Breaking News

You are here » Indian-Commodity  :  Corporate  :  RCom in settlement talks with China Development Bank: Report

07-Dec2017

RCom in settlement talks with China Development Bank: Report

Reliance Communications (RCom) reportedly is in settlement talks with China Development Bank (CDB), one of its largest creditors, even as the Chinese government banker sought to club its insolvency petition against the Anil Ambani-led company with other petitions seeking the same.

CDB is looking to recover $1.78 billion, or about Rs 11,460 crore, of dues the debt-laden telecom operator battling multiple insolvency cases. The Chinese bank, accounting for 37.11% of RCom's total secured debt, moved NCLT in November against both RCom and its subsidiary Reliance Telecom since the former was the guarantor and the latter the principal borrower. Moreover, NCLT will take a call on December 18 if the insolvency petition should be admitted.

Reliance Communications is India's foremost and truly integrated telecommunications service provider.


Related News

View all news

SAIL comes out with smart garbage bins for garbage collection

Steel Authority of India (SAIL) has come out with smart garbage bins made up of stainless steel which collect unbridled garbage and also send signals to the collection vehicles about the fill-up position.......

RBI renews authorization issued to Vakrangee for White Label ATMs

Reserve Bank of India (RBI) has provided the Renewal of Authorization for Vakrangee. RBI has extended the validity of Authorization issued to Vakrangee to setup, own and operate the White Label ATMs in......

Coffee Day Enterprises inks agreement to sell stake in Mindtree

Coffee Day Enterprises, Coffee Day Trading and V.G. Siddhartha, a Promoter of the Company, along with certain other parties have signed a definitive agreement to sell their entire stake in Mindtree to......

Top News

View all news

RIL's telecom arm terminates agreement with Reliance Communications

Reliance Industries' (RIL) telecom arm -- Reliance Jio Infocomm (Jio) has terminated Master Agreement and Spectrum Trading Agreement executed between the company and Reliance Communications and its affiliates......

Hotel Leela Venture signs binding agreement with Brookfield

Hotel Leela Venture (HLVL) has entered into a binding agreement with a Brookfield Asset Management sponsored private real estate fund, to sell by way of slump sale, four owned Leela hotels located at Bangalore,......

Dr. Reddy's Laboratories launches B2B customer service portal 'XCEED'

Dr. Reddy's Laboratories has launched B2B customer service portal 'XCEED' to increase the operational efficiency. The portal is focused on meeting the growing demand for the company's portfolio of generic......