21
Wednesday
November 2018
12:03 AM IST
News Headlines
Ink Thrown At Gujarat Lawmaker Jignesh Mevani, Kanhaiya Kumar        Can't Stop Salary For Not Linking Bank Account To Aadhaar, Centre Told        Germany says will bar 18 Saudis over Khashoggi murder        Google best Search engine, we keep Safari safe: Tim Cook        Zverev shocks Djokovic to win ATP Finals        England finish second in Group, to face in-form India in semis        Fresh protest in Sabarimala        Rahul Gandhi Challenges PM Modi For Debate On Rafale Deal        New bill likely to be introduced in Parliament to rechristen names of Bombay, Calcutta and Madras High Courts        TM Krishna 'celebrates democracy' at Delhi concert        Death toll rises to 76 in California fire as Trump visits        Sri Lanka president Sirisena holds all-party meeting talks to end political crisis        Pankaj wins grand double, extends world title tally to 21        England win second Test against Sri Lanka by 57 runs        Smriti Mandhana becomes second-fastest Indian woman to reach 1000 T20I        It is quality of cricket rather than sledging that wins matches: Shastri on new Aussie approach        India in Australia: Kohli promises to not start arguments, only finish them        At Least Two Killed, Eight Injured In Blast In Karachi        Centre's New Move May Escalate Feud With RBI Ahead Of Board Meet: Report        'Gaja' crosses coast, rainfall pounds TN, 22 dead        
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | Health   | About Deepika 
Business News
China Development Bank Files Insolvency Plea Against Reliance Telecom
 
(Mumbai, Dec 06, 2017):China Development Bank has initiated insolvency proceedings against a second Anil Ambani-promoted firm, Reliance Telecom Ltd. at the National Company Law Tribunal.

CDB sought to club the insolvency pleas initiated by other creditors of Reliance Telecom so that these matters could be heard together. The Chinese bank’s move is, however, likely to be challenged before the tribunal by the Reliance ADAG Group, as per submissions by the company’s lawyers before the NCLT today. Talks are also on between the parties to settle the dispute out-of-court. The matter has been adjourned to Dec. 18.

Reliance Telecom is an arm of the debt-laden RCom which already has four insolvency insolvency cases pending at the NCLT.

CDB recently became the first lender to file insolvency proceedings against RCom, BloombergQuint had reported earlier. It named Alvarez & Marsal (A&M) India as the resolution professional in the matter, people familiar with the development said. The Chinese bank thus joined operational creditors Ericsson India Ltd. and Manipal Tech Ltd. which have filed similar petitions at the Mumbai branch of tribunal seeking resolution under the new Insolvency and Bankruptcy Code.

Most recently, public-relations firm Fortuna Public Relations Pvt. filed its plea, saying RCom owes it Rs 43 lakh. The matter is scheduled to be heard on Dec. 19.

Reliance Telecom offers Global System for Mobile communication cellular services in India. As of Sept. 8, 2006, the company operated as a subsidiary of RCom.

Reliance Telecom was the entity involved in the 2G scam. Earlier this year, the company also got into trouble with the telecom regulator for abruptly halting its services in select areas in Assam.


Centre's New Move May Escalate Feud With RBI Ahead Of Board Meet: Report
Air India eyes Rs 800 cr from sale of over 70 properties
Intel India opens design house costing Rs 1,100 cr at B'luru
Sensex rebounds 332 pts on easing crude, rupee gains
Govt mulls second round of 2,500 MW medium-term PPA auction
India invites Swedish companies to explore investment opportunities
Govt cancels ED officer Rajeshwar Singh's leave
Facebook blocks 115 accounts ahead of US midterm elections
Indian norms on PCA, capital are conservative, rule-based: SBI
SBI back in black on credit growth
TN transport employees threaten to go on strike
Ease of biz ranking: Indian can improve further, says Jaitley
Rupee declines 11 paise to close at 73.27 against US dollar
Gold rises in futures trade; up 0.54% on global cues
Mistry announces startup fund on 2nd anniversary of his ouster
BSE gets Sebi's nod to launch Oman crude oil contract
Sensex cracks 34,000-mark, Nifty below 10,200 on weak global cues
Petrol pumps in Delhi on strike demanding VAT cut
RBI likely to stay on hold for rest of FY'19 : Report
Japan introduces Artificial Intelligence technology to ease business
KERALA NEWS
Sabarimala protests: Arrests up to 2061, Kerala HC warns police
 Thiruvananthapuram, OCT 27: As the number of people arrested for allegedly being involved in violent  
Vijayan urges UAE Keralites to back salary challenge
Sabarimala row: Protests against SC verdict continue
Balabhaskar's wife Lakshmi shifted to ICU
INTERNATIONAL NEWS
Germany says will bar 18 Saudis over Khashoggi murder
 (Brussels, Nov 19, 2018):Germany will bar 18 Saudis from entering its territory and Europe's
Google best Search engine, we keep Safari safe: Tim Cook
Death toll rises to 76 in California fire as Trump visits
Sri Lanka president Sirisena holds all-party meeting talks to end political crisis
NATIONAL NEWS
Ink Thrown At Gujarat Lawmaker Jignesh Mevani, Kanhaiya Kumar
 (Gwalior, Nov 19, 2018):A man on Monday threw ink at Gujarat MLA Jignesh Mevani and former JN
Can't Stop Salary For Not Linking Bank Account To Aadhaar, Centre Told
Rahul Gandhi Challenges PM Modi For Debate On Rafale Deal
New bill likely to be introduced in Parliament to rechristen names of Bombay, Calcutta and Madras High Courts
Untitled Page
Rashtra Deepika LTD
Copyright @ 2018 , Rashtra Deepika Ltd.