April 6, 2018 / 9:15 AM / 3 months ago

BRIEF-India's RCom Says NCLAT Vacated Stay Granted On Sale Of Towers, Fiber Assets

Reuters Staff

1 Min Read

April 6 (Reuters) - Reliance Communications Ltd:

* NCLAT VACATES STAY GRANTED IN RELATION TO SALE OF TOWERS AND FIBER ASSETS

* SAYS ‍CO ALLOWED TO PROCEED WITH FULL ASSET MONETISATION PROGRAMME OF ABOUT 250 BILLION RUPEES

* DISTRIBUTION OF PROCEEDS OF ONLY THE TOWER AND FIBER WILL BE SUBJECT TO THE FINAL DECISION OF NCLAT ON APRIL 18

* NCLAT ALLOWED EXECUTION OF SALE DEEDS AND DEPOSIT OF PROCEEDS WITH SBI IN AN ESCROW ACCOUNT Source text: bit.ly/2IwtIqZ Further company coverage:

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