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| Exchange Received Time 29/05/2018 11:29:35 Exchange Disseminated Time 29/05/2018 11:29:40 Time Taken 00:00:05 | 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. |
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