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NCLT postpones Reliance Infratel issue to July 5

As a major development, NCLT has postponed the Reliance Infratel issue to July 5. SBI requested that more complaints, submissions and evidence be collected and prepared that day. This happens after SBI chooses to withdraw the fraudulent tag against RCom’s tower and fiber company Rel Infratel Ltd.

Reliance Projects and Property Management Services, part of the Reliance Industries Group, were successful resolution partners in Rel Infratel Ltd’s Corporate Insolvency Resolution Process (CIRP). Acquired the right to acquire a 100% stake in Rel Infratel Ltd.

NCLT awarded the company to the RIL Group in a resolution order dated December 3, 2020.

However, SBI classified the Rel Infratel Ltd account as a scam on November 10, 2020, but mysteriously withheld this important information when NCLT placed the order.

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NCLT postpones Reliance Infratel issue to July 5

Source link NCLT postpones Reliance Infratel issue to July 5

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