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Aircel & RCOM steering towards liquidation, resulting in Rs 60,000 crore NPA for Indian and Foreign Banks SECTIONS Aircel & RCOM steering towards liquidation, resulting in Rs 60,000 crore NPA for Indian and Foreign BanksIANS Last Updated: Apr 18, 2021, 12:29 PM IST Share Synopsis According to experts, based on the NCLAT Judgement, the Resolution Plan of UV Asset Reconstruction Company Ltd. (UVARCL) for Aircel, which was approved in June 2020, will be unworkable and the company will be heading for liquidation, resulting in zero recovery for Rs 18,000 crore owed to the lenders. Agencies The National Company Law Appellate Tribunal (NCLAT) ruling of last week in the Aircel vs Department of Telecommunications (DOT) case has cast a shadow on the resolution plans of Aircel and Reliance Communication Ltd. (RCOM). ....
Reliance Communication headed for liquidation after NCLAT judgment business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Aircel & RCOM steering towards liquidation, resulting in Rs 60,000 Cr NPA for Indian and Foreign Banks By IANS | 3 Views
Aircel & RCOM steering towards liquidation, resulting in Rs 60,000 Cr NPA for Indian and Foreign Banks. Image Source: IANS News New Delhi, April 18 : The National Company Law Appellate Tribunal (NCLAT) ruling of last week in the Aircel Vs. Department of Telecommunications (DOT) case has cast a shadow on the resolution plans of Aircel and Reliance Communication Ltd. (RCOM). According to experts, based on the NCLAT Judgement, the Resolution Plan of UV Asset Reconstruction Company Ltd. (UVARCL) for Aircel, which was approved in June 2020, will be unworkable and the company will be heading for liquidation, resulting in zero recovery for Rs 18,000 crore owed to the lenders. ....
Aircel, RCom lenders may challenge NCLAT order on spectrum as they may lose Rs 60K cr SECTIONS Aircel, RCom lenders may challenge NCLAT order on spectrum as they may lose Rs 60K crPTI Last Updated: Apr 18, 2021, 09:07 PM IST Share Synopsis According to the experts and sources working with a committee of creditors, who did not wish to be named, the order may block transfer of Aircel and RCom spectrum to UVARCL and leave Indian and foreign banks with non-performing assets of around Rs 60,000 crore as claimed by the lenders. Agencies Lenders of debt-ridden telecom firms Aircel and Reliance Communications are planning to challenge the ruling of company law tribunal NCLAT over spectrum sale as they fear it will lead to NPAs of around Rs 60,000 crore claimed by them. ....
Dues by ailing firms to Centre, states extinguish if not part of resolution plan under IBC: SC indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.