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Anil Ambani led Reliance Communications is now headed for bankruptcy court. Anil Ambani has taken all possible measures for repayment of Reliance Communications Rs 46,000 crore debt. Now, RCom will be handled by NCLT  professionals to bring an insolvency resolution. At around 1314 hours, share price of RCom has plunged by a whopping 32.93% or Rs 3.82, trading at Rs 7.78 per piece on BSE. However, RCom shares at one time even clocked a new all-time low of Rs 6, resulting in overall drop of over 48% on the index. 
On NSE, however, the stock has tumbled to a new low of Rs 5.3 a piece - resulting in decline of a whopping 54.31% in one day. Last week on Friday, the shares had already given away nearly 20% of the Reliance Communications market valuation. 
However, RCom looks very confident about this new resolution process. In a notification to exchanges, RCom said, “Untenable issues raised by DoT that frustrated existing plan to stand addressed under NCLT process.”
“RCom board to actively participate (without voting rights) in NCLT resolution process, as clarified by recent judgement of the Hon’ble Supreme Court,” said the company. 
RCom’s management has decided to give a similar debt resolution plan in the NCLT process as was earlier being pursued outside it. 
Here’s a list of 6 key things you should know:
1. The plan includes - Sale of all telecom infrastructure assets and spectrum;  Strategic monetisation of GCX, IDC &amp; Indian Enterprise Business; and Development of 30 million sq ft at the Dhirubhai Ambani Knowledge City complex and sale of other real estate assets.
2. RCom  has been faced with various mostly, untenable issues raised by the Department of Telecommunications. These issues inter alia resulted in numerous legal issues at High Courts, TDSAT and the Hon’ble Supreme Court, which frustrated the existing plan and can now be addressed/resolved under the NCLT process.
3. Further, challenges raised by unreasonable minority lenders can be now be overcome through the NCLT’s 66% majority rule, against the 100% approvals rule outside NCLT.
<blockquote data-lang="en">आज रिलायंस कम्युनिकेशंस ADAG शेयरों की जोरदार पिटाई, जानिए क्या है कारण संदीप ग्रोवर से।<a href="https://twitter.com/AnilSinghviZEE?ref_src=twsrc%5Etfw">@AnilSinghviZEE</a> <a href="https://twitter.com/sandeepgrover09?ref_src=twsrc%5Etfw">@sandeepgrover09</a> <a href="https://t.co/PbphsHaIIy">pic.twitter.com/PbphsHaIIy</a>
— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/1092327664310874115?ref_src=twsrc%5Etfw">February 4, 2019</a></blockquote>
<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
4. Also,the RCOM Board expects substantial unsustainable debt and liabilities to stand extinguished under the NCLT process.
5. RCom Board will actively participate (without voting rights) in the NCLT resolution process, as clarified by a recent judgment of Hon’ble Supreme Court. The Board also expects strong support from and requisite approvals of the Creditors’ Committee, Resolution Professionals and NCLT in the interest of all stakeholders. 
6. RCom Board therefore sees a fast-track NCLT resolution in 2019, free of all uncertainties and challenges. The Board remains confident on future prospects as a going concern under a new ownership on completion of the NCLT resolution process.
Since the time RJio has entered in telecom market, many telco majors have witnessed loss of subscribers including RCom which has made it difficult for others to sustain themselves in the industry. Some companies have either exited or consolidated with other major telcos like Bharti Airtel, Idea and Vodafone.

