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Reliance Communications Ltd (RLCM.NS)

RLCM.NS on National Stock Exchange of India

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Latest Key Developments (Source: Significant Developments)

Bill Barney Steps Down As RCOM CEO, Will Continue Leading GCX Through Restructuring
Tuesday, 24 Sep 2019 

Sept 24 (Reuters) - Global Cloud Xchange: :BILL BARNEY STEPS DOWN AS RCOM CEO, WILL CONTINUE LEADING GCX THROUGH RESTRUCTURING.GLOBAL CLOUD XCHANGE SAYS BILL BARNEY STEPS DOWN AS RCOM CEO.GLOBAL CLOUD XCHANGE - GCX EXPECTS TO COMPLETE CHAPTER 11 PROCESS AND EMERGE AS A STRONGER COMPANY WITHIN Q4 OF 2019.GLOBAL CLOUD XCHANGE - TO USE PROTECTIONS & FRAMEWORK OF CHAPTER 11 TO UNDERTAKE A SALE PROCESS THAT WELCOMES ADDITIONAL PROSPECTIVE BUYERS.  Full Article

Global Cloud Xchange Says Initiates Voluntary, Pre-Packaged Chapter 11 Restructuring
Monday, 16 Sep 2019 

Sept 15 (Reuters) - Global Cloud Xchange: :GLOBAL CLOUD XCHANGE SAYS COMPANY INITIATES VOLUNTARY, PRE-PACKAGED CHAPTER 11 RESTRUCTURING WITH SUPPORT FROM MORE THAN 75 PERCENT OF LENDERS.GLOBAL CLOUD XCHANGE ANNOUNCES PLAN TO SECURE FINANCIAL FUTURE.GLOBAL CLOUD XCHANGE SAYS EXPECTS TO COMPLETE CHAPTER 11 PROCESS WITHIN Q4 OF 2019.PLAN DOES NOT CONTEMPLATE ANY CHANGES IN BUSINESS ARRANGEMENTS OR ACTIVITIES FOR ANY GCX SUBSIDIARY.ACCORDING TO TERMS OF PLAN, ALL TRADE/VENDOR CLAIMS WILL BE PAID IN FULL.WILL USE PROTECTIONS AND FRAMEWORK OF CHAPTER 11 TO UNDERTAKE A SALE PROCESS THAT WELCOMES ADDITIONAL PROSPECTIVE BUYERS.  Full Article

India's Reliance Communications June-Qtr Consol Net Loss Widens
Friday, 9 Aug 2019 

Aug 9 (Reuters) - Reliance Communications Ltd ::JUNE QUARTER CONSOL NET LOSS 3.66 BILLION RUPEES VERSUS LOSS OF 3.42 BILLION RUPEES LAST YEAR.JUNE QUARTER CONSOL REVENUE FROM OPERATIONS 8.65 BILLION RUPEES VERSUS 10.06 BILLION RUPEES LAST YEAR.  Full Article

Reliance Communications Says Stay Granted By NCLAT On Assets Monetization Still Continuing
Monday, 22 Apr 2019 

April 22 (Reuters) - Reliance Communications Ltd ::SAYS STAY GRANTED BY NCLAT VIDE ITS ORDER ON FEB 4 ON ASSETS MONETIZATION IS STILL CONTINUING.  Full Article

RCom Says Certain Promoters Cut Stake In Co To 21.97 Pct Via Invocation Of Pledge Of Shares
Thursday, 28 Mar 2019 

March 28 (Reuters) - Reliance Communications Ltd ::CERTAIN PROMOTERS CUT STAKE IN CO TO 21.97 PERCENT FROM 37.57 PERCENT VIA INVOCATION OF PLEDGE OF SHARES.  Full Article

Reliance Communications Says Assets Sale Agreement With Reliance Jio Terminated
Monday, 18 Mar 2019 

March 18 (Reuters) - Reliance Communications Ltd ::RCOM GROUP AND RELIANCE JIO TERMINATE AGREEMENTS FOR SALE OF SPECIFIED ASSETS BY MUTUAL CONSENT.DEAL INCAPABLE OF BEING CONSUMMATED DUE TO OBJECTIONS FROM OVER 40 FOREIGN AND INDIAN LENDERS.DEAL INCAPABLE OF BEING CONSUMMATED ALSO DUE TO NON-RECEIPT OF REQUISITE PERMISSIONS AND APPROVALS FROM DOT.DEAL INCAPABLE OF BEING CONSUMMATED AFTER CO SOUGHT FAST TRACK RESOLUTION OF OVERALL DEBT THROUGH NCLT.  Full Article

