The Supreme Court on Friday upheld the claims amounting to more than ₹10,952 crore of four indirect creditors of Reliance Infratel Ltd, the tower and fibre business of Mukesh Ambani's telecom company Reliance Communications Ltd (RCom).
Reliance Infratel's total debt exceeds ₹41,055 crore.
In 2022, the National Company Law Appellate Tribunal (NCLAT) rejected the creditors' claims, following a plea by financial creditor Doha Bank, which had objected to the recognition of the indirect creditors-Exim Bank of China, Assets Care and Reconstruction Enterprise (ACRE), Shubh Holdings, and China Development Bank.
Esta historia es de la edición December 21, 2024 de Mint Bangalore.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 21, 2024 de Mint Bangalore.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
'Adani foray into cement drives deep discounts'
Competition in India's cement sector heated up with the entrance of the Adani Group in September 2022, top manufacturers bumped up discounts to maintain market share, according to a report from British wealth manager Investec.
Capex flexibility tops states' budget wishlist
Kerala, Punjab call for special financial packages, higher borrowing limits
Tata Steel's Dutch plant gets warning
Tata Steel Netherlands will face fines of almost €27 million if it doesn't take measures within eight weeks
Markets reel from highest weekly fall in 30 months
Even buying by rebalancing of Sensex and FTSE indices was absorbed by the markets due to the FPI selling.
Banks win SC relief on 30% credit interest cap
The Supreme Court on Friday overturned the National Consumer Disputes Redressal Commission (NCDRC)'s 2008 decision to cap interest rates on late credit card bill payments at 30% per annum, bringing relief to lenders that had appealed the consumer forum's ruling.
Leave a movie midway, and get some money back
PVR Inox's move is part of efforts to widen audience base and improve movie-going frequency
Pushpa 2 most-watched film of 2024, Coldplay hot
Nostalgia also took centre stage with re-releases like Kal Ho Naa Ho, Rockstar and Laila Majnu still drawing viewers
Claims of Reliance Infratel's indirect creditors upheld
The apex court upheld ₹10,952 crore claims by four indirect creditors of Anil Ambani-led RCom's tower biz
Bombay HC upholds Adani's bid to develop Dharavi slum
The project gained momentum in 2016 under the Bharatiya Janata Party-Shiv Sena led govt
Sexual wellness products garner interest
The Indian sexual wellness market is booming, driven by increased awareness and wider online retail availability. Young companies are capitalizing on this growth, with recent investments in several startups highlighting the sector's potential.
