New Delhi: The Supreme Court on Monday stayed a National Company Law Appellate Tribunal (NCLAT) order that had allowed for partial sale of assets of Reliance Communications Ltd (RCom) to Reliance Jio Infocomm until the tribunal decides on the case.

The top court order effectively halts the RCom-Jio deal worth Rs25,000 crore to the extent of sale of tower and fibre assets.

New Delhi: HSBC Daisy Investments (Mauritius) Ltd moved the Supreme Court (SC) on Monday, challenging an order of the National Company Law Appellate Tribunal (NCLAT) that cleared the execution of the Rs25,000 crore sale of Reliance Communications (RCom) assets to Reliance Jio Infocomm (RJio).

The matter was mentioned before a bench comprising Justices Adarsh Kumar Goel and Rohinton F. Nariman. The case will be heard on 19 April.

Reliance Communications Ltd (RCom) said on Friday it received the National Company Law Appellate Tribunal's (NCLAT) approval to proceed with the sale of its tower and fibre business.

The National Company Law Tribunal had prevented RCom from selling any asset without its permission, following a legal challenge from Swedish telecoms gear maker Ericsson, seeking payment of unpaid dues of Rs 11.55 billion ($177.7 million) by RCom and two of its units.

New Delhi: The Supreme Court on Thursday rejected the plea of Reliance Infratel, a subsidiary of Reliance Communications Ltd (RCom) and the State Bank of India (SBI) challenging an order of the National Company Law Tribunal (NCLT) that stayed an asset sale to Reliance Jio Infocomm Ltd.

A two-judge bench headed by Justice A.K. Goel asked the parties to approach the National Company Law Appellate Tribunal (NCLAT) in accordance with law.

Mumbai: Anil Ambani-led Reliance Communications Ltd (RCom) on Wednesday said that the company’s bondholders have approved its asset sale plans, including its decision to sell its assets to Reliance Jio Infocomm Ltd and sale of other real estate.

RCom said its bond holders have also accepted part pre-payment through bonds that were due to mature in 2020.

India's Reliance Communications Ltd (RCom) said on Wednesday its bondholders had approved their asset-sale plan, that includes the sale of certain assets to upstart rival Reliance Jio Infocomm Ltd.

Holders of the debt-laden telecom operator's $300 million bonds have also approved the monetisation of other real-estate assets, RCom said in a statement.

New Delhi: Debt-laden Reliance Communications’ (RCom) proposal to sell infrastructure assets including towers, optic fibre cable and spectrum to Reliance Jio has been cleared by the Competition Commission of India (CCI).

“@CCI_India approves acquisition of RCOM’s towers, optic fiber cable, right to use spectrum and media convergence nodes by RJIO,” the anti-trust regulator tweeted.

Mumbai: The Bombay high court has dismissed the appeal filed by Reliance Communications Ltd (RCom) against an arbitration tribunal order that restrained the telecom firm from selling its assets without prior approval till 9 June. RCom will challenge the single bench order’s at the division bench, a spokesperson said in an emailed response.

Reliance Communications (Rcom) has moved the Bombay High Court against an arbitration order passed a day before that had "restrained” the telco from selling or transferring its assets without its permission.

"The company has filed an appeal before the Hon'ble Bombay High Court to protect the interest of the secured lenders," said the telecom company in a statement to the stock exchanges late Tuesday evening.

Mumbai: In a long-drawn dispute between Reliance Infratel Ltd, a telecom tower infrastructure arm of Reliance Communications Ltd (RCom), and its minority shareholders HSBC Daisy Investments (Mauritius) Ltd, the Anil Ambani-controlled company has agreed to share details of the deal to sell off its assets to his elder brother Mukesh Ambani-controlled Reliance Jio.

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