General Announcement::Update

Issuer & Securities

Issuer/ Manager
RELIANCE COMMUNICATIONS LIMITED
Securities
RELIANCEUS$300M6.5%N201106 - XS1216623022 - 29EB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
29-May-2018 14:08:49
Status
New
Announcement Sub Title
Update
Announcement Reference
SG180529OTHR1IGI
Submitted By (Co./ Ind. Name)
Prakash Shenoy
Designation
Company Secretary and Compliance Officer
Description (Please provide a detailed description of the event in the box below)
Reliance Infratel Ltd., a subsidiary of RCOM has informed the Hon'ble NCLAT today that an amicable settlement has been arrived at between it and minority investors holding 4.26% equity in the Company, and consent terms will be filed shortly.

The settlement with the minority investors paves the way for vacation of the stay granted by the NCLT on the sale of RITL's tower and fibre assets, and will enable the Company to proceed with asset monetisation of Rs. 8,000 crore as soon as the Company exits the debt resolution process under NCLT, for which its appeal, supported by all its lenders, is fixed for hearing today i.e. Tuesday, May 29, 2018 before the Hon'ble NCLAT.

Attachments

SGXRITLNCLATmatterPEInvestors29052018.pdf
Total size =33K