FIR is based on a complaint by SBI, which had flagged the account of Reliance Communications as fraudulent. The bank has an exposure of around Rs 3,000 cr in the firm.
In a plea to SC, lenders said any move to ban bankrupt companies such as Aircel & RCom from selling airwaves, leased from govt, will sink their insolvency resolution process.
The top court also asked the Department of Telecom to file the requisite documents in this regard and posted the matter for further hearing on 17 August.
The telecom disputes tribunal had in December 2018 directed the Centre to return around Rs 104 crore against spectrum charges of Rs 774 crore to Reliance Communications.
The $680 million is the amount Industrial & Commercial Bank of China is seeking to recover from Anil Ambani by invoking a ‘personal guarantee’ he gave in 2012.
Reliance Naval says cash crunch is impacting progress of existing projects leading to extended timelines & thereby erosion of confidence amongst clients.
Delhi must see opportunity in the new envoy, to be prepared for hurdles, yet be forward-looking and free of preconceived notions that could spoil any chances of a breakthrough.
New bill aims to fix key issues with IBC 2016, including delays & patchy implementation, and protect creditors, with window for genuine promoters to retain control of their companies.
Mhow: The Navy is committed to synergising its command control, communications and combat capability with the Indian Army and the Indian Air Force with...
Putin sees this as a victory. Europeans have decided to deal with Trump on his terms for the sake of the larger Western alliance. We look at the lessons for us in India.
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