Read more about Reliance Power to raise Rs 1,325 cr from RInfra via preferential allotment on Business Standard. Reliance Infra stake to go up to 38% from 9%; more fund raising planned
UVARCL, which has the clearance of the National Company Law Tribunal (NCLT) to acquire Aircel, will approach the SC in the next couple of days to prevent any delay in the asset monetisation of the telecom operator, the person said. “The dedicated bankruptcy court (NCLT) has already given its nod and UVARCL has to protect its assets now.”
The Herberger Theater Center have announced the appointment of five new board members, Becky Gonzales with Metromile, Kaaren-Lyn Graves with NABEDC, Monica Greenman with Transwestern, Greg Marshall with Snell & Wilmer, and Trish Niemann with Cable One, Inc.
The move comes days after Reliance Jio Infocomm (Jio), the designated buyer of Infratel’s assets, had moved the bankruptcy court to seek forensic audit reports that had marked the accounts of Infratel and RCom as “fraudulent”.
According to people in the know, the rushed affidavit was filed over fears that Jio may back out of its plan to buy Infratel for about Rs 4,000 crore due to the label, dealing a blow to lenders’ efforts to recover some of their money. SBI didn’t respond to queries.
“The bank feels that the fraud tag on Reliance Infratel could delay the resolution process and the quantum of recovery could fall further,” said a bank executive aware of the matter.
Read more about Lenders begin vote to select highest bidder for Reliance Commercial Finance on Business Standard. The voting to choose the bidder will end on June 25 and resolve another Rs 9,000 crore of debt of Anil Ambani group company