India's NCLAT Says No Interim Order Passed In Case Of Reliance Communications VS Ericsson
Friday, 15 Mar 2019 

March 15 (Reuters) - India's NCLAT::INDIA'S NCLAT SAYS NO INTERIM ORDER IS PASSED IN CASE OF RELIANCE COMMUNICATIONS VERSUS ERICSSON.INDIA'S NCLAT SAYS PARTIES TO ENSURE THAT SETTLEMENT IN 30 MAY ORDER IS MADE ENABLING SBI, OTHER BANKS AND ERICSSON INDIA TO RECOVER MAXIMUM DUES.INDIA'S NCLAT SAYS NO DIRECTION CAN BE GIVEN TO ANY PARTY FOR SETTLEMENT TO PERFORM CERTAIN DUTIES TO ENSURE SETTLEMENT BETWEEN OTHER PARTIES.  Full Article

Reliance Communications Says Moves NCLAT For Withdrawal Of Its Appeal In Ericsson Matter
Monday, 4 Feb 2019 

Feb 4 (Reuters) - Reliance Communications Ltd ::SAYS MOVES NCLAT FOR WITHDRAWAL OF ITS APPEAL IN ERICSSON MATTER TO PURSUE RESOLUTION PLAN THROUGH NCLT PROCESS.ACCEPTING CO'S APPLICATION FOR WITHDRAWAL APPEAL, NCLAT DIRECTED ERICSSON TO FILE ITS REPLY IN THE MATTER BY 8 FEB 2019.GUARANTORS, ANY THIRD PARTY PROHIBITED FROM INVOKING GUARANTEE, MORTGATE WITHOUT NCLAT’S OR SC'S PRIOR PERMISSION.RCOM OR ANY THIRD PARTY NOT TO SELL/TRANSFER/ALIENATE ANY ASSETS WITHOUT THE NCLAT’S OR THE SUPREME COURT’S PERMISSION.  Full Article

Reliance Communications Says TDSAT Cancels 20 Bln Rupees Demand On Co
Monday, 4 Feb 2019 

Feb 4 (Reuters) - Reliance Communications Ltd ::SAYS TDSAT CANCELS 20 BLN RUPEES DEMAND ON RCOM.TDSAT UPHOLDS RELIANCE COMMUNICATIONS’ PETITION AGAINST DEPARTMENT OF TELECOM ON ONE-TIME SPECTRUM CHARGE ISSUE.TDSAT ASKS DOT TO RETURN 20 BILLION RUPEES BANK GUARANTEE TO RCOM AS PER IT'S EARLIER ORDER PASSED ON 3 JULY 2018.APPELLATE TRIBUNAL RULES THAT UPTO 5 MHZ OF CDMA & UPTO 6.2 OF MHZ GSM CONTRACTED SPECTRUM IS EXEMPT FROM OTSC.  Full Article

RCom To Implement Debt Resolution Plans Through NCLT Framework
Friday, 1 Feb 2019 

Feb 1 (Reuters) - Reliance Communications Ltd ::RCOM BOARD OF DIRECTORS DECIDES UPON IMPLEMENTATION OF DEBT RESOLUTION PLANS THROUGH NCLT FRAMEWORK.DECIDED THAT COMPANY WILL SEEK FAST TRACK RESOLUTION THROUGH NCLT, MUMBAI.SAYS 100% APPROVAL OF ALL 40 LENDERS HAS BEEN IMPOSSIBLE TO ACHIEVE ON ANY MATTER FOR OVER 12 MONTHS.NOTED THAT, DESPITE OVER 18 MONTHS, LENDERS HAVE RECEIVED ZERO PROCEEDS FROM PROPOSED ASSET MONETIZATION PLANS.THERE WILL BE NO IMPACT ON BUSINESS AND OPERATIONS OF OTHER SUBSIDIARIES OF COMPANY.NOTED THAT THE OVERALL DEBT RESOLUTION PROCESS IS YET TO MAKE ANY HEADWAY.RECURRING LEGAL CHALLENGES BY DOT FOR SPECTRUM MONETIZATION, LITIGATION BY OTHER PARTIES SUPPORT DECISION TO GO FOR NCLT RESOLUTION TRACK.RESOLUTION THROUGH NCLT IN THE BEST INTERESTS OF ALL STAKEHOLDERS.  Full Article