Anil Ambani led Reliance Communications is now headed for bankruptcy court. Anil Ambani has taken all possible measures for repayment of Reliance Communications Rs 46,000 crore debt. Now, RCom will be handled by NCLT  professionals to bring an insolvency resolution. At around 1314 hours, share price of RCom has plunged by a whopping 32.93% or Rs 3.82, trading at Rs 7.78 per piece on BSE. However, RCom shares at one time even clocked a new all-time low of Rs 6, resulting in overall drop of over 48% on the index. On NSE, however, the stock has tumbled to a new low of Rs 5.3 a piece - resulting in decline of a whopping 54.31% in one day. Last week on Friday, the shares had already given away nearly 20% of the Reliance Communications market valuation. However, RCom looks very confident about this new resolution process. In a notification to exchanges, RCom said, “Untenable issues raised by DoT that frustrated existing plan to stand addressed under NCLT process.”“RCom board to actively participate (without voting rights) in NCLT resolution process, as clarified by recent judgement of the Hon’ble Supreme Court,” said the company. RCom’s management has decided to give a similar debt resolution plan in the NCLT process as was earlier being pursued outside it. Here’s a list of 6 key things you should know:1. The plan includes - Sale of all telecom infrastructure assets and spectrum;  Strategic monetisation of GCX, IDC &amp; Indian Enterprise Business; and Development of 30 million sq ft at the Dhirubhai Ambani Knowledge City complex and sale of other real estate assets.2. RCom  has been faced with various mostly, untenable issues raised by the Department of Telecommunications. These issues inter alia resulted in numerous legal issues at High Courts, TDSAT and the Hon’ble Supreme Court, which frustrated the existing plan and can now be addressed/resolved under the NCLT process.3. Further, challenges raised by unreasonable minority lenders can be now be overcome through the NCLT’s 66% majority rule, against the 100% approvals rule outside NCLT.आज रिलायंस कम्युनिकेशंस ADAG शेयरों की जोरदार पिटाई, जानिए क्या है कारण संदीप ग्रोवर से।@AnilSinghviZEE @sandeepgrover09 pic.twitter.com/PbphsHaIIy— Zee Business (@ZeeBusiness) February 4, 20194. Also,the RCOM Board expects substantial unsustainable debt and liabilities to stand extinguished under the NCLT process.5. RCom Board will actively participate (without voting rights) in the NCLT resolution process, as clarified by a recent judgment of Hon’ble Supreme Court. The Board also expects strong support from and requisite approvals of the Creditors’ Committee, Resolution Professionals and NCLT in the interest of all stakeholders. 6. RCom Board therefore sees a fast-track NCLT resolution in 2019, free of all uncertainties and challenges. The Board remains confident on future prospects as a going concern under a new ownership on completion of the NCLT resolution process.Since the time RJio has entered in telecom market, many telco majors have witnessed loss of subscribers including RCom which has made it difficult for others to sustain themselves in the industry. Some companies have either exited or consolidated with other major telcos like Bharti Airtel, Idea and Vodafone.  

Now, debt-laden Reliance Communications will be handled by NCLT professionals. 

Reliance Communications share price plunges 54%; 6 key things to know about Anil Ambani led telco

news-reliance-communication-share-price-anil-ambani-stock-54-new-low-nclt-resolution-plan-83885

Anil Ambani led Reliance Communications is now headed for bankruptcy court. Anil Ambani has taken all possible measures for repayment of Reliance Communications Rs 46,000 crore debt. Now, RCom will be handled by NCLT  professionals to bring an insolvency resolution. At around 1314 hours, share price of RCom has plunged by a whopping 32.93% or Rs 3.82, trading at Rs 7.78 per piece on BSE. However, RCom shares at one time even clocked a new all-time low of Rs 6, resulting in overall drop of over 48% on the index.  On NSE, however, the stock has tumbled to a new low of Rs 5.3 a piece - resulting in decline of a whopping 54.31% in one day. Last week on Friday, the shares had already given away nearly 20% of the Reliance Communications market valuation.  However, RCom looks very confident about this new resolution process. In a notification to exchanges, RCom said, “Untenable issues raised by DoT that frustrated existing plan to stand addressed under NCLT process.” “RCom board to actively participate (without voting rights) in NCLT resolution process, as clarified by recent judgement of the Hon’ble Supreme Court,” said the company.  RCom’s management has decided to give a similar debt resolution plan in the NCLT process as was earlier being pursued outside it.  Here’s a list of 6 key things you should know: 1. The plan includes - Sale of all telecom infrastructure assets and spectrum;  Strategic monetisation of GCX, IDC Indian Enterprise Business; and Development of 30 million sq ft at the Dhirubhai Ambani Knowledge City complex and sale of other real estate assets. 2. RCom  has been faced with various mostly, untenable issues raised by the Department of Telecommunications. These issues inter alia resulted in numerous legal issues at High Courts, TDSAT and the Hon’ble Supreme Court, which frustrated the existing plan and can now be addressed/resolved under the NCLT process. 3. Further, challenges raised by unreasonable minority lenders can be now be overcome through the NCLT’s 66% majority rule, against the 100% approvals rule outside NCLT. आज रिलायंस कम्युनिकेशंस ADAG शेयरों की जोरदार पिटाई, जानिए क्या है कारण संदीप ग्रोवर से।@AnilSinghviZEE @sandeepgrover09 pic.twitter.com/PbphsHaIIy — Zee Business (@ZeeBusiness) February 4, 2019 4. Also,the RCOM Board expects substantial unsustainable debt and liabilities to stand extinguished under the NCLT process. 5. RCom Board will actively participate (without voting rights) in the NCLT resolution process, as clarified by a recent judgment of Hon’ble Supreme Court. The Board also expects strong support from and requisite approvals of the Creditors’ Committee, Resolution Professionals and NCLT in the interest of all stakeholders.  6. RCom Board therefore sees a fast-track NCLT resolution in 2019, free of all uncertainties and challenges. The Board remains confident on future prospects as a going concern under a new ownership on completion of the NCLT resolution process. Since the time RJio has entered in telecom market, many telco majors have witnessed loss of subscribers including RCom which has made it difficult for others to sustain themselves in the industry. Some companies have either exited or consolidated with other major telcos like Bharti Airtel, Idea and Vodafone.   

Now, debt-laden Reliance Communications will be handled by NCLT professionals. 