit of an investment deal with Aramco of Saudi Arabia. The Ambanis have been in negotiations with Aramco since the middle of 2019
