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Reliance Infratel creditors to get ₹3,515 crore after NCLT upholds Doha Bank plea

Reliance Infratel creditors to get ₹3,515 crore after NCLT upholds Doha Bank plea March 03, 2021 × The National Company Law Tribunal’s (NCLT) Mumbai has upheld a petition filed by Doha Bank that would help in full recovery of ₹3,515 crore for the financial creditors of Reliance Infratel Ltd (RITL). Doha Bank, one of the financial creditors of RITL, had filed an application against the corporate guarantee holders of Reliance Communications Ltd (RCom) and Reliance Telecom Limited (RTL), seeking priority payment for the financial creditors of RITL. The bank was seeking priority payment from the proceeds of RITL’s resolution plan, sources close to the development said.

Centre Can t Use Power To Notify IBC Sections Only As Regards Personal Guarantors, Salve Argues For Anil Ambani In SC

Centre Can t Use Power To Notify IBC Sections Only As Regards Personal Guarantors, Salve Argues For Anil Ambani In SC Share This - x The Supreme Court on Thursday heard the arguments of Senior Advocate Harish Salve on behalf of Reliance Communications head Anil Ambani on a plea challenging the Central Government notification extending provisions of the insolvency law to personal guarantors. You cannot specify the subject matter as regards which the section comes into force, you can only specify the section , Salve. Your free access to Live Law has expired To read the article, get a premium account. Your Subscription Supports Independent JournalismSubscription starts from

Anil Ambani Group: Banks Mark Accounts of RCom, RTel & RInfra as Fraud, Say Reports

 7 Three State-run lenders, State Bank of India (SBI), Union Bank of India (UBI) and Indian Overseas Bank (IOB), have classified accounts of the Anil Ambani owned Reliance Communication Ltd (RCom) and its two units Reliance Telecom Ltd (RTel) and Reliance Infratel Ltd (RInfra) as fraudulent.   Further, the Delhi High Court (HC) has opined that the Union government is free to take any steps, or investigate or file any complaint proceedings against RCom and RTel. The resolution professional for RCom has accepted claims worth Rs49,224 crore from 53 creditors, including banks, non-banking finance companies (NBFCs) and mutual funds (MFs).   As per a report from LiveLaw, the vacation bench of justice Subramonium Prasad of Delhi HC, while hearing a plea filed by RCom, has asked UBI and IOB to maintain

Spam SMS: TRAI Has Information of Only 2 30 Lakh Telemarketers and Headers

 5 Have you even wondered about the continuous onslaught of unwanted commercial communication (UCC) or spam messages and unwanted calls from telemarketers? If yes, then data shared by the telecom regulator shows that there are over 230,000 entities registered as telemarketers with 11 telecom companies. However, the data shared by the Telecom Regulatory Authority of India (TRAI) may be incomplete as the cumulative of Reliance Jio and Bharti Airtel itself is nearly 275,000. It may also be possible that many entities have registered themselves with different telcos. But even in that case, the TRAI record considers it as a separate entry and this should have been added in the cumulative. Also remember, TRAI sharing this information does not mean that it will either act against some of the most notorious and dubious telemarketers or make sure that all numbers registered with do-not-call (DNC) registry will be filtered out by telemarketers. TRAI will do nothing to help telecom or mobile

Delhi High Court orders no coercive action in the RCOM matter

Delhi High Court orders no coercive action in the RCOM matter ​ By IANS | Published on ​ Mon, Dec 28 2020 16:12 IST | ​ 0 Views Delhi High Court. (File Photo: IANS). Image Source: IANS News New Delhi, Dec 28 : Delhi High Court has directed the two state owned banks, Union Bank of India and Indian Overseas Bank to maintain the status quo in a matter pertaining to the classification of accounts of Reliance Communication Ltd. ( RCOM) and its subsidiary, Reliance Telecom Ltd. (RTL) as fraudulent. RCOM and RTL had challenged the recent move by the Union Bank of India and Indian Overseas Bank to mark these accounts as fraudulent.

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