DoT opposes RCom resolution plan in NCLT

Mumbai : The Department of Telecommunications (DoT) has opposed the resolution plan of Reliance Communications (RCom) and its unit Reliance Telecom in the dedicated bankruptcy court, on grounds that it does not recover its dues from the proceeds of the proposal chalked out by the committee of creditors, including State Bank of India.

DoT’s opposition to the resolution plan will be a big blow to asset reconstruction firm UVARCL which is awaiting National Company Law Tribunal’s (NCLT) nod on RCom’s sale of assets, including spectrum, fibre and data centre. The NCLT on Wednesday directed DoT to file a written submission by Friday.