NCLT Mumbai Approves Sale of RCom Real Estate Assets, Shares
The filing attached an order of the National Company Law Tribunal’s Mumbai bench. Resolution professional can sell assets of the company after submission of the resolution plan for approval by the tribunal, according to the order.Insolvency tribunal NCLT Mumbai has approved the sale of some of the real estate assets of telecom company Reliance Communications, a regulatory filing said on Wednesday.The filing attached an order of the National Company Law Tribunal’s Mumbai bench in the matter of application filed by the resolution professional of Reliance Communications (RCom), seeking approval from the NCLT for undertaking the sale of certain unencumbered assets of the company.“…this Tribunal clarifies that the Applicant/RP can sell assets of the Corporate Debtor (as described in Para 1 abo...